What a new national survey says about customer service from Charlotte’s big banks
Banks with a big footprint in uptown Charlotte slightly improved among competitors when it comes to keeping customers happy, according to a new national satisfaction survey.
Results from the American Customer Satisfaction Index Survey revealed that it’s a common trend for major financial institutions. The study asked consumers to evaluate their experiences with banks’ products and services with the study associated with the University of Michigan.
More than 17,000 customers gave feedback between October 2022 and last December. ACSI surveyors selected participants randomly.
Scores from the 2022 and 2024 reports were compared in the survey. A scale of 0 to 100 was used for the rankings.
Although banks and credit unions have improved customer service through websites and mobile apps, consumers still appreciate a personal touch, said Forrest Morgeson, associate professor of marketing at Michigan State University and Director of Research Emeritus for ACSI, in a news release.
Morgeson said the banking industry had an unprecedented score of 92 for staff courtesy and helpfulness because of service at smaller regional and community banks.
Overall, customer satisfaction in the banking industry was up 3% between 2022 and this year with a score of 80.
Here are the rankings assigned to Charlotte’s biggest banks.
Bank of America
Charlotte-based Bank of America, tied with Chase Bank at the top of the list in the national banks category. The banks received a score of 81 — a 5% increase from 2022 when both banks scored 77.
Customers praised Bank of America for its locations and branches, according to ACSI.
Bank of America Bank has 3,800 financial centers and 15,000 ATMs in the U.S., according to the company. Close to 50 financial centers and 200 ATMs are in the Charlotte region. The bank is planning to expand in nine new markets and four states in the coming years, according to ACSI.
Chase is planning to add 15 branches by the end of 2026 in Charlotte. The New York-based financial institution announced a multibillion-dollar expansion plan this year, which includes opening more than 500 branches, renovating 1,700 locations and hiring 3,500 people by 2027.
Merrill, which is associated with Bank of America, had 77 points within the financial advisors group. Under online investment, Merrill Edge scored a 76.
Bank of America has more than 19,000 employees in the Charlotte region, part of 213,000 workers companywide. It’s the second-largest bank in the U.S.
Truist
Charlotte-based Truist had an ACSI score of 77 and came in third along with four other banks in the super regional banks category. That’s a 5% increase from a couple of years ago for Truist when the company scored 73.
For the recent rankings, other banks tied with Truist were BMO (formerly Bank of the West), Fifth Third Bank, KeyBank and Santander Bank. Four other banks tied for first with scores of 79. The banks were PNC Bank, Regions Bank, TD Bank and U.S. Bank.
As of last year, Truist had more than 50,000 workers throughout the U.S., including more than 3,000 workers in the Charlotte area.
Wells Fargo
The bank scored a 77 among national banks and came in last place behind three other institutions. It was a 1% change compared to 2022 when Wells Fargo scored 76.
Under the financial advisors category, Wells Fargo scored an 80.
The San Francisco-based company employs about 27,000 jobs in Charlotte, which is the largest employment hub for the bank.
Which bank had the highest customer satisfaction score among?
USAA Bank had a score of 87 in the super regional banks category.
The institution offers online banking services to military-affiliated customers affiliated and their families. ACSI said the score is “setting the bar for website satisfaction and mobile reliability.”
About ACSI
The American Customer Satisfaction Index has been a national economic indicator for more than 25 years.
About 400 companies in 40 industries and 10 economic sectors are measured and analyzed. This includes services of federal and local government agencies.
The founding partners of ACSI are the University of Michigan’s Stephen M. Ross School of Business, American Society for Quality and Clares Fornell International, an organization measuring customer, citizen and employee satisfaction.
