Chase has overtaken challenger banks Starling and Monzo to top the latest banking customer satisfaction survey from the Competition and Markets Authority (CMA).
The best and worst banks have been revealed out of some of the biggest financial providers in the country. Chase has overtaken challenger banks Starling and Monzo to top the latest banking customer satisfaction survey from the Competition and Markets Authority (CMA).
The digital bank, owned by JP Morgan Chase, first appeared on the CMA’s twice-annual league table measuring customer satisfaction for consumer and business accounts in August 2024 at third place. Chase UK chief executive Kuba Fast said: “Our focus at Chase is on providing our customers with an exceptional experience at every opportunity, so we’re delighted to be recognised by our customers for the quality of our service.
“These results are a testament to the fantastic people we have at Chase, and our commitment to putting customers at the heart of everything we do.” Rounding out the rest of the top five was First Direct and Nationwide, while the Co-operative Bank, Virgin Money and the Royal Bank of Scotland were ranked the worst in the table.
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The four largest banks in the UK, Barclays, HSBC, Lloyds and NatWest between them, now control 85% of UK business accounts and 75% of current account. 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.
Best banks based on overall
Chase – 81%
Monzo – 80%
Starling Bank – 79%
First Direct – 75%
Nationwide – 69%
Lloyds – 67%
Halifax – 66%
Bank of Scotland – 65%
Metro Bank – 65%
Barclays – 63%
NatWest – 58%
Santander – 57%
HSBC – 57%
TSB – 55%
The Co-operative Bank – 52%
Virgin Money – 49%
Royal Bank of Scotland – 46%
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.