The 2015 uSwitch Current Account customer satisfaction awards were voted for by over 10,000 current account customers.
The big winner was First Direct, who won nine out of the twelve available categories. Clydesdale Bank, a new entrant to our awards, also made a strong impact, picking up the remaining three.
If First Direct and the Clydesdale are this year’s big winners, the big banks are the clear losers.
None of the so-called ‘Big Four’ – Lloyds, HSBC, RBS or Barclays – won a single award between them, nor did they come in the top-three for any awards.
RBS fared worst, winning the wooden spoon for ‘worst current account provider’ for the second year in a row.
HSBC did little better, falling eight places in the ‘Most Trusted’ category, while Barclays had the biggest drop in the ‘Overall Satisfaction’ category’.
However it was The Co-Operative Bank which fell the most overall, sliding in eight out of twelve categories including ‘Overall Satisfaction’ and ‘Value for Money’.
First Direct - the online and phone-based bank - were only denied a full house by new entrant Clydesdale Bank, who made a big impact, especially considering it’s their first year in the awards.
The new bank won the prizes for its app and branch customer service, and topped the charts for its switching service.
Things are also looking up for the TSB and the Yorkshire Bank. Since their separation from Lloyds Banking Group, TSB are capitalising on their rejuvenated brand and drastically improved its scores for customer service, value for money and trust. They also went from eighth to fourth in the ‘Best Current Account’ category.
Yorkshire Bank meanwhile improved its scores for overall satisfaction, trust, customer service and value for money, as well asimproving its online service.
Satisfaction with rewards rocketed from 41% to 77% year-on-year, and value for money is also improving – up to 75% from 71% last year. Satisfaction with in-house switching teams is also on the up.