7 Worst banks in US

[tomthebarncat]

according to yahoo.com. They listed Bank of America as the #1 worst bank, and sadly they are responsible for military banking. This article does confirm why my Mercedes dealer would not take a euro check for a new car. He told me "everyone knows they have no money!". Go figure that the Germans are so well informed, and of course I will be back in an hour with 7,000 euros in cash!

Here is the link: http://finance.yahoo.com/banking-bu...sted-banks-in-america?mod=bb-checking_savings

 

[Duckfan-in-Chicago]

The Yahoo survey is based on customer satisfaction and not how well a bank is doing financially.

Reading the article, the reason BOA is #1 is because people believe the company is doing whats best for it's bottom line, not because people fear checks are going to bounce.

Last time I looked BOA's Texas Ratio was under 100 while numerous banks were well above 100. Some as high as 700. Anything over 100 is very bad. It's hard to get current info from the fed on your banks because you almost have to file a FOIA with our gov. to read the 'open info'.

 

[Heidict]

I am so glad I have a small town bank. The customer service is great and all the girls know your first name. It seems like any time I have used a large bank they were so impersonal and the customer service was horrible.

 

[RadioNate]

The Yahoo survey is based on customer satisfaction and not how well a bank is doing financially.

Reading the article, the reason BOA is #1 is because people believe the company is doing whats best for it's bottom line, not because people fear checks are going to bounce.

Last time I looked BOA's Texas Ratio was under 100 while numerous banks were well above 100. Some as high as 700. Anything over 100 is very bad. It's hard to get current info from the fed on your banks because you almost have to file a FOIA with our gov. to read the 'open info'.

What they said. This was a customer service survey...more or less. It had nothing to do with their actually banking practices other than what their customers thought of them.

 

[sunnyday123]

Oh, they have the money. They just aren't giving it to anyone.

 

[Angelhalo]

I'm with BOA and it's been nothing but positive We also have a BAO loan office within our real estate office and they are giving out money left and right.

BB&T was the devil when I was with them. I've NEVER been with a worse bank than BB&T!

 

[chrisxtwo]

according to yahoo.com. They listed Bank of America as the #1 worst bank, and sadly they are responsible for military banking. This article does confirm why my Mercedes dealer would not take a euro check for a new car. He told me "everyone knows they have no money!". Go figure that the Germans are so well informed, and of course I will be back in an hour with 7,000 euros in cash!

Here is the link: http://finance.yahoo.com/banking-bu...sted-banks-in-america?mod=bb-checking_savings

Two things...Bank of America was ranked 7th from the bottom. Not the worst. That honor went to HSBC. And most big banks hover near the bottom of this list. It's more of a customer confidence rating than an acutal indicator of how well a bank is doing.

Second, what do you mean "they are responsible for military banking"? I know their credit card division runs the government credit cards for the military but that doesn't affect your personal money. Just curious what you mean.

 

[missypie]

Long time Bank of America customer, long time Bank of America hater. But they have tellers and ATMs in my office building, so I stay with them.

 

[Robinrs]

I've been with BOA for over 20 years (and ALL of their name changes) and totally agree, they SUCK customer service wise, BIG TIME!!

 

[OK!]

The Yahoo survey is based on customer satisfaction and not how well a bank is doing financially.

Reading the article, the reason BOA is #1 is because people believe the company is doing whats best for it's bottom line, not because people fear checks are going to bounce.

Last time I looked BOA's Texas Ratio was under 100 while numerous banks were well above 100. Some as high as 700. Anything over 100 is very bad. It's hard to get current info from the fed on your banks because you almost have to file a FOIA with our gov. to read the 'open info'.

This. I know I'm a little biased, being a B of A customer AND employee, but I have never been anything but satisfied with my treatment by them. Same goes for everyone in my family.

 

[emma'smom]

I can't stand BOA. They are a shady business....they may have money, but that is because they suck and leech it from their customers! It will be a happy day when they go belly-up!

 

[LoraJ]

I'm with BOA and it's been nothing but positive We also have a BAO loan office within our real estate office and they are giving out money left and right.

BB&T was the devil when I was with them. I've NEVER been with a worse bank than BB&T!

I have had no issues with them either. At least not major ones. And their customer service has always been helpful and friendly to me.

I don't have any credit cards with them though, just my savings and checking.

 

[OK!]

I can't stand BOA. They are a shady business....they may have money, but that is because they suck and leech it from their customers! It will be a happy day when they go belly-up!

Very nice.

 

[bookgirl]

Actually it's listed backwards. Of the seven worst scores BOA was number 7.

They were asked "My financial provider does what's best for me, not just its own bottom line."

16% of HSBC customers agreed with this statement.

33% or BOA customers agreed.

That means BOA was bad but not as bad as Chase, Capital One, TD/Commerce, Fifth Third, Citibank, and in last place, HSBC

In the intrest of full disclosure, I have my accounts at BOA, and one CC at Chase. BOA annoys me occasionally but I've chosen to stay with them as they have the best rates and perks for my level of banking.

 

[kwelch10377]

I was a little surprised that TD/Commerce was on there. They merged together about 2 years ago. I was/am a Commerce customer for more than 10 years with a checking account and I have had a loan with them. I have always found them to have great customer service. My guess is that when they merged TD brought down the customer service ratings, alot of policies and fees that weren't in place with Commerce are now in place since the merge.

 

[i'mfluffy]

I can't stand BOA. They are a shady business....they may have money, but that is because they suck and leech it from their customers! It will be a happy day when they go belly-up!

Bank of America won't be going belly up sorry. The have trillions of dollars on deposit. They are doing what banks are supposed to do. Make money. It's not about you the customer. It's about me the shareholder. All banks are FOR profit companies. Their jobs are to make money. If you don't like them you have other choices of who to bank with.

 

[JerseyJanice]

We do the bulk of our banking with Bank of America and don't really have any complaints.

OTOH, after a recent experience I had with Chase, I'm convinced that bank is completely crooked--legal loan sharks. It scares me to think how many people they must prey on.

 

[bettymae1121]

I bank with chase (checking and my main CC) and I have to say, I've been really happy with them. Their online banking is great, the tellers at my local branch are great, and the telephone customer service has also been great the few times I've needed to call them.

All that said, they are a corporation, and I never forget that corporations never look out for me, they always look out for themselves first. I will never assume that Chase, BoA or any other large bank has my best interests in mind.

 

[shrubber]

Oh, they have the money. They just aren't giving it to anyone.

methinks you do not understand how banks are meant to work.

 

[Planogirl]

We had big issues with Chase but BOA has been OK. Not great but OK.