Customer survey ranks banks amid cost of living crisis – GOV.UK

We use some essential cookies to make this website work.
We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services.
We also use cookies set by other sites to help us deliver content from their services.
You can change your cookie settings at any time.
Departments, agencies and public bodies
News stories, speeches, letters and notices
Detailed guidance, regulations and rules
Reports, analysis and official statistics
Consultations and strategy
Data, Freedom of Information releases and corporate reports
A survey of thousands of individuals and small businesses shows how well banks are looking after their customers as people face the rising cost of living.
The latest independent results from large scale surveys ranking the service quality of personal and business current account providers in Great Britain and Northern Ireland are available via the links below:
Following its investigation into the retail banking sector, the Competition and Markets Authority (CMA) made it compulsory for all relevant banks to take part in these surveys, so customers get the full picture. Account providers must display their ranking prominently both in branch and on their websites and apps.
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 survey 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.
Overall, the top-ranked personal current account providers in Great Britain are:
Overall, the bottom-ranked personal current account providers in Great Britain are:
Overall, the top-ranked business current account providers in Great Britain are:
Overall, the bottom-ranked business current account providers in Great Britain are:
The top-ranked personal current account providers in Northern Ireland overall are Starling Bank, Monzo and Nationwide while the bottom-ranked current account providers are AIB, Bank of Ireland UK and Ulster Bank.
Overall, the top-ranked business current account providers in Northern Ireland are Santander and Danske Bank while the bottom-ranked business current account providers are Bank of Ireland UK and AIB.
Adam Land, Senior Director at the 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.
If you’ve found another bank that could give you a better deal, the Current Account Switch Service helps to make the process of switching much simpler. This free service is available to anyone with a personal or business current account in the UK.
Check the list of participating banks and building societies to make sure you can use the Current Account Switch Service.
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.
The CMA enforces the Retail Banking Order, and regularly checks that banks are doing what they’re required to do. If the CMA finds the Order is being breached, it can take action. Learn more about what happens when banks breach the Order.
Don’t include personal or financial information like your National Insurance number or credit card details.
To help us improve GOV.UK, we’d like to know more about your visit today. We’ll send you a link to a feedback form. It will take only 2 minutes to fill in. Don’t worry we won’t send you spam or share your email address with anyone.

source

Leave a Comment