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Independent service quality survey results

Business current accounts

Published August 2024

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 16 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs*). The results represent the view of customers who took part in the survey.

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Overall service quality

We asked customers how likely they would be to recommend their business current account provider to other SMEs.

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Online and mobile banking services

We asked customers how likely they would be to recommend their provider’s online and mobile banking services to other SMEs.

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Relationship/account management

We asked customers how likely they would be to recommend their provider’s relationship/account management to other SMEs.

SME overdraft and loan services

We asked customers how likely they would be to recommend their provider’s SME overdraft and loan services to other SMEs.

Tide offers credit (overdraft and loan) services to SME customers but the results for this service are not displayed as fewer than 100 Tide customers provided an eligible score.

Service in branches and business centres

We asked customers how likely they would be to recommend their provider’s branch and business centre services to other SMEs.

Tide does not operate a branch network.

These results are from an independent survey carried out between July 2023 and June 2024 by BVA BDRC as part of a regulatory requirement.

Tide has published this information at the request of the Competition and Markets Authority so you can compare the quality of service from business current account providers.

In providing this information, we are not giving you any advice or making any recommendation to you and we can only give you information about our own products and services.

SME customers with business current accounts were asked how likely they would be to recommend their provider, their provider’s online and mobile banking services, services in branches and business centres, SME overdraft and loan services and relationship/account management services to other SMEs.

The results show the proportion of customers of each provider, among those who took part in the survey, who said they were ‘extremely likely’ or ‘very likely’ to recommend each service.

Participating providers: Bank of Scotland, Barclays, Handelsbanken, HSBC UK, Lloyds Bank, Metro Bank, Monzo, NatWest, Royal Bank of Scotland, Santander, Starling Bank, The Co-operative Bank, Tide, TSB, Virgin Money, Zempler Bank**.

Approximately 1,200 customers a year are surveyed across Great Britain for each provider; results are only published where at least 100 customers have provided an eligible score for that service in the survey period.

19,200 people were surveyed in total.

Results are updated every six months, in August and February. *SMEs include businesses, clubs, charities and societies with an annual turnover/income of up to £25m (exclusive of VAT and other turnoverrelated taxes).

**Interviews with customers of Cashplus Bank are reported as Zempler Bank.

To find out more visit https://www.bva-bdrc.com/business-banking-service-quality-metrics/