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American bank customers’ trust in national banks has grown, providing yet another challenge for local and regional banks looking to acquire new customers and deposits.

According to a new study from J.D. Power, customers of the largest national bank brands have higher levels of confidence that their banks can meet their financial needs and support them in challenging times. In turn, customer satisfaction has also increased.

“Customers of the national banks had improved satisfaction and trust in 2024, as they experienced better service levels when using branches, when resolving problems and when receiving advice or guidance from the bank,” Paul McAdam, senior director of banking and payments intelligence at J.D. Power, said in a statement.

The only facet of the customer experience with a sharp decline in satisfaction was when customers used self-service technologies to contact the bank to seek information, ask a question or make a request. J.D. Power analysts said this highlights the importance of investing in digital technologies and qualified staff to meet customer needs.

“Although satisfaction dropped when customers used self-service technologies, trust was preserved due to positive experiences with courteous and knowledgeable representatives in phone and in-branch interactions,” McAdam said.

Capital One ranked highest in overall satisfaction for a fifth consecutive year. Chase ranked second and TD Bank came in third.

The study defines a national bank as a U.S. bank holding company with domestic deposits exceeding $300 billion and at least 200 branches. The 2024 study is based on responses from 11,066 retail banking customers and was fielded from July through October 2024.