Bank of America’s customer satisfaction level fell to its lowest in more than a decade, lagging other major US banks as well as credit unions, according to a nationwide survey of bank customers slated to be released Tuesday.
The American Customer Satisfaction Index, published by ACSI LLC, an Ann Arbor, Mich., research firm, gave Bank of America a score of 66, compared with 70 for Citigroup, 71 for Wells Fargo, and 74 of JP Morgan Chase. All other banks averaged 79 percent, while credit unions scored 82.
Comments
justified, I have a mortgage with them and keep a 30k balance in checking and when I call they don't even know your name, fees, hastles
I just spent six months trying to refinance a florida condo, and I finally gave up. All involved apologized profusely, and, I told them I realized it wasn't anyone individual's fault, but that, as an organization, Bank of America should be ashamed of how they treated me.
And, they didn't just lose one mortgage to Regent Bank, a local bank in Ft. Lauderdale. I'm refinancing a rental house in Maine with Kennebec Savings in Augusta, an equity line on my primary residence with Mt. Washington Bank, and I will ultimately move my checking and savings accounts to a local bank. All told, they are losing about $500K worth of business. In the scheme of things, that's not a lot of money, but if enough small investors move their business to local banks like I am doing, it will make a difference. If you've not done business with a local bank, try it. It's refreshing.
This is surprising, after their track record in Mass.!?!?!? BofA is so customer UN-friendly; it has the proverbial, HUGE, tin ear when it comes to customer service. All their advertising about community involvement and how wonderful and ubiquitous their services are - and it is substantial - can't change that.
Boo and hiss on BofA.
This has been an ongoing problem for BofA. This low rating is nothing new. What's really surprising is how reluctant customers are to seek better service elsewhere. BofA probably sees little incentive to improve because they don't need to. The bank's customers just lie down and allow themselves to be walked on.
Improving its image does not begin with general philanthropy, that's all tax write-offs for BofA. The fees this company charges are insane.
Bank of America, like most organizations, association's businesses and institutions have forgotten the concept and value of customer service. Big banks are driven by charts and graphs that focus on skimming off of each and every transaction-reinventing itself at the expense of the customer service.