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Big banks fall down on customer satisfaction

Which? reveals best and worst financial brands


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The UK’s biggest banks are still falling short when it comes to customer satisfaction, according to a new Which? survey. 

Royal Bank of Scotland, Bank of Scotland, TSB, Natwest, Lloyds Bank, HSBC, and Barclays all ranked in the bottom half of the table following an analysis of customer satisfaction among financial brands. 

Santander, the UK’s fifth largest bank, was the exception, ranking 11th in our table. 

We asked more than 20,000 members of the public, in four independent surveys, how happy they are with their current account, savings, mortgage or credit card provider and analysed the results to find the best and worst banking providers.

Which? names best financial brands

First Direct once again tops the table for customer satisfaction with an impressive overall score of 74%. Customers said they liked being able to speak to friendly and well-informed staff at any time of the day, without having to use an automated system.

Satisfaction with building societies was generally high across all product areas and mutuals took six of the top 10 places. Customers said they liked that they operate in a more ethical way and are not seeking profits for shareholders.

Ulster Bank named worst banking provider

Ulster Bank, which has suffered a number of technical issues in the past couple of years, came bottom with an overall score of just 45%.

Commenting on the findings, Which? executive director Richard Lloyd said: ‘With the high street banks failing to score top marks for customer satisfaction it’s clear they still have a long way to go to restore consumer trust. 

‘Banks must ensure they put customers first and offer genuinely good value products and services if they want to compete with the best.’

You can see the full table in October’s issue of Which?.

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