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Monzo reclaims top spot in banking league table

The challenger bank was ranked number one for personal and business by the CMA

Monzo table

Monzo has returned to the top spot of the banking customer satisfaction league table run by the Competition and Markets Authority (CMA), after being leapfrogged in February.

The biannual publication from the CMA ranks UK banks in order of customer satisfaction based on surveys conducted by the regulator.

Monzo over the past few years has dominated the league tables, but was briefly dethroned by Chase UK in the last update.

It has, however, returned to the number one ranking for both personal and business account providers.

Chase UK and Starling were ranked joint second in the former category, while the silver medal for the latter went to this edition of the list’s only new entrant, Mettle, an account provider owned by NatWest that targets the self-employed. Starling was ranked third for business accounts.

“The love our customers have for Monzo is unmatched – and being consistently voted the UK’s most recommended provider is the biggest compliment we could ask for,” said Karen Tiltman, general manager of UK operations at Monzo.

“Topping these tables is also a recognition of the hard work and dedication of everyone at Monzo – we are here to keep raising the bar, redefining what banking can be and bringing our customers even more industry-first features and products that change their financial lives.”

The challenger bank recently surpassed 13 million customers.

At the bottom of the list for personal account providers was the Co-operative Bank in 15th, Virgin Money in 16th and Royal Bank of Scotland in last place.

For business accounts, Barclays, HSBC UK and Bank of Scotland were jointly ranked as second from the bottom, while the Co-operative Bank was last.

Read more: Monzo fined £21m for inadequate financial crime controls

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