Independent service quality survey results

Business current accounts

Published August 2021

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 14 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

Starling Bank 89%
Handelsbanken 75%
Metro Bank 69%
Santander 63%
Barclays 60%
Lloyds Bank 57%

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

Starling Bank 89%
Barclays 75%
Metro Bank 73%
NatWest 72%
Lloyds Bank 70%

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

Starling Bank 84%
Metro Bank 70%
Handelsbanken 69%
Santander 68%
Bank of Scotland 62%
Lloyds Bank 56%

Relationship/account management

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

Ranking

Handelsbanken 84%
Starling Bank 80%
Metro Bank 66%
Santander 61%
Barclays 61%
Lloyds Bank 54%

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

Metro Bank 73%
Handelsbanken 67%
Lloyds Bank 59%
Santander 59%
Bank of Scotland 57%

These results are from an independent survey carried out between July 2020 and June 2021 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: Allied Irish Bank (GB), Bank of Scotland, Barclays, Clydesdale Bank**, Handelsbanken, HSBC UK, Lloyds Bank, Metro Bank, NatWest, Royal Bank of Scotland, Santander, Starling Bank, The Co-operative Bank, TSB, Virgin Money, Yorkshire Bank**.

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.

18,000 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).

**Interviews with customers of Clydesdale Bank and Yorkshire Bank are reported as Virgin Money.

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

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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.