Bank of America, Truist and Wells Fargo rank poorly in customer satisfaction rankings | Local

Regional banks and a recent national entrant to the Southeast banking market received the highest customer satisfaction scores in the JD Power 2022 rankings.

Meanwhile, Bank of America Corp., Truist Financial Corp., PNC Financial Services Group and Wells Fargo & Co. were in or in the bottom half of the 13 banks surveyed for Georgia, North Carolina and South Carolina.

JD Power reports typically measure satisfaction based on five categories (in order of importance): ease of navigation; appearance; clarity of information; service package; and the availability of key information.

For the 2022 ranking, the group placed more emphasis on digital banking and how customers feel their bank is helping them cope with inflation.

United Community Bank was the top performer in the Southeast with a score of 730 on a 1,000 point scale.

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Synovus Bank was second at 690, followed by First Citizens Bancshares Inc. at 692, Woodforest National Bank at 692 and JPMorgan Chase & Co. at 689.

Of 13 ranked banks, Bank of America was seventh at 672, while PNC was 10th at 671, Wells Fargo 11th at 647 and Truist 12th at 640.

Prior to BB&T’s $33.4 billion purchase of SunTrust Banks Inc. that led to the formation of Truist, BB&T consistently ranked first in customer satisfaction.

Truist said he “had nothing to add” to JD Power’s report.

Wells Fargo said in a statement that “we continue to focus on delivering best-in-class products and services, and delivering the meaningful, personalized customer experiences that are essential to building trust and driving customer satisfaction.” .

“A customer’s definition of what their retail banking support looks like is rapidly changing as we enter a new economic cycle and move up the digital adoption curve,” said Jennifer White, Principal Consultant in banking intelligence at JD Power.

“It’s no longer primarily about being fast, efficient or convenient. The predominant performance indicator with the greatest influence on customer satisfaction is “supporting the customer during difficult times”.

“This means clients expect a personalized combination of financial advice, practical problem-solving help and advice on how to make their money work,” White said.

JD Power said banks’ struggles to meet customer expectations for personalization have led nearly half of customers to shift to primarily digital-centric banking relationships.

Another finding is that “consumers are the least satisfied when it comes to their bank’s ability to help them save time or money”.

“Also worth noting: banks’ efforts to reduce fees go unnoticed, and alerts and tips to avoid fees have become important personalization tools.

Rankings weren’t much better, if not worse, for Bank of America, PNC, Truist and Wells Fargo in other parts of the country where they have enough market share to rank.

California: Bank of America ranked sixth and Wells Fargo seventh out of seven banks.

Florida: PNC ranked fourth, Wells Fargo seventh, Truist eighth, Bank of America ninth out of nine banks.

Lower Midwest (Kansas, Missouri, Nebraska, Oklahoma): Bank of America ninth and Wells Fargo 13th out of 13 banks.

Mid-Atlantic (Delaware, Maryland, Virginia, Washington, DC): PNC first, Bank of America third, Truist seventh, Wells Fargo eighth out of eight banks.

North Central (Indiana, Kentucky, Ohio, West Virginia): Bank of America second, PNC seventh, Truist ninth out of 15 banks.

Northwest (Idaho, Montana, Oregon, Washington): Bank of America sixth and Wells Fargo seventh out of seven banks.

Tristate of New York (Connecticut, New Jersey, New York); PNC third, Bank of America fifth and Wells Fargo 16th out of 18 banks.

Pennsylvania: PNC fourth, Bank of America sixth, Truist 11th and Wells Fargo 14th out of 14 banks.

South Central (Alabama, Arkansas, Louisiana, Mississippi, Tennessee); Bank of America fifth, Truist 11th, Wells Fargo 12th and PNC 13th out of 13 banks.

Southwest (Arizona, Colorado, Nevada, New Mexico, Utah and Wyoming); Bank of America third and Wells Fargo seventh out of seven banks.

Texas: Bank of America sixth and Wells Fargo ninth out of nine banks.

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