RANKED: 2024 AMERICA’S MOST TRUSTED RETAIL BANK 

What are the Best Retail Bank Brands? 

The retail banking industry encompasses financial institutions providing services directly to consumers and small businesses. These services typically include basic banking operations such as savings and checking accounts, loans, mortgages, and credit cards. Retail banks play a crucial role in the economy by serving as intermediaries between depositors and borrowers, facilitating the flow of money within a community. Retail banks are often characterized by their extensive branch networks, ATMs, and digital banking platforms. They offer a range of financial products and services tailored to customers' needs. Additionally, retail banks may provide investment services, insurance products, and wealth management solutions.

With shifting interest rates and a growing need for reliable financial guidance, individuals often rely on their local bank branch for information and decision-making. Establishing a connection with a local banker is a fundamental aspect that individuals value when selecting a bank. Considering the diverse banking options available, which retail bank garners the highest consumer trust?

The 2024 America’s Most Trusted Study

Originating more than a decade ago, the America’s Most Trusted® study was set in motion to provide brands with vital insights into the pivotal role of trust in consumer purchasing decisions. Discerning brands comprehend that consumer trust has a direct bearing on business performance. This study has become the definitive gauge for assessing brand trust, eagerly anticipated annually, with updated findings disclosed in January.

Developing retail bank brand trust with customers is essential to ensuring they return to a brand. It is based on their confidence that the brand can fulfill its promises. Customers are more likely to purchase or recommend a retail bank brand if they trust it. Brand trust can also build customer loyalty because customers are more likely to remain loyal to a retail bank brand they trust.

We have shared the most recent America's Most Trusted® study results each year since Lifestory Research began conducting the study. Thousands of people are surveyed on their perceptions and experiences with over 75 products yearly. In this study, we evaluate how much people trust specific brands when shopping for a specific product based on the Net Trust Quotient Score. 

Net Trust Quotient Scores (NTQS) are used to determine whether a product meets customer expectations compared to competing brands within a specific product category by assessing the level of trust customers hold for a particular brand within a specific product category. With this trust metric, consumer-driven insights are provided using social and opinion science research practices that adhere to the highest standards of consumer research.

What are the top retail banks people trust the most? 

2024 America’s Most Trusted Retail Bank

The Lifestory Research 2024 America’s Most Trusted® Retail Bank Study found Chase to be the most trusted brand among people considering opening an account at a retail bank. With a Net Trust Quotient Score of 103.0, Chase had the highest trust rating among the most popular retail banks. This is the fifth year Chase was rated as the most trusted retail bank in the America’s Most Trusted® Retail Bank study.

The Lifestory Research 2024 America’s Most Trusted® Retail Bank ranking is based on 6,976 opinions of people surveyed in the United States over the last 12 months. The most trusted retail banks, in order, were Chase, Capital One Bank, Citibank, Bank of America, TD Bank, PNC Bank, Citizens Bank, US Bank, Barclay's, Bank of the West, Union Bank, Ally Bank, SunTrust, Wells Fargo, and HSBC. 

To be included in the final ranking, brands must have a certain level of brand awareness. Brands with low brand awareness were excluded from the rankings based on the study's criteria. Brands must have received enough survey responses to achieve a 95% confidence level with no more than a 3% margin of error to be included in the final ranking of the study. This confidence level is necessary to ensure that the survey results accurately reflect the opinions of the surveyed population. The sample size must also be large enough to ensure the validity of the survey results. Therefore, the study excluded brands that did not meet this condition.

The top retail banks ranked in the 2024 America’s Most Trusted® study are listed below.

TOP 15 Retail Banks – 2024 Study

No promotional use or advertising can be made of America's Most Trusted® survey results without the express prior written consent of Lifestory Research. America's Most Trusted® is a registered trademark of Lifestory with all rights reserved.

The America’s Most Trusted® study is an annual study examining brand trust across many product categories.  Results for this product category and others from prior years of the study can be found here. Further details of the annual study are on the survey methodology page of this website. Additional insights and questions are answered in our frequently asked questions.  

Lifestory Research America's Most Trusted® Study results are based on survey responses and should not be considered legal or financial advice. Your experiences may vary.  For details, see our Terms of Use and Legal Notices on the Lifestory Research website.

Brands Ranked in Study

The retail bank study is focused on measuring consumers' opinions of the most recognized retail bank brands in the US. In the study, consumers rate the quality of the brand, their likelihood of recommending to others, how favorable they feel about the brand, how they rate the reputation of the retail bank, and their trust in the bank brand.

Here, we provide information on the brands in the 2024 America’s Most Trusted® study. The brands are presented in the order they ranked in the 2024 America’s Most Trusted® study.

1. Chase:
   Chase, officially known as JPMorgan Chase Bank, is a major U.S. bank and a subsidiary of JPMorgan Chase & Co. Headquartered in New York City, New York, USA, Chase is one of the largest banks in the country. It originated from the Bank of the Manhattan Company, founded in 1799, and has since grown through mergers and acquisitions, becoming a prominent player in the financial industry.

2. Capital One Bank:
   Capital One Bank is a subsidiary of Capital One Financial Corporation, headquartered in McLean, Virginia, USA. Established in 1988, Capital One has become a diversified bank offering various financial products and services. It is known for its focus on credit cards, auto loans, banking, and other financial services.

3. Citibank:
   Citibank is a global bank subsidiary of Citigroup Inc., headquartered in New York City, New York, USA. With a history dating back to 1812, Citibank is one of the oldest financial institutions in the United States. It operates in various countries, offering various banking and financial services.

4. Bank of America:
   Bank of America is a major American bank and a subsidiary of Bank of America Corporation. Headquartered in Charlotte, North Carolina, USA, the bank traces its roots back to the Bank of Italy, founded in 1904. Bank of America is one of the largest banks in the U.S., providing a comprehensive range of financial services.

5. TD Bank:
   TD Bank, officially Toronto-Dominion Bank, is a Canadian multinational bank with a significant presence in the United States. Headquartered in Toronto, Canada, and Cherry Hill, New Jersey, USA, TD Bank provides retail banking services. The bank has expanded through acquisitions, including the purchase of Commerce Bancorp in 2008.

6. PNC Bank:
   PNC Bank is a subsidiary of The PNC Financial Services Group, headquartered in Pittsburgh, Pennsylvania, USA. Established in 1845 as the Pittsburgh Trust and Savings Company, PNC has grown through mergers and acquisitions. It is known for its diverse financial services, including retail banking, corporate banking, and asset management.

7. Citizens Bank:
   Citizens Bank is a subsidiary of Citizens Financial Group, headquartered in Providence, Rhode Island, USA. Established in 1828, Citizens Bank has a long history in the banking industry. It provides a range of financial services, including retail and commercial banking and wealth management.

8. US Bank:
   U.S. Bank is a subsidiary of U.S. Bancorp, headquartered in Minneapolis, Minnesota. With a history dating back to 1863, U.S. Bank has grown to become one of the largest banks in the country. It offers various financial services, including retail and commercial banking, wealth management, and payment services.

9. Barclays:
   Barclays is a British multinational bank in the United States. While it is not primarily a retail bank in the U.S., Barclays provides various financial services, including credit cards and online banking. The global headquarters is in London, United Kingdom.

10. Bank of the West:
    Bank of the West is a regional bank and subsidiary of BNP Paribas, headquartered in San Francisco, California, USA. Established in 1874, Bank of the West offers retail banking services, including checking and savings accounts, loans, and wealth management.

11. Union Bank:
    Union Bank is a MUFG Union Bank, N.A., subsidiary of the Mitsubishi UFJ Financial Group (MUFG). Headquartered in New York City, New York, USA, Union Bank provides a range of banking and financial services, tracing back to 1864.

12. Ally Bank:
    Ally Bank is a digital bank that operates primarily online. Formerly known as GMAC Bank, it is a subsidiary of Ally Financial. Headquartered in Detroit, Michigan, USA, Ally Bank was established in 2009 and has gained prominence for its online savings accounts, checking accounts, and auto financing.

13. SunTrust:
    SunTrust, now part of Truist Financial Corporation, was a regional bank headquartered in Atlanta, Georgia, USA. SunTrust's history dates to 1891, and it was known for providing a range of financial services, including retail banking, mortgage, and wealth management. The merger with BB&T in 2019 formed Truist Financial Corporation.

14. Wells Fargo:
    Wells Fargo is a major American bank and a subsidiary of Wells Fargo & Company, headquartered in San Francisco, California, USA. With roots dating back to 1852, Wells Fargo is one of the oldest and largest banks in the U.S. It offers various financial services, including banking, mortgage, and investment.

15. HSBC:
    HSBC Bank USA is a subsidiary of HSBC Holdings plc, a British multinational bank. HSBC Bank USA, headquartered in New York City, provides various financial services. HSBC has a global presence, and U.S. operations contribute to its international banking and financial network.

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