Today the CMA is publishing the results of the latest banking satisfaction survey. This includes a league table – the 13th published over 7 years – showing how personal and business current account holders rated the quality of their experience. These tables were first published following the Competition and Markets Authority’s (CMA) market investigation into retail banking in 2016 and is a part of the Retail Banking Order. The banks are required to provide contact details of their personal and business current account holders to two market research companies, so they can be surveyed.

The latest independent results from the large-scale survey ranking the service quality of personal and business current account providers in Great Britain and Northern Ireland are available via the links below:

• Ipsos (which covers personal current accounts)
• BVA-BDRC  (which covers business current accounts)

The survey is designed to show how personal and business account holders rate the quality of services across the broad range of banking offers such as online and mobile banking, overdrafts and in-branch experience. For small business customers, the quality of their relationship with their account manager and quality of those services is also covered.

There are 2 new entrants in this year’s survey – Chase is now included in the Great Britain personal current accounts results and Zemplar Bank is included in the Great Britain business current accounts results.

The CMA requires banks and buildings societies to display the survey results prominently online and in-branch so that customers can see whether they can get a better experience elsewhere.

Great Britain results

Results are for the period July 2023 to June 2024

Overall, the top-ranked personal current account providers in Great Britain are:

• Monzo (1st)
• Starling Bank (2nd)
• Chase (3rd)

The lowest-ranked personal current accounts providers in Great Britain are:

• The Co-operative Bank (15th)
• Virgin Money (16th)
• Royal Bank of Scotland (17th)

Overall, the top-ranked business current account providers in Great Britain are:

• Monzo (1st)
• Starling Bank (2nd)
• Tide and Handelsbanken (joint 3rd)

The lowest-ranked business current account providers in Great Britain are:

• Royal Bank of Scotland (13th)
• The Co-operative Bank and Barclays (joint 14th)
• HSBC (16th)

Northern Ireland results

The top-ranked personal account providers in Northern Ireland overall are Monzo, Starling Bank and Nationwide, while the lowest-ranked current account providers are Ulster Bank, Bank of Ireland UK and Allied Irish Banks.

Overall, the top-ranked business current account provider in Northern Ireland is Santander, while the lowest-ranked business current account provider is Bank of Ireland UK.

Dan Turnbull, Senior Director of Markets at the CMA, said:

It’s important that banks listen to their customers and then provide services in a way that works for them. Strong competition is the most effective way to improve the customer service experience, and this survey provides the transparency that people need to be able to choose a new provider if they feel their bank is not up to scratch.

Notes to editors:

1. The CMA cannot comment on the performance of individual banks. Journalists should speak to the individual banks for further explanation.
2. Personal account providers (such as banks and building societies) with 150,000 or more active account holders in Great Britain and 20,000 or more business current accounts are obliged to collect and publish this data. In Northern Ireland, the equivalent numbers are 20,000 for personal current accounts (PCAs) and 15,000 for business current accounts (BCAs)
3. If customers think their bank has misinformed or overcharged them, they can contact Citizens Advice or the Financial Ombudsman Service.
4. 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. Potential breaches can be reported to general.enquiries@cma.gov.uk

5. Survey numbers below:

   Total number of bank brands in GB – PCA =17 and BCA = 16

   Total number of bank brands in NI – PCA =11 and BCA = 5

   Total number of PCA customers in GB = 17,111

   Total number of PCA customers in NI = 5,545

   Total number of BCA customers in GB = 19,200

   Total number or BCA customers in NI = 3,000

6. All enquiries from the public should be directed to the CMA’s General Enquiries team on general.enquiries@cma.gov.uk or by phone on 020 3738 6000.
7. For media enquiries, please contact the CMA press office on 0203 738 6460 or press@cma.gov.uk