Eighty Percent of Consumers Rate Their Bank High on Accessibility and Responsiveness

Eighty Percent of Consumers Rate Their Bank High on Accessibility and Responsiveness

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Author: Sol Nasisi on September 3, 2013

TD Bank sent me results of a survey they conducted today in which 80% of the respondents ranked their bank excellent or very good in accessibility and responsiveness. The same survey of over 3,000 consumers found that only 10% expect to pay for their checking account and 36% would consider changing their bank because of fees.

According to the survey, non-bank ATM fees were ranked most frustrating by 38 percent of respondents, followed by overdraft fees at 27 percent. Only 13 percent of consumers ranked minimum balance costs as the most frustrating for their account even though the TD Checking Experience Index indicated that the average balance to avoid a monthly cost is $950.

One interesting finding is that banking through a mobile application is preferred by five percent of consumers and used by nearly 30 percent of checking account holders.

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 Bank Not Meeting Your Needs?

If your bank is not meeting your needs, check out BestCashCow’s checking comparison tool. You can compare banks in your area by minimum balance, ATM fees, overdraft fees, and online banking capabilities. Accounts compared include regular checking, free checking, rewards checking, and interest checking accounts.

"Doing a little homework can help consumers find the best checking options and banking experience," said Ryan Bailey, Executive Vice President of Deposit and Payments, TD Bank.

I couldn’t agree more.

View the checking comparison tool.

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

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