PROVIDENCE – Citizens Bank earned an 800 score on a 1,000 point scale in J.D. Power & Associates’ 2019 U.S. Retail Banking Satisfaction Survey released this week.
The New England region average was a score of 799, earning Citizens an “about average” rating from the quality survey service.
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The study is based on responses from more than 84,000 retail banking customers of more than 200 of the largest banks in the United States regarding their experiences. The survey was conducted from April 2018 through February 2019.
In New England, Bangor Savings Bank ranked No. 1, with a score of 872 out of 1,000.
New England’s average satisfaction score was the third lowest of the eight regional average satisfaction scores in the nation. The highest was in the South Central region of the U.S., where respondents recorded an average satisfaction score of 823 out of 1,000 for their retail bank. The United States average score was 807.
The survey also found that the banking industry’s reputation remains below pre-recession levels, but have recovered since 2009.
The report also predicted that midsize and regional banks will increasingly compete with big banks for digital-oriented customers.
Other banks with operations in Rhode Island:
- Rockland Trust Co. earned a score of 840, tied for the second highest in the region with Eastern Bank and behind Bangor Savings Bank, earning a “better than most” designation
- TD Bank earned a score of 829, fourth highest in the report, earning a “better than most” designation
- JPMorgan Chase & Co., which is establishing a retail presence in the region, scored 821 on the survey
- Santander earned a score of 801, just ahead of Citizens Bank, earning an “about average” designation
- Webster Bank earned an 800, the same as Citizens
- Bank of America scored a 780 in the report, earning the bank a “the rest” designation.
