Despite recent news of JPMorgan Chase’s trading losses and earnings restatement, Chase Bank customers report that their perception and trust in the national bank remain stable. Only 15% of Chase customers report that they have heard or read information about Chase’s earnings woes in the news and of those that are aware of them, on average their perception and trust of Chase Bank remains neutral. These are among the study findings released today within the Harris Poll and Google Consumer Surveys platform — the first in a series of ongoing Harris Poll benchmark studies.
The study also shows that U.S. national banks continue to evoke customer satisfaction and loyalty, even while consumers remain neutral on the value they receive for the money spent on banking fees. In fact, Chase Bank received the highest overall customer satisfaction rating in the study, with nearly six in ten (59%) Chase customers giving the bank a “satisfied” to “extremely satisfied” rating in overall satisfaction. This compares to Citibank (55%), Bank of America (48%) and Wells Fargo Bank (47%).
One key influence of customer satisfaction is the experience with banking associates, showing that personal service really does matter. When rating the satisfaction of their most recent experience with a banking associate, 25% of Chase Bank customers were “extremely satisfied,” compared to Wells Fargo Bank (22%), Bank of America (19%) and Citibank (12%).
Comprising Chase Bank customers’ satisfaction with their most recent experience with a bank associate, approximately one in four Chase Bank customers were “extremely satisfied” with their bank associate’s friendliness (26%), product and service knowledge (27%), willingness to help (30%) and professionalism (24%).
“All of the national banks need to keep their eyes on the regional banks and credit unions that have a distinct opportunity to attract customers based on their overall attitudes towards banking value,” said Michael de Vere, President of the Harris Poll. “The data shows that customers do not have strong opinions on the value they are receiving from their bank, which presents significant opportunity for financial institutions that can deliver high perceived value to their customers.”
Other financial institutions that wish to collect and compare their customer satisfaction ratings with data from the Harris/Google study can easily do so. Findings are delivered in near instant, Google-powered reports, charts and insights and typically cost up to one tenth the cost of traditional custom research.