'This data puts power into customers' hands': New Survey reveals Northern Ireland’s best and worst banks
Santander topped the Northern Ireland rankings for business accounts, ahead of Danske Bank and Ulster Bank in joint second
New research by the Competition and Markets Authority (CMA) into banking satisfaction has ranked banks providing both personal and business accounts in Northern Ireland.
The report includes a league table – the 14th of its kind – showing how personal and business current account holders rated the quality of their experience.
Introduced by the CMA as part of its Retail Banking Order, the banking satisfaction survey is an annual review conducted by independent research companies Ipsos and BVA-BDRC.
Santander topped the NI rankings for business accounts, ahead of Danske Bank and Ulster Bank in joint second.
Monzo was once again ranked as number one for consumers in both Great Britain and Northern Ireland, while traditional banks generally scored lower than their digital rivals.
There is one new entrant in this year's survey: Mettle, a new online business current account provider from NatWest for sole traders and companies of up to two owners.
Daniel Turnbull, senior director of markets at the CMA, said: "This data puts power into customers' hands. Whether it's for a personal or business account, people can see how their bank fares against others – and stay or switch, according to their needs.
"It also puts pressure on banks to listen to feedback and think about whether the services they provide are really working for customers."
The banks that ranked highest and lowest for overall service were:
Northern Ireland: Business current account providers (out of five) 1st Santander 2nd (joint) Danske Bank 2nd (joint) Ulster Bank 4th Bank of Ireland UK 5th Allied Irish Banks
Northern Ireland: Personal current account providers (out of 12) 1st Monzo 2nd Nationwide 3rd Starling Bank 10th Ulster Bank 11th Bank of Ireland UK 12th Allied Irish Banks