Are you satisfied with your financial institution? Who you bank with can help determine a lot about your financial situation, including how your money grows over time.
Team Clark’s favorite online banks charge no fees on checking accounts, pay decent interest on your savings account and never rip you off. But which financial institutions are doing the best job delivering solid customer service?
Support, Account Offerings and More: How Does Your Bank Rank?
The American Consumer Satisfaction Index (ACSI) recently released its Finance Study 2023-2024, which shows that national banks and what ACSI calls “super-regional” financial institutions have improved in customer satisfaction over the past year.
Banks in both categories posted gains for benchmarks such as bank teller helpfulness, staff courtesy and the number of branches and ATMs.
Here are some key findings from the study, which grades banks on a 100-scale:
- Military-affiliated USAA Bank scored 87, far and away the best among national banks compared to the others.
- When it comes to super-regional banks, there’s a four-way tie between PNC Bank, Regions Bank, TD Bank and U.S. Bank, which all scored a 79.
- Capital One, which dominated the last time around, was the only bank to post a lower score for satisfaction, sliding 4% to an ACSI score of 78.
Let’s take a look at the top national banks first, and then we’ll move on to the super-regional banks.
Best National Banks According to Customers
| Bank | 2024 Score | % Change From Previous Study |
|---|---|---|
| Bank of America | 81 | 5 |
| Chase | 81 | 5 |
| Citibank | 79 | 1 |
| Wells Fargo | 77 | 1 |
| Overall Average | 80 | 4 |
Best Super-Regional Banks According to Customers
| Bank | 2024 Score | % Change From Previous Study |
|---|---|---|
| USAA Bank (Military-Affiliated Only) | 87 | N/A |
| PNC Bank | 79 | 1 |
| Regions Bank | 79 | 4 |
| TD Bank | 79 | 4 |
| U.S. Bank | 79 | 3 |
| Capital One | 78 | -4 |
| Citizens Bank | 78 | 3 |
| BMO (formerly Bank of the West) | 77 | 4 |
| Fifth Third Bank | 77 | 1 |
| KeyBank | 77 | 4 |
| Santander Bank | 77 | N/A |
| Truist | 77 | 5 |
| Barclays | 67 | N/A |
| Overall Average | 77 | 1 |
The study is based on interviews with 17,115 customers contacted via email between October 2022 and December 2023.
Read the full Finance Study 2023-2024 from ACSI.
How To Choose the Right Financial Institution for You
When choosing a financial institution, Clark wants you to consider not only convenience and access to your cash, but how your money can work for you toward retirement. Let’s consider some tips on choosing a bank:
Avoid Fees
Clark is not a fan of the big banks. Not only does he think you can get better savings rates elsewhere, but his advice is to put your money somewhere that won’t, in his words, “‘fee’ you to death.”
“Many big banks seem to pride themselves on what I call ‘customer no service.’ It’s not a question of if — but when — you’ll get ripped off by your big bank,” Clark says.
Look for Free Checking
Many banks charge you in one way or another for a checking account. That’s a no-no. Consider banks that offer free checking instead.
Look for Low Rates
Interest rates change all the time, which is why you need to do your research on which financial institutions typically offer the lowest rates. That’s one reason why Clark loves credit unions, which usually beat banks when it comes to auto loans and credit card rates. Credit unions also win when it comes to personalized customer service.
Bottom Line
If you’re comfortable stepping away from brick-and-mortar institutions, you may want to consider online banks, which offer many of the amenities we love — like low or no fees — that can help you save over the long term.
Want minimal fees and good returns? Check out our best online banks.
