Young bank customers are more satisfied than seniors: Survey

Core Insights - Customer satisfaction at the largest U.S. banks increased in 2025, with a notable decline in satisfaction among customers over age 65 for the first time in five years [1][3][13] - The average customer satisfaction score across nine major banks rose by eight points to 666 in 2025 [13] - Capital One Financial ranked first for the sixth consecutive year with a score of 702, while Wells Fargo ranked last for the first time since 2021 [7][12] Customer Satisfaction Trends - The 2025 U.S. National Banking Satisfaction Study surveyed over 11,000 retail banking customers, indicating a shift in preferences among older customers who are seeking more than just digital services [2][3] - Seniors are increasingly turning to alternative financial advice sources, such as credit unions and pension providers, due to their complex financial needs [3] - Customers reported improved understanding of credit card rewards, reflecting a desire for more value amid tighter budgets [4][10] Bank Rankings and Performance - U.S. Bancorp improved its ranking from fourth to second, surpassing JPMorgan Chase, which had held the second position since 2022 [8] - Bank of America experienced the largest increase in customer satisfaction, rising 21 points to fourth place from eighth in 2024 [8] - TD Bank saw the most significant drop in satisfaction, falling from third to eighth place with a 17-point decrease [9] Regulatory and Operational Context - Wells Fargo's customer satisfaction score decreased by only two points, despite being freed from a $1.9 trillion asset cap earlier in the year, allowing for more growth flexibility [12] - TD Bank is focusing on enhancing its U.S. operations and technology after facing regulatory challenges [11]