Monzo tops CMA banking satisfaction rankings as digital rivals outperform traditional banks

Challenger banks lead the way in the latest Competition and Markets Authority (CMA) banking satisfaction survey, with Monzo taking the top spot for both personal and business accounts across Great Britain and Northern Ireland.

Challenger banks have once again outshone their traditional rivals in customer satisfaction, according to the 14th edition of the CMA’s retail banking league table.

Monzo emerged as the highest-rated personal current account provider in both Great Britain and Northern Ireland, as well as leading the business account rankings for Great Britain.

Newcomer Mettle — an online business banking service from NatWest — made an impressive debut, securing second place for business accounts in Great Britain.

The results, published annually as part of the CMA’s Retail Banking Order, are based on independent surveys conducted by Ipsos and BVA-BDRC. Customers rated their banks across a range of services including online and mobile banking, overdraft facilities, in-branch experiences, and — for business accounts — the quality of account manager support.

Key Results: July 2024 – June 2025

• Northern Ireland: PERSONAL Current Account Providers (out of 12) – overall service quality

• How likely they would be to recommend their provider's online and mobile banking services to friends and family.

• Northern Ireland: BUSINESS Current Account Providers (out of 5)

• Great Britain: Personal Current Account Providers (out of 17)

• Great Britain: Business Current Account Providers (out of 17)

Daniel Turnbull, Senior Director of Markets at the CMA, said:

“This data puts power into customers’ hands. Whether it’s for a personal or business account, people can see how their bank fares against others – and stay or switch, according to their needs. It also puts pressure on banks to listen to feedback and think about whether the services they provide are really working for customers.”

Under CMA rules, banks and building societies must display the survey results clearly online and in branch, ensuring customers can make informed decisions about whether to remain with their provider or seek better service elsewhere.

The CMA says the survey is designed not only to help consumers and businesses get better value but also to push banks to improve performance in areas where customers feel let down.