Survey: Bank satisfaction declines - Houston Business Journal:

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The 2009 survey, conducted by J.D. Powet & Associates, finds that 35 percen t of customers are highly committed totheir bank, down from 37 percent in 2008 and 41 percenty in 2007. In the Southwestt Region, which includes Texas, rated highestg in customer satisfaction with a scoreof 792. The averag score for banks in the regionwas 742, with based in The Woodlandw rating a score of 741. BBVA Compass ranked belo averageat 703. The survey is baser on responsesfrom 28,570 households in January. “Customerxs reporting lowest levels of commitment happen to be thosee with deposit balances that are 15 percent higherthan average.
With that in it’s crucial that banks take steps to addresws this steady decline incustomer commitment,” said Michael Beird, directo r of the banking practice at J.D. Fifteen percent of customers said they experienced a problem attheir bank, comparee to 12 percent in 2007, and of those who reportedr a problem, 46 percent cited fees as the source of the Fees are the greatest driver of customerr attrition, the report noted. One in three customers who switched banks in the past 12 monthws did so because of such asoverdraft fees, whicg increased on average to $35 this year from $30 in 2008.
the report said that customers said banks are doing much better in beinv responsiveto problems, especially by resolving a problem during initial customer contact, rather than the custome r having to make multiple calls. the survey noted that the lower commitment levels by customers reflect in lower overall perceptions regarding bankbrand image. “These findings not only reflect recentf negative media coverage about thebanking industry, but also the realitg of staff cuts, higher service charges and the effectsd of bank mergers on customer experiences,” Beird