More than 17,000 users of personal current accounts participated in the survey, with JP Morgan Chase—which just made its UK debut three years ago—coming in third and Starling Bank in second position.
In its sixth year, the Competition and Markets Authority (CMA), a regulator, arranged the poll, which asked account holders to rank the level of service quality for internet banking, overdraft policies, and their “in-branch” encounters.
The NatWest Group-owned Royal Bank of Scotland came in 17th position, bottom of the list.
Virgin Money came in 16th place and the Co-operative Bank came in 15th place in the study, which was conducted between July 2023 and June 2024. Both companies did poorly.
In terms of consumer referrals to friends and family, the watchdog discovered that digital banks with no physical branch network, like Monzo, Starling, and Chase, performed better than traditional lenders.
Monzo topped the list in another CMA poll of over 19,000 business current account holders, with HSBC coming in last.
