While overall customer satisfaction with retail banks has remained steady, a growing number of customers are moving money away from their primary bank, according to a recent survey by J.D. Power.
Customer satisfaction with retail banks in 2026 rose two points to 657 on a 1,000-point scale, J.D. Power said. However, it noted gains in satisfaction were offset by sharp declines in recent months, which showed “growing strain in the customer experience with phone, branch, online and automated customer engagement channels.”
The average retail bank checking account customer now maintains three deposit accounts at different institutions, according to the survey. Twenty percent of retail bank customers have moved money away from their primary bank within the past three months, up from 17% last year. Customers most likely to move money are those under age 40 (23%), those in the affluent/mass affluent wealth bracket (25%) and those who are financially healthy (24%).
Satisfaction with the problem resolution experience was 587 among national banks, up 49 points from 2024. Among midsize banks, the average problem resolution score was 548, down 27 points from 2024.
