Which? has unveiled the leading current account providers and advised numerous customers to contemplate switching. The consumer advocacy group assessed various product aspects such as fees, overdrafts, charges, and benefits in its recent study. Additionally, they interviewed over 6,600 clients to gauge their satisfaction levels with their existing accounts.
Six providers were distinguished with Which? Recommended Provider (WRP) status, including Chase, Danske Bank, First Direct, Monzo, Nationwide, and Starling. Starling emerged at the top of the list with an 86% customer satisfaction score, earning its seventh WRP accolade. It received a perfect five-star rating for both online and mobile banking and four stars for customer service.
Monzo achieved an 85% customer score, securing five stars for mobile banking ease and four stars for overall customer service. First Direct obtained an 84% customer score and has been the longest-standing current account WRP, holding the title for over a decade.
Nationwide also garnered an 84% customer score, receiving five stars for online banking and four stars for in-branch service. Chase, a digital bank under JPMorgan, attained an 82% customer score, excelling with five stars for its mobile app and four stars for customer service, application ease, and telephone banking.
Danske Bank garnered an 80% customer score, achieving predominantly four-star ratings, notably in overall customer service and online banking. Allied Irish Bank narrowly missed WRP status despite an 85% customer score. Revolut, scoring 83%, was not named a WRP due to operating as an e-money provider in the UK, excluding customers from the Financial Services Compensation Scheme.
Despite the introduction of new current accounts by several banks, a recent Which? survey of over 6,600 account holders revealed that nearly 37% have remained loyal to the same provider for over two decades. TSB landed at the bottom with a 67% customer score, while Virgin Money, Santander, and Halifax closely followed with 71%.
Sam Richardson, Deputy Editor of Which? Money, emphasized the variations among banks and highlighted the benefits of switching to a Which? Recommended Provider for improved perks and services. Representatives from TSB and Virgin Money reaffirmed their commitment to enhancing customer service and banking experiences.
The Mirror contacted Santander and Halifax for their responses to the findings.