Independent service quality survey results

Business current accounts

Published February 2023

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 equal 1st place Monzo 82%
Independent overall service quality survey results for equal 1st place Starling Bank 82%
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 62%
Independent overall service quality survey results for 6th place Lloyds Bank 60%

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 86%
Independent online and mobile banking service survey results for 2nd place Monzo 85%
Independent online and mobile banking service survey results for 3rd place Tide 74%
Independent online and mobile banking service survey results for 4th place Lloyds Bank 69%
Independent online and mobile banking service survey results for equal 5th place Barclays 67%

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 69%
Independent SME overdraft and loan service survey results for 2nd place NatWest 58%
Independent SME overdraft and loan service survey results for 3rd equal place Royal Bank of Scotland 57%
Independent SME overdraft and loan service survey results for 3rd equal place Lloyds Bank 57%
Independent SME overdraft and loan service survey results for 5th place Barclays 54%

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 81%
Independent relationship/account management survey results for 2nd place Monzo 77%
Independent relationship/account management survey results for 3rd place Starling Bank 71%
Independent relationship/account management survey results for 4th place Tide 67%
Independent relationship/account management survey results for 5th place Metro Bank 59%
Independent relationship/account management survey results for 6th place Lloyds Bank 56%

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 67%
Independent service in branches and business centres survey results for 2nd place Handelsbanken 64%
Independent service in branches and business centres survey results for equal 3rd place Bank of Scotland 55%
Independent service in branches and business centres survey results for equal 3rd place Lloyds Bank 55%
Independent service in branches and business centres survey results for 5th place NatWest 53%

These results are from an independent survey carried out between January 2022 and December 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

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