Starling flies to the top of banking polls
Starling Bank has proved unstoppable in the latest large scale banking surveys, coming top for business and personal accounts.
Personal and small business current account holders were asked how likely they would be to recommend their provider to a friend, relative or other business. The surveys also covered the quality of online and mobile provision, branch and overdraft services and, for small businesses, the quality of the relationship management they receive.
The results show customers how their bank is ranked on overall quality of service and make it easier for people to compare offers. They also promote competition between providers, resulting in better experiences for all account holders.
Winners and losers
Overall, the top-ranked personal current account providers in Great Britain are:
- Starling Bank (=1st)
- Monzo (=1st)
- first direct (3rd)
The bottom-ranked are:
- Royal Bank of Scotland (16th)
- Virgin Money (15th)
- TSB (14th)
Overall, the top-ranked business current account providers in Great Britain are:
- Starling Bank (1st)
- Monzo (2nd)
- Handelsbanken (3rd)
And the bottom-ranked are:
- The Co-operative Bank (15th)
- Virgin Money (=13th)
- HSBC UK (=13th)
The top-ranked personal current account providers in Northern Ireland overall are Starling Bank, Monzo and Nationwide while the bottom-ranked are AIB, Bank of Ireland UK and Ulster Bank.
The top-ranked business current account providers in Northern Ireland are Santander and Danske Bank while the bottom-ranked are Bank of Ireland UK and AIB.
‘Vote with your feet’
Adam Land, Senior Director at the Competition and Markets Authority (CMA), said: “As the rising cost of living bites, it’s important that people and businesses have the information they need to manage their money and make savings.
“These results show how banks are treating their customers at a time when many are feeling the pinch.
“When times are tough you find out who’s fighting your corner and if your bank doesn’t match up to the competition – you can vote with your feet and make a switch.”
The survey was established as part of the Retail Banking Order, a set of reforms established by the CMA following its retail banking market investigation in 2016.