Independent service quality survey results

Business current accounts

Published August 2022

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 15 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs*). The results represent the view of customers who took part in the survey.

Overall service quality

We asked customers how likely they would be to recommend their business current account provider to other SMEs.

Ranking

Independent overall service quality survey results for 1st place Starling Bank 83%
Independent overall service quality survey results for 2nd place Monzo 79%
Independent overall service quality survey results for 3rd place Handelsbanken 73%
Independent overall service quality survey results for 4th place Tide 68%
Independent overall service quality survey results for 5th place Metro Bank 64%
Independent overall service quality survey results for 7th place Lloyds Bank 58%

Online and mobile banking services

We asked customers how likely they would be to recommend their provider’s online and mobile banking services to other SMEs.

Ranking

Independent online and mobile banking service survey results for 1st place Starling Bank 87%
Independent online and mobile banking service survey results for 2nd place Monzo 84%
Independent online and mobile banking service survey results for 3rd place Tide 75%
Independent online and mobile banking service survey results for 4th equal place Barclays 68%
Independent online and mobile banking service survey results for 4th equal place Natwest 68%
Independent online and mobile banking service survey results for 6th equal place Lloyds Bank 66%

SME overdraft and loan services

We asked customers how likely they would be to recommend their provider’s SME overdraft and loan services to other SMEs.

Ranking

Independent SME overdraft and loan service survey results for 1st place Handelsbanken 72%
Independent SME overdraft and loan service survey results for 2nd equal place Royal Bank of Scotland 58%
Independent SME overdraft and loan service survey results for 2nd equal place Santander 58%
Independent SME overdraft and loan service survey results for 4th equal place Lloyds Bank 57%
Independent SME overdraft and loan service survey results for 4th equal place Natwest 57%

Relationship/account management

We asked customers how likely they would be to recommend their provider’s relationship/account management to other SMEs.

Ranking

Independent relationship/account management survey results for 1st place Handelsbanken 83%
Independent relationship/account management survey results for 2nd place Monzo 81%
Independent relationship/account management survey results for 3rd place Starling Bank 74%
Independent relationship/account management survey results for 4th place Tide 66%
Independent relationship/account management survey results for 5th place Metro Bank 62%
Independent relationship/account management survey results for 7th place Lloyds Bank 58%

Service in branches and business centres

We asked customers how likely they would be to recommend their provider’s branch and business centre services to other SMEs.

Ranking

Independent service in branches and business centres survey results for 1st place Metro Bank 71%
Independent service in branches and business centres survey results for 2nd place Handelsbanken 65%
Independent service in branches and business centres survey results for 3rd place Bank of Scotland 57%
Independent service in branches and business centres survey results for 4th place Lloyds Bank 54%
Independent service in branches and business centres survey results for 5th place Santander 53%

These results are from an independent survey carried out between July 2021 and June 2022 by BVA BDRC as part of a regulatory requirement.

Lloyds Bank has published this information at the request of the Competition and Markets Authority so you can compare the quality of service from business current account providers. In providing this information, we are not giving you any advice or making any recommendation to you and we can only give you information about our own products and services.

SME customers with business current accounts were asked how likely they would be to recommend their provider, their provider’s online and mobile banking services, services in branches and business centres, SME overdraft and loan services and relationship/account management services to other SMEs.

The results show the proportion of customers of each provider, among those who took part in the survey, who said they were ‘extremely likely’ or ‘very likely’ to recommend each service.

Participating providers: Bank of Scotland, Barclays, Handelsbanken, HSBC UK, Lloyds Bank, Metro Bank, Monzo, NatWest, Royal Bank of Scotland, Santander, Starling Bank, The Co-operative Bank, Tide, TSB, Virgin Money.

Approximately 1,200 customers a year are surveyed across Great Britain for each provider; results are only published where at least 100 customers have provided an eligible score for that service in the survey period.

18,001 people were surveyed in total.

Results are updated every six months, in August and February.

*SMEs include businesses, clubs, charities and societies with an annual turnover/income of up to £25m (exclusive of VAT and other turnover-related taxes).

To find out more visit BVA-BDRC.com/business-banking-service-quality

Important Legal Information

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.