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by Lou Farrace on May 3, 2024
Fee-related problems jeopardize customer loyalty. Banks that do not help their customers avoid fee problems risk losing future business.
Fee-related issues deter repeat customers
Proactive prevention of fee-related problems is ideal, as resolving such issues effectively does not fully restore satisfaction, advocacy, or loyalty to their pre-problem states.
According to data from the 2024 J.D. Power Retail Banking Satisfaction Study, “fees” are the top reason why customers consider switching banks.
- How are you helping customers avoid fee problems?
- How easy is it for them to find information?
- How well do they understand the tools available to help them avoid fees?
Insights Sourced From
2024 Retail Banking Satisfaction Study
Proactively Build Customer Loyalty
Lou Farrace
Senior Business Analyst
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