Monzo are rated the best bank in Britain

Yeah same. I guess after all it is an overall service survey, and not “Customer Service” - though it would be interesting to split out.

When I was with first direct - who always used to be top of these reports - the Customer Service was unparalleled - like never had to wait in a queue to get anything fixed.

But I’d probably score them lower than Monzo on the overall “offering”.

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Also I went and trended the data (I’m coming after your job Theo…)


(not my best chart ever, not enough colours, potentially misleading Y axis, dates formatted as text…)

Not sure if this survey ran before 2018, but…

Basically First Direct has been broadly static since the survey started.

Metro has had a bit of a decline since Monzo/Starling entered the League.

Nationwide are a static high scorer too.

Tesco and RBS have always been bottom of the pack.

The rest all kind of mill around in the middle

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Happy forumversary! :cake:

3 years on here, wow. You’re either got armour-plated skin or are a closet-masochist :grinning_face_with_smiling_eyes:

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Thanks both. Other experiences suggest my skin is not armour-plated

Those were fairly heady days and it was a brief rough spot for both this forum and me as emigres from both Starling and their forum as cultures collided

I was just looked at the state of my finances both before and after shifting main time to Monzo just after then, seeing as I have some history in Trends from HSBC earlier that year, and they are so much more controlled now and merchant data makes such a big difference

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Made me look at my start date.

Fast approaching four years :scream:

My how time flies when you’re having fun :joy:

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In fact, we share the same forumversary.

Mind blown.
iDW_mind_blown

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What the odds on that? :joy::rofl:

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I’ve never heard much about Metro Bank (mostly because there are no branches anywhere near me. I know you don’t need a branch to join, but about of people still like being near a branch) and I’ve always wondered what it does better compared with other physical branches?

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The big draw is 7 day opening and a more “fun” branch experience than traditional banks. Things like free lollies/sweets for kids, free dog biscuits and a bowl of water for dogs, specially commissioned artwork in the branch.

You don’t have to go into a branch to open an account now, although you did need to in the past.

They offer instant on-the-spot debit card printing and cheque book printing if you do open the account in a branch, or if you need a new card/chequebook for any reason.

Service is supposed to be better, too, with more of an American “service with a smile” kind of attitude.

Full disclosure: I have an account with them, opened online, but have not (yet) ever set foot in one of their branches.

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I do think Monzo, Starling, and First Direct all have a built-in advantage in this survey, although not sure I would say it’s related to marketing

They all probably have a high proportion of customers who have actively selected them for a very specific reason (the app in the case of Monzo & Starling, and phone support in the case of First Direct). Such customers are probably more likely to be enthusiastic recommenders than customers who just defaulted to their local bank.

Perhaps Metro Bank and Nationwide also benefit from this type of effect with sunday opening and building society being USPs within the list.

I think rating is hard to do with any confidence unless you have tried a wide range of banks. And most people haven’t.

The reason they went with ‘would you recommend’ is perhaps because anyone can provide a response to that based on their experience even if they’ve only ever used one bank.

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I agree with you on this completely, and was going to say something similar.

First Direct, especially, aren’t that amazing but always appear near or at the top due to this effect (if you ask me).

@N26throwaway’s comments about First Direct did make me laugh though, their customers are particularly effusive! Plus they do nearly always offer a switch bonus (opening an account with them when that is not running is like buying a sofa from DFS when there isn’t a sale on) so it sort-of is a pyramid scheme!

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Weirdly First Direct don’t have a switching offer on atm.

However I’ve just spotted Nationwide are offering £100, and £125 if you’re already a member (Not sure how that works)

  1. We will credit the payment to the current account that you switched into within 10 calendar days of the full switch completing.

Edit: yeah so to get £125 you would need to first click open a savings, wait until active and then click switch.

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Fun fact: I actually started out as a community forum member before getting a job at Monzo :slight_smile:

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:eyes:

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I have to say, I’m really surprised that First Direct haven’t fallen much more. The quality of their service has dropped significantly over the last three years as they try to do more online but it’s still very limited. Meanwhile they have cut back telephone support at a faster rate so that call waiting times have risen from an amazing average of about three rings to something more like about 20 minutes!

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There’s a lot to like about Monzo, but weak security is their biggest problem.

This is another sort of thing that has a huge impact on a survey.

If I haven’t had the need to call them in a few years, my expectation is that they still answer very quickly.

If you call on Weds and get answered quickly, then you call on Friday and are made to wait, then a survey drops, it won’t be a good review!

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How so?

That is generally not true. Only if First Direct can’t identify you electronically, which like most banks they can do in the vast majority of cases.

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