Survey Says?: Big Banks Suck!

Posted by Reagan Lynch on February 9, 2010 under Banking | Be the First to Comment

Do you like your bank?

I just read that customers of big national banks don’t trust them. I can understand this and the survey from Forester Research points out that the same seven banks are always at the bottom of the list because, “They are public institutions who are in business to make money for their shareholder and inevitably, that shows to customers”, according to Forester VP Bill Doyle.

I can tell you I personally don’t trust these big banks myself. I’m currently in the process of closing all my accounts at Bank of America. I cannot get Chase off my files because they hold my mortgage, but I don’t like them either.

I’m also getting close to not liking community banks. Mainly because I dislike fees of any kind, and I’m starting to really like internet banks and credit unions even more than before.

It is very interesting in the survey to see that banks like USAA and ING Direct ranked at or near the top of the list.

Other interesting takeaways from the survey included Insurers ranking high in customer advocacy and investment firms falling below banks, but Forester says investment firms drop in the rankings when the market is down.

How about you. Do you like your bank? What about your insurance company or investment firm?