Handelsbanken has been voted the best business bank for overall service quality in the latest instalment of the Competition and Markets Authority (CMA) Banking Survey.
The research, which measures the quality of service delivered by both retail and business banks, was carried out between July 2019 and June 2020.
Over the course of the study, 1,200 small and medium-sized enterprise (SME) customers 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.
According to the findings, Swedish bank Handelsbanken delivered the highest overall service quality, with 79 per cent of SMEs recommending their services to other businesses. It was followed by Metro Bank (67 per cent), Santander (63 per cent) and Barclays (59 per cent).
Handelsbanken was also awarded best SME overdraft and loan services, best relationship/account management, and best service in branches and business centres.
Barclays, meanwhile, was voted best online and mobile banking service, with their services recommended by 73 per cent of customers.
In personal banking categories, Challenger bank Monzo won best overall service quality, with 86 per cent of customers recommending their service to friends and family.
Commenting on the results, Adam Land, Senior Director at the CMA, said: “These league tables are an invaluable resource for customers to find the best service on offer to suit their needs. By being able to access data on the best and worst performing banks and building societies, people can easily compare providers, driving more competition to improve the overall quality of service.
“These results only cover the initial impact of the Coronavirus (COVID-19) outbreak. Future surveys will better highlight how customer satisfaction has been influenced by the pandemic.”
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