Best High Street Banks

Best High Street Banks in the UK - Who Are You Going to Trust with Your Hard Earned Cash?

Looking for a Bank That Can Keep Your Money Safe & Be Helpful Whilst Doing It? Discover the Best High Street Bank by Customer Service In 2022.

Best High Street Banks

Best High Street Banks

Best High Street Banks

Best High Street Banks in the UK – Who Are You Going to Trust with Your Hard Earned Cash?
Looking for a Bank That Can Keep Your Money Safe & Be Helpful Whilst Doing It? Discover the Best High Street Bank by Customer Service In 2022.
TABLE OF CONTENTS

Best High Street Banks


Don’t make the mistake of entrusting the wrong bank with your money. A negative choice can be expensive, and you could stand to lose your hard-earned cash.

Don’t fall into that trap. 

The UK has the 4th largest banking industry in the world. With over 350 banks, it’s no surprise you don’t know which to choose.

Fortunately, we’re here to help.

In this article, you’ll discover:

  • Who are the “Big 4” banks in the UK?
  • Which banks provide the best service quality?
  • Which are the best banks for customer satisfaction?

Our qualified team of researchers uncovers the most up-to-date and accurate information in the financial world. 

We aim to provide you with the confidence and knowledge to make the best financial decisions for your future.

Find out more! 

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Who Are the “Big 4” High Street Banks in the UK?

The “Big 4” banks in the UK are Barclays, HSBC, Lloyds Banking Group, and Natwest Group. 

The term “Big 41“ is used across the global banking industry to identify the top banks in each country based on varying factors. 

Let’s look into the UK’s “Big 4”.

Barclays

With more than 48 million customers in over 50 countries, it’s easy to see why Barclays is one of the “Big 4” high street banks in the UK. 

Started by Quakers2 and based in London, this multinational bank offers a broad range of operations. 

These include: 

  • Investment banking
  • Retail and wholesale banking
  • Wealth management
  • Credit cards 
  • Mortgage lending

HSBC

HSBC is the largest bank in Europe and the UK and the 6th largest globally. 

With headquarters in London, it’s also a multinational banking and financial service provider. 

Holding 12% of the market share, HSBC continues to provide the best customer service out of the Top 4 banks. 

Their telephone banking sector, First Direct, has won several awards for their products and excellent customer service. 

Lloyds Banking Group

Lloyds Bank opened in Birmingham over 250 years ago. 

Bank of Scotland, Lloyds Bank, Halifax, and Scottish Widows now all fall under the Lloyds Banking Group umbrella. 

Being the first bank to offer student and graduate accounts, Lloyds has earned the reputation of a customer-friendly bank. 

It retains the loyalty of thousands of previous students who are now deep in their careers.

NatWest Group

The NatWest Group was known as The Royal Bank of Scotland Group until February 2020.

With branches across the UK, the Natwest Group includes the Royal Bank of Scotland, Natwest Bank, and Ulster Bank. 

The corporate structure of the Natwest group comprises 4 main franchises. 

These are

  • Retail Banking
  • Commercial Banking
  • Private Banking 
  • NatWest Markets

Best High Street Bank in the UK by Service Quality in  2022.

The best high street banks in the UK based on overall service quality include Metro Bank, Nationwide, and Lloyds Bank.

An independent survey conducted by Ipsos3 considered the quality of the personal service offered by the banks in Britain – both in-person and online. 

Here are the top 5 banks in each category. 

Service Quality

PositionBankScore
1Metro Bank75%
2Nationwide68%
3Lloyds Bank65%
4Barclays63%
5Bank of Scotland62%

Mobile Banking & Online Services

PositionBankScore
1Monzo90%
2Starling Bank84%
3First Direct81%
4Halifax78%
5Lloyds Bank75%

Overdraft Services

PositionBankScore
1First Direct69%
2Metro Bank67%
3Monzo64%
4Starling Bank61%
5Lloyds Bank60%

Service in Branches

PositionBankScore
1Metro Bank80%
2Nationwide77%
3Lloyds Bank75%
4Halifax73%
5Bank of Scotland67%

The 10 Best Banks for Customer Satisfaction

The 10 best banks based on customer service include Halifax, Starling’s and Natwest. 

A survey4 of over 2,000 current account customers in the UK determined how satisfied they were with their banks and, in particular, with their accounts. 

Based on the results, these are the top 10 banks in the UK. 

Position 1: Halifax

Customer Satisfaction Score: 90%

Halifax offers a range of accounts, from basic current accounts to reward accounts. 

Customers that took part in the survey praised the banking app and the quality of customer service. 

Position 2 – Starling’s 

Customer Satisfaction Score: 87%

Starling’s app functionality and features received much praise. Customers found the digital current account easy to use and manage. 

Position 3 – NatWest

Customer Satisfaction Score: 86%

The 2 main areas that received the most praise for NatWest were the customer service, and the mobile and online banking. 

Position 4: Lloyds Bank

Customer Satisfaction Score: 84%

Offering a wide range of current accounts and an expansive branch network, Lloyds bank comes in 4th. 

Position 5: Monzo

Customer Satisfaction Score: 84%

Digital contender Monzo offers app-based current accounts with impressive money management and savings features. 

Position 6: Nationwide

Customer Satisfaction Score: 83%

Nationwide offers a wide range of current accounts with great perks and incentives. 

Position 7: Santander

Customer Satisfaction Score: 83%

Offering a range of current accounts, Santander’s key selling point is the ability to earn cash back on bills. 

Position 8: Monese

Customer Satisfaction Score: 82%

Monese offers an efficient digital-only account suited to people who work or travel through different countries. 

Free ATM withdrawals and overseas purchases are attractive features. 

Position 9: Barclays

Customer Satisfaction Score: 81%

An efficient banking app and helpful customer service earned Barclays 9th place. 

Position 10: Revolut

Customer Satisfaction Score: 79%

The multi-currency account offered by Revolut allows you to exchange and keep up to 30 different currencies for free. 

Great for travelers or those wanting to send money abroad. 

Common Questions

Which UK High Street Bank Is the Best?

Which Is the Best High Street Bank for Small Business?

Which is the Best High Street Bank Savings Account?

Conclusion

You’ve seen our lists of the best high street banks, but now you need to sit down and think about what you need in a bank. 

Some high street banks have been around for years and have earned their reputation as solid, trustworthy banks purely because they are a household name. 

That doesn’t necessarily mean they’re right for you. 

Compare the banks you’re considering, compare the accounts they offer, and look at online reviews of their overall service. You’ll then be well on your way to finding the best fit for you.

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Editorial Note: This content has been independently collected by the EveryInvestor advisor team and is offered on a non-advised basis. EveryInvestor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.

Editorial Note: This content has been independently collected by the EveryInvestor advisor team and is offered on a non-advised basis. EveryInvestor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.