14 Banks with the Worst Reputation

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Banks. They’re supposed to keep your money safe, help you get a mortgage, and maybe even sprinkle a little bit of interest into your accounts along the way. But, for many customers, dealing with their bank is more like walking into a maze with no exit. Have you ever been hit with a fee you didn’t expect or found yourself caught in a seemingly endless loop of unhelpful customer service? You’re not alone.

When it comes to reputation, some banks consistently leave their customers frustrated, and they’re not afraid to talk about it. A recent study by FairShake, which highlights the most hated banks in the U.S., uncovered that many of these financial giants are plagued by issues like hidden fees, poor service, and unethical practices. In some cases, these banks have found themselves on the wrong side of lawsuits, all while continuing to operate as if nothing’s wrong.

From constant complaints about shady fees to allegations of discriminatory practices, these 14 banks have some serious reputation problems. Let’s get into what makes these banks so frustrating for their customers.

1. Wells Fargo

Wells Fargo’s reputation took a major hit after the infamous fake accounts scandal that broke in 2016. The bank had been opening millions of unauthorized accounts in customers’ names, leading to hefty fines and a complete breakdown of trust. Even years later, the scandal still haunts Wells Fargo, as many customers remain skeptical about their business practices.

Beyond the fake accounts fiasco, Wells Fargo has been criticized for poor customer service, mishandling of mortgages, and issues with small business loans. Complaints about excessive fees and problems with account closures have kept the bank in the spotlight for all the wrong reasons.

2. Bank of America

Bank of America has consistently found itself on the wrong end of customer satisfaction surveys. A major point of frustration for customers is the bank’s fees, especially when it comes to checking accounts and overdrafts. Bank of America’s “Maintenance Fees” have left a sour taste in the mouths of many customers, particularly when accounts dip below required minimum balances.

The bank has also faced criticism for its customer service, with many accounts of long wait times and lackluster problem resolution. This has only been exacerbated during the pandemic, as delays in handling fraud cases and disputes left customers feeling vulnerable.

3. Chase Bank

Chase may be one of the biggest banks in the U.S., but that doesn’t mean it’s immune to negative feedback. Like many large banks, Chase has come under fire for excessive fees, particularly overdraft fees and fees attached to maintaining basic accounts. Customers often complain about feeling nickel-and-dimed for every little service.

Additionally, Chase’s customer service has been hit or miss for many. Long wait times, especially for online support, have frustrated customers trying to resolve account issues. Even though Chase offers a wide range of services, from credit cards to mortgages, it’s the banking experience itself that often leaves people dissatisfied.

4. Citibank

Citibank, despite being one of the world’s largest financial institutions, has struggled with a tarnished reputation, particularly in recent years. Customer complaints frequently focus on the bank’s outdated technology and confusing online banking system, which doesn’t stack up against other big-name competitors.

Beyond the tech problems, Citibank has been accused of not prioritizing customer service. Long wait times, especially when it comes to resolving fraud cases, have left many customers feeling helpless. Citibank’s reputation as a global powerhouse hasn’t protected it from the wrath of unhappy users looking for more from their bank.

5. HSBC

As an international banking giant, HSBC has a mixed reputation depending on which country you’re in. In the U.S., however, HSBC hasn’t managed to win over the masses. One common complaint involves the bank’s fees, which often feel excessive and complicated. Customers report being hit with charges for things they didn’t even realize they had agreed to, like minimum balance requirements on savings accounts.

HSBC’s customer service is also a sore spot, with many customers citing difficulty reaching representatives or resolving disputes. The bank’s global reach may be impressive, but when it comes to satisfying U.S. customers, HSBC seems to fall short.

6. Capital One

Capital One may be famous for its catchy “What’s in your wallet?” commercials, but the reality for many customers is far less appealing. The bank’s fees, especially those tied to credit cards, have been a source of frustration. Overdraft fees and penalties for late payments on loans are other common issues that have led to customer dissatisfaction.

In addition to fees, Capital One has faced criticism for security breaches that exposed customer information. The 2019 hack, which compromised the personal data of over 100 million individuals, shattered the trust of many of the bank’s customers.

7. SunTrust (now Truist)

Before merging with BB&T to become Truist, SunTrust had already built up a fair share of negative reviews, and the merger didn’t smooth things over. Complaints about poor customer service, lack of transparency in loan terms, and surprise fees have kept SunTrust on the list of banks with a reputation problem.

The transition to Truist hasn’t helped ease customer concerns, with many experiencing confusion during the merger. Technical glitches and issues accessing accounts have made the banking experience even more frustrating for SunTrust customers. Unfortunately, instead of marking a fresh start, the merger has only extended SunTrust’s long-standing reputation issues.

8. TD Bank

TD Bank likes to market itself as “America’s Most Convenient Bank,” but for many customers, convenience is the last word they’d use to describe it. Customers often cite the bank’s fees as a major problem, with many feeling trapped by high overdraft fees and account maintenance charges. The bank’s fees have earned it a spot on the list of banks with the most customer complaints.

Customer service at TD Bank also leaves something to be desired. Customers report long wait times and difficulty getting problems resolved when things go wrong. Even though TD Bank has branches that stay open longer than most competitors, the actual experience of banking with them doesn’t live up to the convenience they promise.

9. Ally Bank

Ally Bank is known for being an online-only bank, which can be both a blessing and a curse. Without brick-and-mortar locations, customers often feel disconnected when trying to resolve issues. Customer service complaints about Ally frequently mention long wait times and disappointment with the bank’s inability to resolve problems quickly.

Ally has also been criticized for its fees, particularly related to overdrafts and loan payments. For an online bank, where convenience is supposed to be a key selling point, customers often find that when things go wrong, getting assistance isn’t as easy as it should be.

10. Fifth Third Bank

Fifth Third Bank is another name that often crops up in discussions about poor customer service and unexpected fees. The bank’s overdraft fees, in particular, are a major source of annoyance, with many customers feeling blindsided by the high costs associated with even small overdrafts. Additionally, Fifth Third’s handling of mortgages has left some customers unhappy, especially when it comes to the clarity of loan terms.

Beyond fees, Fifth Third has faced complaints about long wait times for customer service and poor communication when it comes to resolving disputes. While the bank has attempted to improve its services, the volume of customer dissatisfaction keeps its reputation from climbing out of the red.

11. BBVA USA (now PNC)

BBVA USA merged with PNC, but its prior reputation continues to haunt the new entity. Before the merger, BBVA had a history of complaints tied to unexpected fees and poor customer service. Many users cited difficulties in getting issues resolved and a general lack of responsiveness when problems arose.

Even after merging with PNC, customers have reported confusion over account transitions and difficulties with the new system. BBVA’s reputation for being difficult to deal with, both online and in-branch, hasn’t faded, leaving many customers wary of the bank post-merger. For some, the change in branding hasn’t meant a change in experience.

12. KeyBank

KeyBank has earned a reputation for frequent complaints about fees, particularly regarding overdrafts and account maintenance. Customers have often expressed frustration with the way the bank handles its accounts, with many citing unclear communication and surprise charges as recurring issues.

Another sore point for KeyBank customers is the customer service experience. Long hold times and difficulties in getting disputes resolved leave many customers feeling ignored. Even though the bank has made efforts to modernize its services, the long list of grievances makes it difficult for KeyBank to shake its negative reputation.

13. M&T Bank

M&T Bank’s reputation took a hit due to its fee structure, with many customers upset over how often they are charged for what seems like minor infractions. Overdraft fees, in particular, are a common source of frustration. The bank also hasn’t won any points for its customer service, with numerous complaints about slow response times and difficulties resolving issues.

In addition to fees and service, M&T Bank’s digital experience has left much to be desired. Customers have reported glitches and difficulties accessing their accounts online, making managing their finances more challenging than it should be.

14. Regions Bank

Regions Bank has built up a reputation for high fees and a lack of transparency. Customers frequently cite issues with overdraft charges, account maintenance fees, and loan-related costs that they weren’t expecting. This feeling of being surprised has led to a lot of frustration for many customers, particularly those who don’t feel the bank is up-front about its fee structures.

Regions’ handling of disputes and customer complaints has also been a sore point. Many customers feel like they’re left waiting too long to get resolutions, adding to their exasperation.

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