TROY, Mich. — Retail banks are maintaining overall customer satisfaction levels, but “warning signs” are emerging as customers increasingly spread their deposits across multiple institutions, according to the J.D. Power 2026 U.S. Retail Banking Satisfaction Study released Thursday.
The study found that while satisfaction ticked up slightly, underlying engagement metrics are weakening, signaling what researchers describe as a “soft switching” trend in which customers quietly move funds away from their primary banking relationships.
“Retail banks are confronting an incredibly complex, highly nuanced set of challenges in the current marketplace,” Jennifer White, senior director of financial services intelligence at J.D. Power, said in a statement. “While overall customer satisfaction is holding steady, cracks are emerging at key points in the customer journey, which are opening the door to quietly establish new accounts with other institutions and gradually shift funds away from their primary bank. J.D. Power is seeing signs of this ‘soft switching’ phenomenon across various datasets, and it is coming through clearly in the Retail Banking Satisfaction Study in the form of declining levels of customer satisfaction with personal service interactions over the course of the past 12 months.”
According to J.D. Power, and as any credit union can confirm, the average retail banking customer now maintains multiple deposit relationships, with signs that customers are increasingly willing to move funds when service expectations are not met.
Key Findings
Following are some key findings of the 2026 study:
- Customer satisfaction declines across most common touchpoints: While overall customer satisfaction with retail banks climbs two points (on a 1,000-point scale) to 657 in 2026, sharp declines in the second half of the year show growing strain in the customer experience with phone, branch, online and automated customer engagement channels.
- More customers move money from their primary bank: The average retail bank checking account customer now maintains three deposit accounts at different institutions, and 20% of retail bank customers have moved money away from their primary bank within the past three months, up from 17% last year. Customers most likely to move money are those under age 40 (23%); those in the affluent/mass affluent wealth bracket (25%); and those who are financially healthy (24%).
- National banks close gap with midsize banks on problem resolution: Satisfaction with the problem resolution experience climbs to 587 among national banks, which is up 49 points from 2024. Among midsize banks, the average problem resolution score is 548, which is down 27 points from 2024, J.D. Power reported.
- Banks offering great everyday customer experience positioned for success: The retail banks that are consistently driving the highest levels of overall satisfaction are those that on a regular basis treat routine customer experiences–such as alerts, funds transfers, fees and face-to-face interactions–as opportunities to reinforce clarity and confidence.
The study ranks customer satisfaction across 15 geographic regions, with several banks repeating as top performers.
Study Rankings
The study measures customer satisfaction with retail banks in 15 geographic regions. Highest-ranking banks and scores by region are as follows:
- California: Chase (669) (for a second consecutive year)
- Florida: Chase (704)
- Illinois: Wintrust Community Banks (707) (for a fifth consecutive year)
- Lower Midwest Region: BancFirst (738) (for a fourth consecutive year)
- Mid-Atlantic Region: Capital One (693) (for a third consecutive year)
- New England Region: Bangor Savings Bank (712) (for a ninth consecutive year)
- North Central Region: City National Bank (WV) (700)
- Northwest Region: Chase (661)
- New York Tri-State Region: Capital One (686)
- Pennsylvania: Huntington (702)
- South Central Region: FirstBank (705)
- Southeast Region: United Community (725) (for a third consecutive year)
- Southwest Region: Chase (673)
- Texas: Frost (757) (for a 17th consecutive year)
- Upper Midwest Region: Gate City Bank (718) (for a second consecutive year)
About the Study
Now in its 21st year, the J.D. Power U.S. Retail Banking Satisfaction Study measures satisfaction across seven dimensions, in order of importance: trust; people; account offerings; allowing customers to bank how and when they want; saving time and money; digital channels; and resolving problems or complaints.
The 2026 study is based on responses from 107,059 retail customers of the largest banks in the United States regarding their experiences with their retail banking institution, according to J.D. Power. The survey was fielded from January 2025 through January 2026.
J.D. Power defines national banks as those with $250 billion or more in domestic deposits; regional banks as those with $60 billion to $249 billion in domestic deposits and at least 200 branches nationally; and midsize banks as those with 45-100 branches nationally and at least 20 branches within a respective region.
