Bank of America Corp. retail customers are the least satisfied among clients of the biggest U.S. lenders and the most likely to defect to competitors, according to a Harris Interactive poll, BusinessWeek reports..
Nine percent of people with Bank of America accounts were “not at all likely” to continue to use the Charlotte, North Carolina-based lender, the survey, scheduled to be released today, shows. That is triple the rate of JPMorgan Chase & Co. customers and 50 percent more than Wells Fargo & Co.
Bank of America, the second-biggest U.S. lender by deposits, angered some customers when it announced plans to charge $5 a month for debit-card use. The firm dropped the fee this week after JPMorgan, the biggest bank, and No. 3 Wells Fargo abandoned the tactic. Other new fees, including those for checking accounts, may push clients to credit unions, said Carol Gstalder, EVP at Harris Interactive.
“Our data says that banks absolutely should be worried,” Gstalder said yesterday in an interview. “People know banks are looking for new ways to make up the revenue gap. This may be the start of a tipping point where long term, we may see numbers of people making a move.”…
Read more at http://www.businessweek.com/news/2011-11-15/bofa-should-be-worried-as-clients-mull-leaving-poll-shows.html
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