Money expert Clark Howard is not a big fan of what he calls the “giant monster mega-banks” but for many of us, doing business with them is a matter of either habit, convenience or both.
These days, however, Americans have more choices than ever when it comes to where we do our banking. If you’ve been thinking about switching banks, a new survey might give you some ideas about where to put your money next — especially if customer service ranks high on your list of requirements.
Each year, the American Customer Satisfaction Index (ACSI) surveys thousands of consumers to find out which brands and companies they are most satisfied with. Most recently, they turned their attention to the financial services sector, including banks.
Citibank, BB&T Are America’s Favorite Banks
For 2019, Citibank came out on top as America’s favorite national bank. BB&T took first place in the “Super Regional Bank” category.
Here is the full ranking of national banks:
2019 American Customer Satisfaction Index (ACSI) National Banks Ranking |
|||
| Bank | 2019 Score | 2018 Score | % Change |
| Citibank | 81 | 79 | 3% |
| Chase | 79 | 80 | -1% |
| Bank of America | 77 | 76 | 1% |
| Wells Fargo | 76 | 74 | 3% |
| American Customer Satisfaction Index. The scoring scale is 0-100. | |||
When it comes to big regional banks, BB&T edged out a trio of competitors: Capital One, PNC Bank and U.S. Bank. Overall, consumers were slightly less happy with their regional banks than they were the year before, as the average rating for all banks dropped 1.3%.
Here is the full ranking of regional banks:
2019 American Customer Satisfaction Index (ACSI) Super Regional Banks Ranking |
|||
| Bank | 2019 Score | 2018 Score | % Change |
| BB&T | 80 | 79 | 1% |
| Capital One | 79 | 81 | -2% |
| PNC Bank | 79 | 78 | 1% |
| U.S. Bank | 79 | 79 | 0% |
| Citizens Bank | 78 | 78 | 0% |
| Fifth Third Bank | 78 | 75 | 4% |
| Regions Bank | 78 | 79 | -1% |
| TD Bank | 77 | 80 | -4% |
| KeyBank | 76 | 77 | -1% |
| SunTrust Bank | 76 | 81 | -6% |
| American Customer Satisfaction Index. The scoring scale is 0-100. | |||
To arrive at their findings, ACSI interviewed 30,413 customers, chosen at random and contacted via email between October 8, 2018, and September 20, 2019. Customers were asked to evaluate their recent experiences with financial services provided by the largest firms in terms of market share, plus an “all others” category for companies with a smaller market share.
Final Thought
If you really want to earn more interest and grow your savings, consider making the switch from a traditional bank to an online bank.
Online-only banks are growing in popularity because they generally have lower fees and higher interest rates than the big banks — and they’re still a safe place to keep your money.
Ready for a new bank? Check out our list of the best online banks with free checking and high-interest savings accounts!
More Clark.com Banking Articles:
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