New ABA Study Finds Americans Highly Satisfied with Their Bank

The American Bankers Association this morning unveiled new data showing that nearly 9 in 10 Americans (86 percent) say they are “very satisfied” or “satisfied” with their primary bank. Ninety-four percent rated their bank’s customer service as “good,” “very good” or “excellent,” according to the survey, conducted for ABA by Morning Consult.

The top three things consumers valued most about their banks were: little or no fees, security of account and personal information and location. They also said that banks were far and away the most trusted guardians of their personal information; 42 percent said they trust banks the most to keep their data safe, compared to 15 percent who said they trust healthcare providers the most and 7 percent who said they trusted non-bank providers like Apple Pay, Venmo and Paypal.

“Banks continue to invest heavily in keeping data safe and providing an exceptional customer experience, and consumers are taking notice,” ABA President and CEO Rob Nichols noted. “From helping customers buy a home or start a business to making transactions safe and convenient, banks of all sizes open doors of opportunity every day.”

ABA released an accompanying infographic highlighting the survey results and will be releasing additional findings from the study next week.