1 in 10 consumers likely to switch banks over the next year

Crumbling bank facade

Yeah, we're still pissed about higher fees and lousy service.

One of out every 10 consumers is likely to switch primary banks in the coming year, taking a substantial $675 billion in deposits with them, according to a new study by Javelin Strategy & Research.

Citibank and Bank of America are our least favorite banks, with more than one in four customers at risk of switching.

So what might keep us from rushing for the exits?

Javelin says “convenience trumps fees” when we pick a bank.

Which is exactly what Craig Guillot wrote earlier this month in his blog post I hate my big bank, but I’m sticking with it.

“Chase offers a lot of convenience and superb Web banking capabilities that smaller institutions simply can't beat,” Craig said.

Indeed, Javelin says the four giant banks -- Bank of America, Chase, Citibank and Wells Fargo -- remain our benchmarks for convenience.

It starts with their huge networks of branches and ATMs and extends to their online and mobile banking apps.

So no matter how disgruntled we may be with big bank fees and services, community banks and credit unions will have to offer the same sophisticated online and mobile banking service to lure us away from the big boys.

Let’s hope they’re listening to Javelin.