Rabobank Named Among The Best in California

Rabobank Among Best

J.D. Power & Associates released its banking ratings last week. According to its report, only Rabobank, which serves nonmetropolitan California areas was rated “among the best.” In the San Francisco area, Wells Fargo, Union Bank, and Bank of the West were considered “better than most.”

Citibank About Average

U.S. Bank, based in Minneapolis did well, Citibank was depicted as “about average.” Even lower in the ranking was Chase Bank, and at the bottom of the heap was Bank of America.

52,000 Bank Customer Survey

The rankings resulted from a nationwide survey of 52,000 bank customers of banks with deposit totals at more than $2 billion in deposits throughout 50 bank branches.

There has been some reversal of sentiment toward retail banks. Nonetheless, compared to rankings provided by consumers throughout the country, the consumers in the Bay Area assigned lower grades to their banks, according to J.D. Power director of banking, Michael Beird.

In particular, Beird’s findings were that consumers were displeased about rising and fluctuating banking fees, and services such as slow processing transactions.