Which? has unveiled its top current account providers and is encouraging millions of customers to consider switching. The consumer rights organization assessed various aspects such as fees, overdrafts, charges, and benefits for its latest survey. Additionally, they engaged with over 6,600 customers to gauge their satisfaction levels with their current accounts.
Six providers, including Chase, Danske Bank, First Direct, Monzo, Nationwide, and Starling, received Which? Recommended Provider (WRP) status. Starling secured the top position with a customer satisfaction score of 86% and attained its seventh WRP badge. It received a full five-star rating for both online and mobile banking, and four stars for customer service.
Monzo achieved an 85% customer score, with five stars for mobile banking ease and four stars for overall customer service. First Direct garnered an 84% customer score and holds the title of the longest-running current account WRP for over a decade.
Nationwide also scored 84%, receiving four stars for in-branch service and five stars for online banking. Chase, the digital bank under JPMorgan, achieved an 82% customer score, with top ratings for its mobile app and four stars across categories like customer service and ease of applying.
Danske Bank obtained an 80% customer score, with mostly four-star ratings, particularly in overall customer service and online banking. While Allied Irish Bank had an 85% customer score, it narrowly missed WRP status. Revolut, scoring 83%, was not named a WRP due to its status as an e-money provider in the UK.
Despite new current accounts being introduced, a recent Which? survey of over 6,600 account holders revealed that nearly 37% have remained loyal to the same provider for over two decades. TSB ranked lowest with a 67% customer score, while Virgin Money, Santander, and Halifax tied at 71%.
Sam Richardson, Deputy Editor of Which? Money, emphasized the importance of switching to better-suited providers, highlighting the diverse perks available such as fee-free spending abroad and cashback offers. Richardson urged long-term loyal customers to consider making the switch to a Which? Recommended Provider for improved services.
Representatives from TSB and Virgin Money expressed their commitment to enhancing customer service, with Virgin Money detailing significant efforts to bolster their services. Santander and Halifax were approached for comment by the Mirror.