Challenger banks continue to lead CMA satisfaction survey rankings

The Competition and Markets Authority (CMA) has published its latest set of banking satisfaction results, which show that the challenger banks continue to rank higher than their traditional counterparts.

Monzo is ranked number 1 for both personal and business accounts, with traditional banks general ranking lower than their digital rivals.

For personal current account providers in Great Britain, Monzo was followed by Chase and Starling Bank in joint second, with the Co-operative Bank, Virgin Money and RBS sat at the end of the 17 ranked institutions.

For business current account providers in Great Britain, Monzo was followed by new entrant Mettle – an online provider – , and then Starling Bank. Barclays, HSBC, Bank of Scotland and the Co-operative Bank ranked the lowest.