New Consumer Bank Satisfaction Survey

Americans are happy with their bank...

• 9 in 10 account holders are “very satisfied” or “satisfied” with their primary bank
• 95% rate their bank’s customer service as “excellent,” “very good” or “good”
• 84% said tech improvements by banks are making it easier to access financial services
• 84% agree they have multiple options when selecting products and services such as bank accounts, loans and credit cards
• 9 in 10 say they have a wide array of choices when deciding where to bank
• 82% say the financial services industry  is highly competitive
• 81% believe their bank is transparent about disclosing fees

...and find credit cards rewarding

• 94% value the convenience  of using their credit cards
• 9 in 10 value their credit cards’ reward programs
• 82% think merchants benefit from accepting credit cards for payment
• 74% would be disappointed to lose their credit card rewards due to government regulatory changes

Bank customers know they are protected

• 9 in 10 agree their bank takes proactive steps to protect them from fraud/scams
• 3 in 4 believe their bank does more than businesses in other industries to protect them from fraud/scams

By a large margin over other industries, consumers trust banks most to keep their information secure:

• 49% Banks
• 24% Health care providers
• 11% Non-bank payment providers (such as Apple Pay, Venmo and PayPal)
• 10% The government
• 3% Cryptocurrency companies
• 1% Telecom companies  (such as Sprint, Verizon and AT&T) 
• 1% Major retailers    

Source: Morning Consult, on behalf of American Bankers Association, conducted an online survey from Sept. 16-17, 2022. The margin of error is plus or minus 2 percentage points, from a weighted sample of 2,211 adults.