J.D. Power pegs Tangerine & RBC as 'The Highest Rated' in Canada ! :-( | General financial discussion | Discussion forum

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J.D. Power pegs Tangerine & RBC as 'The Highest Rated' in Canada ! :-(
May 11, 2021
7:54 am
Dean
Valhalla Mountains, British Columbia
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.
This just in from BNN News https://www.bnnbloomberg.ca/tangerine-rbc-highest-rated-banks-as-overall-satisfaction-with-banks-drops-j-d-power-1.1602098

If they're the Highest Rated, we've got a lot to worry about ❗

Go Figure sf-confused

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

May 11, 2021
10:40 am
zipline
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& Fiat won "Car of the Year" !!

May 11, 2021
11:29 am
cristunity
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zipline said
& Fiat won "Car of the Year" !!  

Maybe from mechanics....

May 11, 2021
8:40 pm
Norman1
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It is better to read what J. D. Power actually says: J.D. Power (11 May 2021): 2021 Canada Retail Banking Satisfaction Study

There is actually not much difference in the satisfaction scores among the top three large banks:

Score Bank
788 RBC Royal Bank
785 Scotiabank
783 TD Canada Trust

Lot more customer satisfaction with the mid-size banks:

Score Bank
840 Tangerine Bank
813 Simplii Financial
811 ATB Financial
May 12, 2021
9:40 am
Dean
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Agreed , Norman.

What J.D. Power 'says' in that article you linked, is more important than the ratings.

One of many examples from that J.D Power article :

    "According to the study, 47% of (Canadian) customers felt their bank completely supported them during the pandemic, significantly lower than the 63% of U.S. customers who said they felt supported by their bank."

The whole article makes for a good read ❗

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

May 12, 2021
2:04 pm
Norman1
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It is also clearer with the J. D. Powers article what is being rated: Satisfaction of the customers and not merits of the products and services being offered.

The sample size is also disclosed: 14,521 retail banking customers.

That's much more than the recent Forbes/Statista ranking with around "43,000 customers in 28 countries" of which Canada is one country.

Please write your comments in the forum.