Which? has identified the top current account providers and encouraged numerous customers to consider changing their accounts. The consumer rights organization evaluated various aspects such as fees, overdrafts, charges, and benefits in its recent survey, which involved over 6,600 participants to gauge their satisfaction levels with their existing accounts.
Six providers earned the prestigious Which? Recommended Provider (WRP) status, including Chase, Danske Bank, First Direct, Monzo, Nationwide, and Starling. Starling emerged as the frontrunner with an impressive customer score of 86% and secured its seventh WRP badge. It received a full five-star rating for both online and mobile banking, along with four stars for customer service.
Monzo achieved an 85% customer score and was awarded five stars for the convenience of its mobile banking and four stars for overall customer service. First Direct garnered an 84% customer score and holds the title of the longest-standing current account WRP, maintaining the award for over a decade.
Nationwide also scored 84%, receiving a four-star rating for in-branch service and five stars for online banking. Additionally, Chase, a digital bank under JPMorgan, obtained 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 achieved an 80% customer score, largely receiving four-star ratings, notably for overall customer service and online banking. Allied Irish Bank narrowly missed the WRP status despite an 85% customer score, while Revolut, scoring 83%, did not qualify due to its operation as an e-money provider in the UK, leaving customers uncovered by the Financial Services Compensation Scheme.
A recent survey by Which? involving over 6,600 current account holders revealed that nearly 37% have remained loyal to the same provider for over two decades despite several banks introducing new current accounts in recent years. TSB ranked at the bottom with a 67% customer score, receiving lower ratings in categories like customer service and telephone banking but achieving four stars for online and mobile banking.
Virgin Money, Santander, and Halifax closely followed TSB with a 71% customer score. Sam Richardson, Deputy Editor of Which? Money, emphasized the importance of switching accounts to benefit from perks like fee-free spending abroad and lucrative bonuses, urging customers to consider the offerings from Which? Recommended Providers for better service.
Representatives from TSB highlighted their commitment to customer service and comprehensive banking services, while Virgin Money emphasized their efforts to enhance customer services through increased staffing and extended branch hours. The Mirror reached out to Santander and Halifax for comment on the rankings.