Current account holders gave it just two stars for branch service, three for customer service. TSB is second from bottom, with a customer score of 67%. Worst banks for customer satisfactionīank of Ireland UK has the lowest customer score of 65%, achieving three stars for every aspect of its service except its mobile banking app (four stars). We also calculate a product score, looking at dozens of elements including rewards and benefits, fees and charges, and how you can operate the account.Ĭhase and Revolut achieved excellent customer scores but their product scores were below average, preventing them from achieving WRP status. Unlike most current account providers, Monzo, Chase and Revolut have not signed up.
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Since 2019 we've insisted that WRPs be signed up to the Authorised Push Payment Scam Code to protect victims of fraud.
While e-money firms must still ringfence your funds in a segregated account, to protect it in cases of insolvency, we can only recommend the more robust, independent FSCS safety net. Instead, it operates under an e-money licence in the UK, so you aren't covered under the Financial Services Compensation Scheme (FSCS). Revolut doesn't have a banking licence in the UK. We don't just pick Which? Recommended Providers (WRPs) on the basis of their customer score. Find out more: who owns who in banking?.If you have accounts with both, limit deposits to below £85,000 across both brands so your money is fully covered by the Financial Services Compensation Scheme. In recent years First Direct has frequently offered cash if you switch your banking to it - as much as £175.įirst Direct performed best of 11 banks in a Which? Investigation into fraud helpline waiting times, taking just 16 seconds, on average, to answer the phone.įirst Direct is a division of HSBC. Its current account has an interest-free overdraft buffer of £250, but beyond this an overdraft is very expensive at 39.9%.
Go further: the Money Helper bank account fees and charges tool can help you compare current accounts offered by most banks based on what they charge for different services and facilities.įirst Direct has the second-highest customer score and, like Starling, received five stars across the board.It only pays 0.05% on credit balances, though, so don't use it for long-term saving.Īlthough it started life as a smartphone bank, Starling launched online banking for personal customers in October 2020. It's one of the cheapest banks we've reviewed for both spending abroad (the Starling debit card is fee-free for purchases and foreign ATM withdrawals anywhere in the world) and overdrafts (as low as 15%, depending on your credit score). Many customers praised how easy its app is to use and its features such as Spaces, which rounds up your spending to the nearest pound and pops the spare change into a virtual piggy bank. It achieved one of the highest customer scores we've ever awarded for current accounts, with five stars for every part of its service we could rate. Starling has clinched the top spot for the third year running and is therefore once more named a WRP. These are the UK current account providers that have both satisfied customers and excellent products: Starling Bank A closer look at the Which? Recommended Providers Where n/a appears, we were unable to rate the bank's product. Where banks have multiple accounts, we have shown the highest score it achieved from our analysis.
Product scores are based on Which? analysis of dozens of different elements, including fees and charges, and how you can operate the account. Where no star rating is given, the sample size was either too small (-) or the provider does not offer this service (n/a). Sample size as follows: Starling Bank (104), First Direct (113), Monzo Bank (191), Chase (141), Revolut (137), Nationwide Building Society (347), Bank of Scotland (131), Metro Bank (101), Ulster Bank (83), Halifax (415), The Co-operative Bank (76), Virgin Money (115), Lloyds Bank (460), Santander (434), NatWest (401), RBS (136), Danske Bank (54), HSBC (323), Barclays Bank (461), TSB (133), Bank of Ireland UK (106). Table notes: Customer scores are based on a survey of 4,525 current account holders in August 2022.
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