Independent service quality survey results

Business current accounts

 

Published February 2019

 

As part of a regulatory requirement, an independent survey was conducted to ask customers of the 5 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs*).

Overall service quality

We asked customers how likely they would be to recommend their business current account provider to other SMEs.                           

 

Ranking

1 Santander UK 67%, 2 Danske Bank 61%, 3 Ulster Bank 51%, 4 Bank of Ireland UK 50%, 5 First Trust Bank 49%

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

1 Santander UK 76%, 2 Danske Bank 73%, 3 Ulster Bank 67%, 4 First Trust Bank 60%, 5 Bank of Ireland UK 50%

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

1 Santander UK 62%, 2 Danske Bank 60%, 3 Bank of Ireland UK 56%, 4 Ulster Bank 51%, 5 First Trust Bank 46%

Relationship/account management 

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

 

Ranking

1 Danske Bank 66%, 2 Santander UK 64%, 3 Ulster Bank 54%, 4 Bank of Ireland UK 49%, 5 Bank of Ireland 47%

Services 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

1 Santander 63%, 2 Danske Bank 61%, 3 Ulster Bank 53%, 4 Bank of Ireland 51%, 5 First Trust Bank 43%

These results are from an independent survey carried out between January 2018 and December 2018 by BVA BDRC as part of a regulatory requirement.

 

First Trust Bank have 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 who said they were ‘extremely likely’ or ‘very likely’ to recommend each service.

 

Participating providers: Bank of Ireland UK, Danske Bank, First Trust Bank, Santander UK, Ulster Bank.

 

Approximately 700 customers a year are surveyed across Northern Ireland and the Republic of Ireland for each provider; results are only published where at least 100 customers have provided an eligible score for that service in the survey period.

 

3,510 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).

 

To find out more visit www.bva-bdrc.com/products/business-banking-service-quality

 

 

 

Information about current account services

The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here, and for personal current accounts here.

 

Supporting the needs of all our customers

Information on the key ways we support the needs of all personal current account customers can be found here.