WHAT IS AMERICA’S MOST TRUSTED RETAIL BANK?
2023 Best Retail Bank
Retail banking offers savings and checking accounts, financial advisory services, and access to in-person solutions at local branches. As interest rates change and the need for trusted advice increases, many people will turn to their local bank branch to learn and make financial decisions. A relationship with a local banker remains a core feature that people desire and seek when searching for a bank. Given the multitude of banking choices, what retail bank is most trusted?
2023 America’s Most Trusted Study
The America's Most Trusted® study was created more than a decade ago to understand better how trust influences customer behavior. The consumer-driven data insights provided by this research are based on social and opinion science research practices that adhere to the highest quality standards.
Approximately 50 studies are conducted annually in which we capture people’s opinions and experiences with brands, and once a year, we share insights on which brands consumers trust most. See the survey methodology and frequently asked questions for details.
A brand's trustworthiness sets it apart from its competitors. It is it that distinguishes brands and companies from one another. Profits, loyalty, positive word of mouth, and customer satisfaction are all based on trust. With trust, revenues increase, costs drop, and customer satisfaction soars.
As defined by three levels of consumer trust: Trust Advocates, Trust Neutrals, and Trust Antagonists, the Net Trust Index Quotient Score is used to rank the brands. A brand with the highest Net Trust Index Quotient Score has significant consumer trust, whereas a brand with a Trust Antagonist voices distrust.
What are the top retail banks people trust the most?
2023 America’s Most Trusted Retail Bank
The Lifestory Research 2023 America’s Most Trusted® Retail Bank Study found Chase as the most trusted brand among people considering opening an account at a retail bank. With a Net Trust Quotient Score of 102.0, Chase had the highest trust rating among the most popular retail banks.
The most trusted retail banks, in order, were Chase, Capital One Bank, Citibank, Bank of America, PNC Bank, TD Bank, Citizens Bank, Bank of the West, US Bank, Ally Bank, Barclay's, Union Bank, SunTrust, Wells Fargo, and HSBC. Chase received the best reviews and trust ratings among the most popular retail banks as judged by consumers.
The Lifestory Research 2023 America’s Most Trusted® Retail Bank ranking is based on 5,629 opinions of people surveyed between January and December in the United States. Brands included in the final ranking were nationally recognized by people actively considering opening an account at a retail bank.
If a retail bank brand had a low brand awareness and did not have enough brand judgments, these brands were excluded from the rankings. To be considered, brands needed to receive enough survey responses to achieve a 95% confidence level with no more than a 3% margin of error.
Here we share the list of top retail banks ranked in the 2023 America’s Most Trusted® study.
TOP 15 Banks – 2023 Study Ratings
| 1 | Chase | 102.0 | ★★★★★ |
| 2 | Capital One Bank | 98.1 | ★★★★ |
| 3 | Citibank | 95.3 | ☆☆☆ |
| 4 | Bank of America | 91.4 | ☆☆☆ |
| 5 | PNC Bank | 89.4 | ☆☆☆ |
| 6 | TD Bank | 89.4 | ☆☆☆ |
| 7 | Citizens Bank | 86.5 | ☆☆ |
| 8 | Bank of the West | 85.4 | ☆☆ |
| 9 | US Bank | 85.3 | ☆☆ |
| 10 | Ally Bank | 84.7 | ☆☆ |
| 11 | Barclay's | 84.7 | ☆☆ |
| 12 | Union Bank | 83.8 | ☆☆ |
| 13 | SunTrust | 81.0 | ☆☆ |
| 14 | Wells Fargo | 80.9 | ☆☆ |
| 15 | HSBC | 75.2 | ☆☆ |
No promotional use or advertising can be made of America's Most Trusted® survey results without the express prior written consent of Lifestory Research
Results for prior years of the America’s Most Trusted® study can be found here.
Lifestory Research America's Most Trusted® Study results are based on survey responses and should not be considered legal or financial advice. Your experiences may vary. For details, see our Terms of Use and Legal Notices on the Lifestory Research website.
America's Most Trusted® is a registered trademark of Lifestory with all rights reserved.
We base our independent and unbiased ratings, reviews, and awards on detailed survey feedback based on the opinions of the people surveyed and the trust ratings they provide. Lifestory Research ratings are based on real people’s opinions and rigorous social scientific survey standards, including sample sizes that seek to represent the opinions of the group of people being surveyed. The ratings are not based on the personal opinions, tests, or experiences of Lifestory Research. The results of the studies are not derived from third-party reviews and ratings, editorial committees, or industry professionals.
Details of this annual research study are on the survey methodology page.
Additional insights and questions are answered in our press releases or the frequently asked questions.
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