Yahoo has an article up that shows how much customer misery there is out there with the big banks. Check out these stats:
The report, Forrester’s annual Customer Advocacy rankings, ranks nearly 50 financial services firms in the United States by the percentage of each firm’s customers who agree with the statement: "My financial provider does what’s best for me, not just its own bottom line." The results are based on a survey of about 4,500 consumers.
The bottom seven of this year’s rankings, first to last, are Bank of America, Chase, Capital One, TD/Commerce, Fifth Third, Citibank, and in last place, HSBC.
Among Bank of America customers, 33 percent agreed with the statement above, while 31 percent of Chase customers agreed, 29 percent of Capital One customers agreed, 28 percent of TD/Commerce Bank customers agreed, 27 percent of Fifth Third Bank customers agreed and 26 percent of Citibank customers agreed.
A full 33% of Bank of America’s customers believe that their bank is looking out for them. That means 67% do NOT. Wow.
Have I mentioned I’m a big fan of credit unions? The number one reason that I like doing business with a credit union is that they aren’t trying to make a profit from me. That results in higher rates on deposits, lower rates on loans and lower fees.
Anyway, go check out the article. It’s worth reading