A recent survey has shown that people become less trusting of banks the bigger they are. According to a report from Forrester Research, most of the biggest banks in the US lagged behind a survey that tries to determine bank trustworthiness among people today. The survey results showed that the bigger then banks are, the lesser the trust that people have on them.

The research survey involved ranking almost 50 financial services companies in the US and then asking over 4,500 respondents with the following statement:

"My financial provider does what’s best for me, not just its own bottom line."

According to the results, the largest banks, notably JP Morgan Chase, Bank Of America and Capital One are among those banks who found themselves at the bottom of the survey. HSBC, another large banking institution, found itself at the very bottom of the pack. Those respondents who agreed with the statement only range from 16 to 33 percent. Most did not find today’s banks, most especially the largest ones, that trustworthy at all.

Many would have considered the recent economic happenings to have quite an impact on the survey results. After all, most people have blamed the largest banks today to be at the helm of the most serious economic slump the world had to go through in a decade. But this is not merely the case. In fact, it is not merely the recent banking bailouts that people have looked into for this. The largest banks have actually scored near the bottom of similar surveys for almost seven years now. The results show that the image of the banking sector has long been damaged, way before the recent economic disaster that worsened last year.

What most experts on the subject also fear is that the banks today may not be doing their best to uplift the image that they are trying to project. A lot of consumers still see them as institutions that may just be looking after themselves first and foremost and not after the people that they serve. It may be time for the big banks to try and serve the people more nicely if ever they wish to gain the trust of more people in the future.

Source: http://www.walletpop.com/blog/2010/02/14/survey-says-the-bigger-the-bank-the-less-people-trust-them/