Which? has unveiled its top current account providers and encouraged millions of customers to consider switching. The consumer rights organization assessed various product features, fees, overdrafts, charges, and benefits in its recent survey, engaging with over 6,600 customers to gauge their satisfaction levels with their existing accounts.
Six providers were granted Which? Recommended Provider (WRP) status, including Chase, Danske Bank, First Direct, Monzo, Nationwide, and Starling. Starling emerged as the leader with an impressive customer score of 86% and secured its seventh WRP badge. The bank received a perfect five-star rating for both online and mobile banking and four stars for customer service.
Monzo attained an 85% customer score, earning five stars for mobile banking convenience and four stars for overall customer service. First Direct achieved an 84% customer score and retained its position as the longest-standing current account WRP for over a decade.
Additionally, Nationwide, also scoring 84%, garnered four stars for in-branch service and five stars for online banking. Chase, a digital bank under JPMorgan’s ownership, received an 82% customer score, excelling with five stars for its mobile app and four stars across categories such as customer service and ease of applying.
Danske Bank achieved an 80% customer score, with predominantly four-star ratings, particularly in overall customer service and online banking. Allied Irish Bank narrowly missed WRP status despite an 85% customer score. Revolut, scoring 83%, did not secure WRP recognition due to its status as an e-money provider in the UK, excluding coverage under the Financial Services Compensation Scheme.
Although numerous banks have introduced new current accounts in recent years, a Which? survey of over 6,600 current 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, receiving two stars in areas like customer service and telephone banking but achieving four stars for online and mobile banking.
Virgin Money, Santander, and Halifax closely followed TSB with a 71% customer score. Deputy Editor of Which? Money, Sam Richardson, highlighted the varying benefits offered by banks and emphasized the potential savings and advantages of switching to a Which? Recommended Provider for better perks and services.
Representatives from TSB and Virgin Money emphasized their commitment to customer service and continuous improvement in digital and branch services. The Mirror sought comments from Santander and Halifax regarding the rankings.