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M&T ranks third in bank-advice study

M&T Bank ranked No. 3 in a survey about customers' satisfaction with financial advice they received from their banks.

J.D. Power's first-ever study of the subject surveyed customers from 17 large banks. M&T scored 821 on a 1,000-point scale. The industry average was 804. Chase was No. 1, followed by Regions Bank.

Among other banks with a local branch presence, Bank of America was No. 4, with 813, KeyBank was No. 6, with 804, and Citizens Bank was No. 17, with 777.

The survey found that 78 percent of customers were interested in receiving advice from their bank, but only 28 percent actually received it.

The study, conducted in November and December, surveyed 3,841 retail bank customers who had received any advice or guidance from their primary bank about products, services or other financial needs in the previous 12 months.

 

 

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