Smaller banks outstrips big rivals in customer satisfaction

Smaller banks like Smile, First Direct and the One Account scored higher ratings than big banks such as taxpayer-backed Bank of Scotland in a consumer satisfaction survey carried out by Which?.

First Direct grabbed the top spot in the list of banks that keep their customers happy. It scored overall 82 per cent in customer satisfaction for current accounts, savings and mortgages.

First Direct was closely followed by the One Account, which scored 81 per cent in customer satisfaction. Smile became third with 79 per cent.

Services being provided by bigger banks including Bank of Scotland, Santander and Halifax were voted as the worst by their customers.

Bank of Scotland received an overall satisfaction of mere 43 per cent in the customer satisfaction survey, while Halifax could do only slightly better than bank of Scotland with 46 per cent score.

Santander was voted the worst savings provider with scores of only 39 per cent.

Speaking on the findings, Which?’s chief executive Peter Vicary-Smith said, “Time and again, the big high street banks are found to be lacking when it comes to good customer service.”

He added suggested that unhappy customers should move to a better financial provider.