Morning Consult Poll: Banks Notch Top Approval Ratings from Consumers

Nine in 10 American consumers say they are satisfied or very satisfied with their primary bank, according to the results of a new Morning Consult survey released today during the American Bankers Association Annual Convention in Seattle. Ninety-six percent of consumers rated their bank’s customer service as good, very good or excellent, while 93% said their access to banking services was good or excellent.

“These survey results reaffirm that people across this country appreciate and value the service banks of all sizes provide the nation,” said ABA President and CEO Rob Nichols. “From helping their customers buy a house or start a business to new technology tools to help them manage their money anywhere, America’s banks are meeting and exceeding customer expectations, and this survey demonstrates that.”

When asked what they valued most about their bank, the top five responses included little or no fees (24%), security of account and personal information (21%), location (14%), reputation/trust (12%) and customer service (9%). Consumers also trusted banks significantly more than any other industry to safeguard their personal data. Banks were most trusted by 39% of respondents, followed by healthcare providers (17%); non-bank payment providers (5%); the government (5%); major retailers (1%); and telecom companies (1%).