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Bank of America voted least popular; satisfaction at 11-year low

Bank of America voted least popular; satisfaction at 11-year low
Bank of America is ranked the least popular big bank for the fourth year in a row. (Jewel Samad / AFP / Getty Images)

Customers last year were not pleased with Bank of America and its many fees, giving the institution its lowest satisfaction score since 2000.

The score of 66 on a scale of 100 is 3% lower than the bank's tally in 2010, according to the American Customer Satisfaction Index.

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The Charlotte, N.C., company now trails all of its major banking rivals and is the only institution with a grade that's lower than its pre-recession level. It's the least popular bank for the fourth year in a row.

JPMorgan Chase leads the pack of big banks, rising 6% to a score of 74. It beat out Wells Fargo, which has led the board since 2009 but last year slipped 3% to 71. Citigroup dipped 4% to 70.

The overall banking sector saw consumer satisfaction with checking, savings and loan services swell 2.7% to 77. But, taken on their own, smaller institutions do better with customers, scoring 79.

Larger banks, with collected most of the $30 billion in overdraft fees charged in 2011, are losing more customers to more petite rivals and credit unions.

The influx of clients has caused satisfaction with credit unions to take a 5.7% hit, but the sector's 82 score still outperforms other types of banking.

The ACSI report also covers health insurance, which as an industry landed a 72 tally. The Blue Cross and Blue Shield Assn. led the pack, followed by WellPoint, UnitedHealth and finally Aetna.

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