Enough With The Fees! Customers Switch Banks

By: Channel 6 News Email
By: Channel 6 News Email

Even though many banks did away plans to charge debit card fees, there was an increase last year in the number of customers who switched banks.

A J.D. Power and Associates survey shows 9.6% of customers switched banks.

That's up from 8.7% in 2010, and a 1/3 of them said fees caused them to make the switch.

It's good news, however, for smaller banks and credit unions which acquired 10.3% of new customers last year-up just over 2% from 2010.

The survey also found customers are more loyal to smaller banks and credit unions.

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