You are here: Home - Saving & Banking - News -

Metro Bank wins top spot in CMA banking survey

Written by: Emma Lunn
Metro was voted the best bank in two of the four categories in the Competition and Market Authority’s (CMA) Service Quality Survey for current account customers.

The challenger bank was rated the bank people would most likely recommend based on both overall service and service in branches.

The Service Quality Survey was introduced by the CMA after it conducted a market investigation into the retail banking sector in 2016.

The six-monthly survey aims to give people better quality information about their provider, the services on offer within the sector and therefore help them choose one most suited to their needs.

The study questioned about 860 customers of the following providers: Bank of Scotland, Barclays, Clydesdale Bank, first direct, Halifax, HSBC UK, Lloyds Bank, Metro Bank, Nationwide, NatWest, Royal Bank of Scotland, Santander UK, Tesco Bank, The Co-operative Bank, TSB, and Yorkshire Bank.

The survey asked both personal and small business current account holders how likely they would be to recommend their provider to a friend, relative or other business. Questions also cover online and mobile provisions, branch and overdraft services, and for small businesses, the quality of the relationship management they receive.

The results of the independent survey are displayed in a league table style and, since its introduction in August 2018, providers have been required to prominently display them both in branch and on their websites and apps.

Adam Land, senior director at the CMA, said: “Current account holders and small businesses should consider voting with their feet and switching their bank or building society if they aren’t getting a good service. These league tables help show what’s out there for customers and hold the providers to account. There’s nowhere for the worst performers to hide now.”

Craig Donaldson, CEO of Metro Bank, said: “We are extremely proud to still hold the top spot for personal current account service and maintain our top two position among business customers. Service and convenience are at the heart of everything we do at Metro Bank and we’re thrilled that our customers can see this. Thank you to all our customers and colleagues for being part of the banking revolution.”

CMA Service Quality Survey results

Overall service quality

  1. Metro Bank
  2. First Direct
  3. Nationwide

Online and mobile banking services

  1. Barclays
  2. First Direct
  3. Metro Bank

Overdraft services

  1. First Direct
  2. Metro Bank
  3. Barclays

Services in branches

  1. Metro Bank
  2. Nationwide
  3. Lloyds Bank

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Investment scams on the rise as fraudsters switch tactics

Financial fraud in the UK is evolving with more people falling prey to dodgy investment schemes than older-style pension liberation...