The first-ever JD Power and Associates 2006 Retail Banking Satisfaction Study found that the average online transaction takes 2.2 minutes, while waiting time drags this out to 7.7 minutes in bank branches.
Nevertheless, face-to-face interactions continued to score highly amongst customers.
"Banks certainly face a challenge in today's extremely competitive market in that customers crave the convenience of banking online, yet still also require a personal touch," said Jeff Taylor, director of the banking practice at JD Power.
He added: "Online products and services represent a clear opportunity for banks to differentiate themselves to potential customers."
The study is based on responses from 12,904 households nationwide concerning their experiences with their primary banking service provider.