Monzo tops banking league table fourth time in a row

Monzo has once again been named the number one bank for customer satisfaction in the Competition and Markets Authority (CMA) league table.

The latest rankings, based on a survey conducted by the UK regulator, have put the challenger as the top personal and business bank account provider, beating out legacy competition.

Monzo has been ranked first by the CMA for personal accounts four times in a row now, first claiming the top spot in February 2023.

“To be voted by our customers as the UK’s top bank for overall service for personal and business accounts is not something we’ll ever take for granted,” said Monzo VP of operations Lyndsey Edgar.

“Topping these tables time and time again is recognition of the hard work and dedication of every employee at Monzo and something we’re incredibly proud of.”

In second place for both categories was fellow challenger bank Starling, which was ranked number one for business in February 2023.

New entrant Chase Bank took third place for personal account providers, while Royal Bank of Scotland and HSBC came in last for personal and business accounts respectively.

“This shows that consumers really appreciate banks that consistently put customers at the heart of their offering, and our pace of growth so far demonstrates that they are keen to do more of their banking with newer providers,” said Chase UK CEO Kuba Fast.

The results, published on Thursday, mark the thirteenth instalment of the biannual banking satisfaction survey in the seven years the CMA began the scheme.

The CMA first started publishing the tables in 2016 as part of the Retail Banking Order – a series of reforms in the CMA’s regulation of the industry.

Read more: ‘Consider yourselves challenged’: Monzo CEO takes aim at legacy banks