I aguess because Starling has a bit more of a grown up / traditional image they end up attracting more people switching their main account, even if Monzo attracts more users overall
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I donāt recall seeing discussion of this, but apologies if itās a duplicate.
Q1 2023 stats came out a while back. First net loss I can recall for Monzo;
Brand Gains Losses Net Gains
AIB Group (UK) p.l.c. 14 1,079 -1,065
Bank Of Ireland 61 502 -441
Bank of Scotland 1,848 6,118 -4,270
Barclays 6,877 29,822 -22,945
Co-operative 3,310 8,414 -5,104
Danske 222 737 -515
Halifax 25,564 45,851 -20,287
HSBC 59,569 61,087 -1,518
Lloyds Bank 35,046 35,449 -403
Monzo Bank Limited 9,406 11,485 -2,079
Nationwide 146,676 34,735 111,941
NatWest 37,421 31,775 5,646
RBS 5,083 9,601 -4,518
Santander 12,951 47,997 -35,046
Starling Bank Ltd 10,476 8,666 1,810
Triodos Bank 440 289 151
TSB 8,854 18,496 -9,642
Ulster Bank 447 1,144 -697
Virgin Money 3,335 10,809 -7,474
Low Volume Customers 449 1,458 -1,009
Interesting, Nationwide light years ahead of the competition there
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Look at Nationwide go!
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Santander getting destroyed there; and also interesting to see the NatWest vs RBS difference. Wonder if itās got anything to do with branch closures and people thinking they need to move to NatWest?
Also good to see that despite the massive incentives nobody wants to touch the perfectly sane operation knows as Co-Op.
And I wonder what Nationwide are doing rightā¦
I think that Nationwide number is either a catch up, a correction, or reclassifying some data.
I donāt believe they can have that much of a swing for just a run-of-the-mill bank. They had a switching offer, but so did many others, and some are negative despite switching offers!
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Could be.
Additionally I have noticed a lot more advertising for Nationwide than for any other bank. Either their advertising is particularly good at targeting me, or they are spending more (or more effectively) than other banks.
Yes, Santander have had switching offers and theyāre the biggest loser. I can only think that these numbers are skewed by the rising number of serial switchers. They switch for the bonus/bribe but they donāt hang around long and soon switch again for another bonus. This makes it impossible to tell how many people think their new bank is better than their old bank for the facilities on offer, or the customer service etc.
I can believe it - their switching offer had almost no terms associated with it - you had to switch, deposit Ā£1,500 and log into mobile banking twiceā¦ i know i did it for the Ā£200 
(Although I never actually got the Ā£200 because I got stuck in a loop where i didnāt know my account number and i didnāt know my āonline pinā so couldnāt log in without going into a branch - so I gave up)
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That happened to me with the Santander one. Aside from them and co op I got all the others.
I actually still canāt access my Santander account so Iāve no clue how much money is still left sat in it. Just waiting for something decent to switch it away to.
Surprised me too, but here we are
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Nationwide 
Lloyds and Halifax switching offers are easy to get too. Iāve switched to Lloyds twice and Halifax once, and Iāve never needed any direct debts etc., But Lloyds and Halifax donāt show the same impressive stats as Nationwide.
Barclays. Ouch.
Edit: OK I just saw Santander!
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These latest figures just seem weird to me. Really high values that donāt immediately seem to be intuitively right, and which I donāt think correlate with switching incentives.
But yeah assuming theyāre correct (and they come from the authoritative source so they must be) there are some big ouches in there!
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Q2 2023 results are out.
losses for Monzo again, and more of them this time.
Nationwide had a massive swing the opposite way too. Not sure whatās going on with them.
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Given the massive gains of NatWest Group banks Iād say itās the switching incentives muddying the waters
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Iāve had a shuffty around at the top and started to add in the missing data, and Iāve reversed the table so that most recent data is next to the bank name, and most easily accessible.
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