Online Banking Customer Satisfaction Up, Survey Says

04.15.08 | Online Banking | 1 Comment | by junger

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Customers are increasingly satisfied with their online banks, according to a new survey from ForeSee Results (says the AP).

The measurement comes from the University of Michigan's American Customer Satisfaction Index, which gave online banking an 82 out of 100, up from 73 in 2003.

The reading of 82 was higher than customers gave banks overall — 78 in 2007 — suggesting they are more pleased with banks' online operations than with branches and call centers. The score is also strong compared to other arenas: Online retailers, the highest-scoring category measured by the ACSI, recently scored 83.

Satisfaction is up partly because people are more comfortable banking online than they used to be, said ForeSee Results president and CEO Larry Freed. Other big reasons he cited include efforts by banks to boost security, allow more types of transactions, and ease navigation.

For the most part, I'm content with the online banks that I use. But there's still a lot they could do better.

First, get rid of ridiculous log in methods. HSBC is the worst when it comes to this, since you have to use their ridiculous virtual keyboard that constantly gives me errors.

Let me add as many external accounts as I want. E-Loan says you can only have one external account "for security," but that's a load of bull. I should be able to take my money wherever I want to go, whenever I want to go.

Speed up transfers. There's no reason it should take so long for my money to get from one account to another. Yes, there are some ACH issues surrounding this, but once that's done, my money should be where I want it.

What would make you more satisfied with your online bank? Leave a comment below.

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