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Metro Bank wins top spot in CMA banking survey

Emma Lunn
Written By:
Emma Lunn
Posted:
Updated:
15/08/2019

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