The news: In the UK’s Competition and Markets Authority’s Personal Banking Service Quality survey conducted by Ipsos, Chase UK outranked the UK’s incumbent banks—marking the fifth year in a row digital banks scored higher than traditional ones.
The rankings: Chase, Monzo, Starling, and First Direct—all digital banks—secured the top four spots. Among the traditional incumbents, Nationwide ranked the highest in fifth place, though it ranked first for branch service quality.
Eighty-one percent of customers would recommend Chase, up from 78% last year. Monzo followed closely, while HSBC ranked 12th at 57%, and Royal Bank of Scotland (RBS) was last at 46%.