New Survey Finds Consumers Look to Banks for Identity Protection Services Too


San Francisco, CA -- (SBWIRE) -- 02/10/2014 -- (BIDTC) finds consumers considering two different resources for identity protection amid the season of data breaches and identity fraud.

More than 1,000 surveyors responded to the national survey question: Where would you most likely purchase identity protection? The results showed a little more than one-third of the respondents (36.4 percent) would go to a specialized identity theft protection company, such as LifeLock and Identity Guard. Approximately another one-third of surveyors chose to go to their current banking or credit card company (Wells Fargo, Chase, VISA, etc.) for that same protection.

According to the BIDTC review team’s research, financial institutions like banks, credit unions and credit card companies offer a fraction of what specialized identity theft protection companies do.

“Consumers will find that most financial institutions only provide some form of insurance with minimal identity protection services,” said’s website manager John Toolson. “On the other hand, identity theft protection companies provide full services for identity protection, monitoring, resolution, insurance, tools and more.”’s highest ranked financial institution earns a 4.6 out of 10, where the highest ranked identity protection company displays a 9.5 out of 10.

“We want to people to know that purchasing the right identity protection service can make a big difference,” said Toolson. “Financial institutions typically don’t provide the extent of protection you need in an event of a major data breach like Target or Neiman Marcus.”

The BIDTC review team encourages consumers and data breach victims to learn about identity theft protection. Their team has already done the hard work and provides the most important information people should look for in identity protection. With the assistance of BIDTC, all consumers have to do is sign up at their convenience and leave a review (if they wish) to help with the accuracy of each review. finds, reviews and ranks all identity theft protection companies in the industry. The BIDTC team scrutinizes all features before appropriately ranking them, making it easy for consumers to choose the best product.

You can find more survey results as well as ranked financial institutions and identity protection companies by visiting

Surveyors’ demographics were evenly represented in gender, age group and geographical representation of the country. No other statistically significant insights were made.

Media Contact
Jeff Porter