Starling Bank has nabbed the top spot in a new ranking of business banking services released by the Competition and Markets Authority (CMA).
The rest of the top five were, in order, Handelsbanken, Metro Bank, Santander, and Barclays and NatWest, who tied for fifth place in the list.
However, Monzo took the top spot in the personal banking category.
The bi-annual survey was conducted by BVA BDRC between June 2020 and July 2021 and surveyed 1,200 customers of each business banking provider.
The CMA’s rankings were based on factors such as overall service management, account management, online banking, and overdraft and loan services.
The competition watchdogs’ survey is compulsory for all relevant banks.
"Starling has shot straight into the top of the charts for business banking on its first time of being included in these tables,” said Helen Bierton, chief banking officer at Starling. “After just three years in business banking, we’re beating the incumbents and have a 6 per cent market share for UK SME banking.”
She added: “Customers love that it is so simple and quick it is to open an account and that there are no monthly fees.”
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