Which bank is best for service? Banks ranked by their customers

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Banks have to publish league tables showing whether their customers would recommend them. Which banks score well and which are rated badly by their customers? Find out how banks ranked by their customers compare.

What will the banks publish?

The financial watchdog, the FCA, and the competition watchdog, the CMA, are forcing the banks to publish information about how their customers rate them. Only the biggest banks have to publish the ratings information. However, most of the other banks must publish information on how and when you can contact them, how many complaints they’ve received and how often their services haven’t been available.

Under the new rule, banks will have to publish four sets of information:

  • What services are available, when they’re available and when helplines are open;
  • Contact numbers, links and/or email addresses;
  • How often the bank has had to report major failures and security incidents;
  • How many complaints they have received.

The banks have to publish this information on their websites in a consistent format. That’s so you can compare how one bank is doing with another.

Larger banks must also publish how likely customers would be to recommend them to friends or family.

How are the banks rated by their customers?

The Financial Conduct Authority commissioned research where a polling company asked banks’ customers how likely they were to recommend their bank. The information has to be published on banks’ own websites. I’ve checked a few of the big banks’ websites this morning and the information is on the home page of their websites (although you have to scroll down to see it!).

This is how banks are ranked, alongside the percentage of customers who would recommend their bank to friends and family:

Ranked 1st: First Direct – 85%

2nd: Metro Bank – 83%

3rd: Nationwide – 73%

4th: Coventry Building Society – 68%

Equal 5th: Santander – 64%

Equal 5th: Barclays – 64%

Equal 7th: Halifax – 61%

Equal 7th: Yorkshire Bank – 61%

Equal 9th: Lloyds – 60%

Equal 9th: NatWest – 60%

Equal 9th: TSB – 60%

12th: Bank of Scotland – 57%

Equal 13th: HSBC – 55%

Equal 13th: Co-operative Bank – 55%

Equal 15th: Clydesdale Bank – 49%

Equal 15th: RBS – 49%

Customers were asked about how likely they’d be to recommend their bank’s online and mobile banking to friends and family. These are the results:

1st: First Direct – 87%

2nd: Metro Bank – 81%

3rd: Barclays – 79%

Equal 4th: Halifax – 78%

Equal 4th: Nationwide – 78%

Equal 6th: Lloyds – 76%

Equal 6th: Santander – 76%

8th: Bank of Scotland – 75%

9th: NatWest – 73%

Equal 10th: HSBC – 70%

Equal 10th: TSB – 70%

Equal 12th: Co-operative Bank – 67%

Equal 12th: Yorkshire Bank – 67%

14th: RBS – 65%

15th: Coventry Building Society – 64%

16th: Clydesdale Bank – 63%

How do banks rate for overdrafts?

Customers also ranked their bank for overdraft services. This is the percentage of customers who would recommend the banks’ overdraft services to friends and family.

Equal 1st: Metro Bank – 75%

Equal 1st: First Direct – 75%

3rd: Barclays – 63%

4th: HSBC – 60%

Equal 5th: TSB – 59%

Equal 5th: Nationwide – 59%

7th: Coventry Building Society – 57%

8th: Santander – 55%

9th: Lloyds – 54%

Equal 10th: Yorkshire Bank – 52%

Equal 10th: NatWest – 52%

Equal 10th: Co-operative Bank – 52%

13th: Bank of Scotland – 50%

14th: Halifax – 49%

15th: RBS – 47%

16th: Clydesdale Bank – 43%

How do banks rate for branch service?

If you like to use your local bank branch (assuming there is one nearby), it’s worth knowing how the banks rate for branch service. Here’s what the big banks’ own customers are saying:

Ranked 1st: Metro Bank – 84%

2nd: Coventry Building Society – 79%

3rd: Nationwide – 77%

4th: TSB – 74%

5th: Santander – 71%

Equal 6th: Bank of Scotland – 67%

Equal 6th: Halifax – 67%

Equal 6th: Lloyds – 67%

Equal 9th: Barclays – 64%

Equal 9th: Co-operative Bank – 64%

11th: HSBC – 63%

Equal 12th: Yorkshire Bank – 62%

Equal 12th: NatWest – 62%

14th: RBS – 59%

15th: Clydesdale Bank – 55%

First Direct isn’t on the list because it doesn’t have any branches.

You can see a summary of all the tables via this link. You can also download it as a PDF.

Information about service levels and complaints

Information about the banks’ IT and service failures, levels of complaints and contact information must be displayed on the banks’ websites.

Here are links to the relevant sections of the banks’ websites, together with a summary of complaints and service information. The complaint figures I’ve included are for the six months from July to December 2017. The complaints are about banking and bank services, not other things like PPI.

Barclays service information

Complaints: It received 6.51 complaints per 1,000 accounts about banking and credit cards. 51% of these complaints were upheld.

Service or security incidents: It’s reported 18 service failures or major security incidents in the last three months. Three of these have affected internet banking.

Clydesdale Bank service information

Complaints: It received 4.7 complaints per 1,000 accounts about banking and credit cards. 61% of these complaints were upheld.

Service or security incidents: It’s reported no service failures or major security incidents in the last three months.

The Co-operative Bank service information 

Complaints: It received 3.1 complaints per 1,000 accounts about banking and credit cards. 59% of these complaints were upheld.

Service or security incidents: It’s reported two failures in the last three months. One affected internet banking.

First Direct service information 

First Direct doesn’t publish its complaints data. Instead it’s combined with HSBC’s complaints figures and service levels.

Complaints: HSBC received 6.9 complaints per 1,000 accounts about banking and credit cards. 54% of these complaints were upheld.

Service or security incidents (these are for HSBC Bank brands including First Direct): It’s reported seven failures in the last three months. Two affected internet banking and three affected mobile banking.

Halifax service information

Like First Direct, Halifax doesn’t publish its own complaints data. Instead it’s included in Lloyds Bank’s complaints data. Here are the figures for Lloyds Bank brands.

Complaints: It received 5.2 complaints per 1,000 accounts about banking and credit cards. 70% of these complaints were upheld.

Service or security incidents (these are for Halifax, not Lloyds Bank brands): It’s reported 19 failures in the last three months. 13 affected internet banking.

HSBC service information 

Complaints: It received 6.9 complaints per 1,000 accounts about banking and credit cards. 54% of these complaints were upheld.

Service or security incidents (these are for HSBC Bank brands including First Direct): It’s reported seven failures in the last three months. Two affected internet banking and three affected mobile banking.

M&S Bank service information

Complaints: It received 4.62 complaints per 1,000 accounts about banking and credit cards. 46% of these complaints were upheld.

Service or security incidents: It’s reported three failures in the last three months. Two affected internet banking.

Metro Bank service information

Complaints: It received 4.18 complaints per 1,000 accounts about banking and credit cards. 49% of these complaints were upheld.

Service or security incidents: It’s reported no failures in the last three months.

Nationwide Building Society service information

Complaints: It received 1.44 complaints per 1,000 accounts about banking and credit cards. 47% of these complaints were upheld.

Service or security incidents: It’s reported two failures in the last three months. One affected internet banking.

NatWest service information

With NatWest, when you click on the link, a PDF with the information automatically downloads.

Complaints: It received 5.5 complaints per 1,000 accounts about banking and credit cards. 59% of these complaints were upheld.

Service or security incidents: It’s reported 11 failures in the last three months. Four affected internet banking.

Santander service information

Complaints: It received 5.3 complaints per 1,000 accounts about banking and credit cards. 44% of these complaints were upheld.

Service or security incidents: It’s reported four failures in the last three months. Three affected internet banking.

TSB service information

Complaints: It received 4.3 complaints per 1,000 accounts about banking and credit cards. 57% of these complaints were upheld.

Service or security incidents: It’s reported seven failures in the last three months. One affected internet banking.

Yorkshire Bank service information

Complaints: It received 4.7 complaints per 1,000 accounts about banking and credit cards. 61% of these complaints were upheld.

Service or security incidents: It’s reported no failures in the last three months. One affected internet banking.

Photo by Expect Best from Pexels

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