Consumer opinions on fees, overdraft and cannabis banking

Americans are happy with their bank

• 9 in 10 account holders are “very satisfied” or “satisfied” with their primary bank
• 88% agree they have multiple options when selecting products and services such as bank accounts, loans and credit cards
• 83% believe their bank is transparent about disclosing fees
• 62% say account fees charged by their bank are reasonable

Consumers value overdraft protection

• 89% find their bank’s overdraft protection valuable
• 3 in 4 were glad their bank covered their overdraft payment, rather than returning or declining payment
• 61% think it’s reasonable for banks to charge a fee for an overdraft
  • 3 in 4 view overdraft fees as reasonable when large payments like mortgages or rent payments are covered
• 54% Oppose vs 26% Support
  • U.S. consumers would oppose a government proposal to prevent banks from offering overdraft protection

Consumers support cannabis banking

• 65% support allowing cannabis businesses to access banking services (e.g., checking accounts, business loans) in states where cannabis is legal
• 68% support Congress passing legislation that allows cannabis businesses to access banking services and products in states where cannabis is legal

See more ABA consumer research

Source: Morning Consult, on behalf of American Bankers Association, conducted an online survey from February 18-19, 2022. The margin of error is plus or minus 2 percentage points, from a weighted sample of 2,201 adults.