Which? has released its top current account providers and is advising millions of customers to consider switching. The consumer rights organization assessed various features like fees, overdrafts, charges, and benefits in its recent study. They also surveyed over 6,600 customers to gauge satisfaction levels with their existing accounts.
Six providers were recognized as Which? Recommended Providers (WRP), including Chase, Danske Bank, First Direct, Monzo, Nationwide, and Starling. Starling emerged as the leader with an 86% customer score, securing its seventh WRP badge. It received top ratings for online and mobile banking, along with four stars for customer service.
Monzo achieved an 85% customer score, earning five stars for mobile banking convenience and four stars for overall customer service. First Direct garnered an 84% customer score and has held the WRP title for over a decade.
Nationwide shared an 84% customer score with First Direct, excelling in online banking with a five-star rating. Chase, a digital bank under JPMorgan, achieved an 82% customer score, with top ratings for its mobile app and four stars in areas like customer service and ease of application.
Danske Bank received an 80% customer score, with consistent four-star ratings in categories such as overall customer service and online banking. Allied Irish Bank narrowly missed WRP status despite an 85% customer score. Revolut, scoring 83%, was not named a WRP due to its classification as an e-money provider in the UK.
A recent Which? survey revealed that 37% of current account holders have remained loyal to the same provider for over 20 years. TSB ranked lowest with a 67% customer score, while Virgin Money, Santander, and Halifax closely followed at 71%.
Commenting on the findings, Which? Money Deputy Editor Sam Richardson emphasized the importance of switching to better-performing banks to benefit from perks and improved services. Both TSB and Virgin Money expressed their commitment to enhancing customer service and digital offerings.
Santander and Halifax were approached for comment by Mirror but have not responded at this time.