Bank of America and Wells Fargo Lead in Banking Customer Service Survey


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Vocalabs’ Study Shows Many Customers’ Problems Not Solved

MINNEAPOLIS, Minnesota (October 25, 2011) – Among customers surveyed, Bank
of America and Wells Fargo had better phone-based customer service than
Chase and Citi, according to a study on phone-based customer service quality
conducted by Vocal Laboratories Inc. (Vocalabs). In telephone interviews
conducted immediately following a customer service call, 68% of Bank of
America customers surveyed were “Very Satisfied” with the experience, while
63% of Wells Fargo customers gave the experience their top rating. This
compares to the 56% percent of Chase and 52% of Citi customers who were
similarly satisfied.

Problem resolution is an issue industry-wide. Bank of America, Chase, and
Wells Fargo were statistically tied with 64%, 66%, and 64% of customers’
issues resolved on the customer service call, while 57% of Citi customers
surveyed reported their problems were solved.

“Even among routine transactions like checking account balances, over 30% of
the customers we interviewed did not get what they wanted on the customer
service call,” said Peter Leppik, CEO of Vocalabs. “Our survey shows that
problem resolution is a major driver of business goals like customer
loyalty. It also costs a lot of money to serve customers who call back
multiple times.”

About This Research
The National Customer Service Survey (NCSS) tracks customer service quality
in several industries, using telephone interviews conducted with a customer
immediately after a customer service experience. Statistics in this press
release are based on 844 surveys completed between April 2011 and September
2011. The NCSS is underwritten and conducted by Vocalabs, independently of
any of the companies covered.

Download the Executive Summary by visiting To
subscribe to the full data set, contact Vocalabs at [email protected],
952-941-6580, ext. 201.

About Vocalabs
Vocal Laboratories Inc. (Vocalabs) specializes in building effective
customer feedback programs designed to measurably improve the customer
experience. We use a combination of immediate live interviews, automated
customer surveys, and panel research to collect customer feedback tailored
to each client’s business goals. Our reporting tools serve the entire client
organization, from executives to front-line customer service, and our unique
expertise ensures ongoing improvement. Learn more at

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