Economy First Direct tops Britain’s first banking quality survey

First Direct tops Britain’s first banking quality survey

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Workers are seen in offices at Barclays and HSBC bank offices in the Canary Wharf financial district in London, Britain, November 17, 2017.

 First Direct, Metro Bank and Nationwide Building Society came top in Britain’s first mandatory sector-wide customer surveys to help people choose the best bank, the Competition and Markets Authority (CMA) said on Wednesday.A review of retail banking in August 2016 by the CMA ordered lenders to publish bi-annual measurements of how customers rate their services.An independent survey of banks’ customers conducted by GfK UK asked how willing they were to recommend their services to friends and family.

In the first survey published on Wednesday, 85 percent of customers at First Direct, HSBC’s telephone banking unit, said they would recommend their lender in terms of overall service quality.

Metro Bank and Nationwide Building Society came second and third with 83 percent and 73 percent, respectively.

The “Big Four”, Barclays, HSBC, Lloyds and Royal Bank of Scotland, whose branches have long dominated Britain’s high streets, scored lower.

Barclays came joint fifth with Santander UK, with 64 percent of its customers recommending the bank. Lloyds was joint ninth with Natwest, an RBS unit, and TSB.

HSBC was joint 13th at 55 percent with the Co-operative bank, while RBS came joint last with Clydesdale Bank in 15th place, with 49 percent of customers recommending the two lenders.

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