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Customers more satisfied with National Banks, yet leave for better interest rates

December 19, 2023

Although overall satisfaction with national banks slightly improved 5 points (on a 1,000-point scale) to 653 in 2023 from 648 in 2022, higher deposit interest rates at other financial institutions are driving customers to investment/wealth management and internet-only financial services providers, according to the J.D. Power 2023 U.S. National Banking Satisfaction Study,SM released today. Among the growing proportion of national bank customers with secondary deposit accounts, those with a secondary account at an investment/wealth management or internet-only financial company increased 6 percentage points to 50% in 2023.

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