The two largest retail banks in Massachusetts have some of the least satisfied customers, according to an annual survey of financial services firms.
Bank of America, the largest retail bank in Massachusetts, scored the equivalent of a D+, or a 68 on a 100-point scale of customer satisfaction, according to the survey by American Customer Satisfaction Index, LLC, a Michigan research firm. The survey asked 70,000 consumers about the quality of service at their banks, from whether tellers are helpful, interest rates are competitive, and websites and mobile applications are easy to navigate.
That’s below other major national banks, including Wells Fargo & Co. (with a top score of 75), Citigroup Inc. (73 ) and JP Morgan Chase & Co. (71).
Customers gave Providence-based Citizens Financial Group, Inc., the second-largest bank in Massachusetts by deposits, the equivalent of a C, with score of 70. It was the lowest among large regional banks, including Capital One Financial Corp. of Virginia (77) and TD Bank, NA of New Jersey (75).
Anne Pace, a Bank of America spokeswoman, said the bank has invested heavily in mobile banking, offering customers the ability to deposit checks or pay retailers with from their phones. “We are confident in our relationship strategy and the investments we are making to improve our clients’ experience with us,” she said.
Citizens Bank said it has introduced new accounts, technology, and loan products. “We work hard every day to provide our customers with the best possible banking experience,” said Steve Sylven, a Citizens spokesman.
Deirdre Fernandes can be reached at email@example.com. Follow her on Twitter @fernandesglobe.