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15.08.2024 | 🇬🇧 UK competition authority
The CMA has released the results of the latest banking satisfaction survey, which includes a league table showing how personal and business current account holders rated their banking experience. This survey is part of the Retail Banking Order and follows the CMA's market investigation into retail banking in 2016.
The survey covers a broad range of banking services such as online and mobile banking, overdrafts, and in-branch experiences. It also assesses the quality of relationships between small business customers and their account managers.
New entrants in this year's survey include Chase for personal current accounts and Zemplar Bank for business current accounts in Great Britain.
The top-ranked personal current account providers in Great Britain are Monzo, Starling Bank, and Chase, while the lowest-ranked include The Co-operative Bank, Virgin Money, and Royal Bank of Scotland. In Northern Ireland, Monzo, Starling Bank, and Nationwide are the top-ranked personal account providers.
The CMA emphasizes the importance of banks listening to their customers to improve services and enhance competition. The survey results are meant to provide transparency for customers to make informed choices about their banking providers.
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