Nearly nine in 10 Americans with a bank account (89%) say they are “very satisfied” or “satisfied” with their primary bank and 93% rate their bank’s customer service as “excellent,” “very good” or “good,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The research, unveiled today at ABA’s 2025 Washington Summit, also gauged consumers’ views on the competitive landscape of the banking industry, the role banks play in the U.S. economy, banks’ efforts to protect them from fraud, and consumers’ support for the financial well-being of America’s farmers and rural communities.
The survey found that Americans believe the nation’s banks are competing aggressively for their business and that they have ample access to banking services. Eight in 10 (83%) respondents agree they have multiple options when selecting products and services such as bank accounts, loans and credit cards, and the same percentage said they have a wide array of choices when deciding where to bank. Eight in 10 (80%) agree they have easy access to a bank branch when they need it. Seventy-eight percent believe the financial services industry is highly competitive, and eight in 10 (80%) also believe their bank is transparent about disclosing fees.
Three-quarters of consumers (76%) say the nation’s banks are a source of strength for the U.S. economy and they appreciate the key role banks play in supporting the financial needs of individuals, businesses and local communities. Seven in 10 (69%) said they are confident in America’s banks as a whole and their ability to support individuals, businesses, and the local communities they serve.
“These numbers demonstrate that America’s banks are meeting the needs of their customers,” ABA President and CEO Rob Nichols said during remarks at the summit. “At ABA, we want to continue to make sure that continues. That’s why we support policies that enable banks to offer a broad array of services, including small-dollar credit products and overdraft options to help people manage their finances as they see fit.”
Public support for agriculture, cannabis banking
Considering the current rate of inflation and interest rates, 72% of consumers said they are concerned about the financial well-being of America’s agricultural economy and rural communities. Three in four (75%) support Congress passing legislation intended to expand access to affordable credit for America’s farmers, ranchers and rural communities. These survey results come as lawmakers have recently reintroduced legislation designed to lift up the rural economy. The Access to Credit for our Rural Economy (ACRE) Act would lower the cost of making a loan backed by agricultural real estate, enhance competition between lenders for agricultural and rural housing loans, and help expand access to low-cost credit in rural communities.
The data also indicate that nearly two-thirds (62%) of U.S. adults support Congress passing legislation that allows cannabis businesses to access banking services and financial products like checking accounts and business loans in states where cannabis is legal. Currently, cannabis businesses largely operate on an all-cash basis due to the restrictions posed by federal law. This results in large sums of cash on site and makes them prime targets for criminals. A majority of Americans (54%) worry that current federal laws barring banks from providing financial services to legal cannabis businesses are harming public safety in those states where cannabis is legal.
ABA released an accompanying infographic highlighting some of the survey results.
