Customer satisfaction with finance industries remains relatively strong for the most part.
“The finance industry may appear stable on the surface, but our data uncovers a more complex picture beneath the topline numbers”
Of the four industries measured in the American Customer Satisfaction Index (ACSI®) Finance Study 2025 banks, credit unions, financial advisors, and online investment — only financial advisors experience a modest customer satisfaction gain, improving 1% to a score of 81 (out of 100). Banks and credit unions, both unchanged year over year, finish with relatively strong marks of 80 and 79, respectively. Online investment, the only one to falter, suffers a 3% decline to a last-place score of 77.
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“The finance industry may appear stable on the surface, but our data uncovers a more complex picture beneath the topline numbers,” says Forrest Morgeson, Associate Professor of Marketing at Michigan State University and Director of Research Emeritus at the ACSI. “While some industries like banking and credit unions maintained consistent satisfaction levels, the significant volatility we observed at the individual brand level, with score fluctuations ranging from -9% to 5%, demonstrates the highly competitive nature of this landscape. Companies cannot afford to be complacent, as the ability to adapt and deliver exceptional customer experiences will be key to standing out from the crowd.”
USAA and Regions Bank are the banking standouts
Within the banking industry, regional and community banks continue to outperform larger institutions, improving 1% to an ACSI score of 83. Super regional banks climb 3% to 79, tying national banks, which slip 1% year over year.
Despite sliding 3%, USAA Bank, available to military-affiliated individuals and families only, tops the super regional segment and industry overall with an ACSI score of 84, thanks in large part to the high quality of its website, mobile app, and call center satisfaction.
Regions Bank undergoes the largest satisfaction gain among super regional banks (and the bank industry), jumping 5% to 83. This gain is driven in part by improved performance in account-related and service-related aspects of the customer experience. However, Regions Bank may be in for a bit of trouble in the future if forced to change its mobile app following USAA’s lawsuit.
TD Bank and KeyBank both increase 3% this year, posting ACSI scores of 81 and 79, respectively. Conversely, BMO (formerly Bank of the West) undergoes the largest satisfaction decline, falling 8% to land at the bottom of the segment (and the industry overall) at 71.
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Although Bank of America and Chase lead all national banks at 80 apiece, both slip 1% year over year. Wells Fargo, up 1% to 78, is the only national bank to improve. Citibank, on the other hand, tumbles 6% to 74. Like many brands within the bank industry this year, Citibank has difficulty providing the same level of service with fewer locations and more being shut down for both branch and ATM customers. It also sees declines in the call center experience, website satisfaction, interest rates, and complaint handling.
Fidelity is the only online investment bright spot
While six of seven online investment firms experience downturns, Fidelity thrives, surging 4% to an ACSI score of 83. Improvements in key customer service processes like customer support, planning tools, and investment information as well as providing lower-cost options for all tiers of investment needs appear to be driving Fidelity’s industry-leading success.
Charles Schwab (down 1%) and Vanguard (down 1%) finish at 78 and 77, respectively. Edward Jones stumbles 3% to 76, followed by E*Trade (Morgan Stanley), down 5% to 75, and Robinhood, down 4% to 74.
Merrill Edge (Bank of America) drops a staggering 9% — the largest decline in the finance study — to finish in last place with a score of 69. Bank of America’s decision in 2024 to merge all of its mobile apps (Bank of America, Merrill Edge, MyMerrill, Bank of America Private Bank, and Benefits OnLine) into a single app may have played a serious role in this deterioration. Customer evaluations of Merrill Edge’s mobile app reliability and mobile app quality have significantly suffered year over year.
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Fidelity fuels financial advisors
Although only one company scores higher in 2025, the financial advisors industry is the most competitive for satisfaction, showing the slimmest gap (6 points) between the highest and lowest scores.
As with online investment, Fidelity sets the tone, surging 5% to an ACSI score of 83 — to share the top spot with the aggregate of all other smaller advisory firms (unchanged). Fidelity shines for competitiveness and clarity of fees and efforts to provide lower-cost options. It also improves across all customer experience metrics, including advisor trust and confidence, mobile options, and investment performance.
Meanwhile, Charles Schwab slips 2% to 80, followed by Morgan Stanley and Well Fargo, which both slide 3% to 78. Despite a steady score of 77, Merrill (Bank of America) finishes in last place.
The ACSI Finance Study 2025 is based on 11,979 completed surveys. Customers were chosen at random and contacted via email between January and December 2024. Download the study, and follow the ACSI on LinkedIn and X at @theACSI.
No advertising or other promotional use can be made of the data and information in this release without the express prior written consent of ACSI LLC.
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Source – Intent Market Research
