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81% of Chase users reported they’d recommend their bank - slightly ahead of Monzo at 80% - in the latest Competition and Markets Authority (CMA)/Ipsos survey, which canvassed the opinions of 23,000 customers across Great Britain and Northern Ireland.
Launched in 2021, Chase has quickly carved out a leading position in customer satisfaction rankings alongside established digital banks, at the same time outpacing traditional high street current account providers.
Highlights from the survey
The survey is compulsory for large banks and building societies, and invites feedback from 1,000 customers in Britain and 500 customers in Northern Ireland for each provider.
Chase UK claimed top position, with an 81% recommendation rate
Monzo had consistently led in past surveys, but was now placed second with 80%
Starling Bank came in third, narrowly behind Monzo in overall satisfaction
Traditional banks such as RBS, HSBC, Lloyds, and NatWest continued to see low recommendation rates – often below 60%
Chase UK’s chief executive Kuba Fast, said: “Our focus at Chase is on providing our customers with an exceptional experience at every opportunity, so we’re delighted to be recognised by our customers for the quality of our service.”
What does the survey tell us about banking?
The rise of Chase UK suggests that established banks can still compete effectively if they invest in modern technology and customer-first rewards. At the same time, regulators remain cautious. Digital-only models are under growing scrutiny for financial crime protections and sustainability beyond initial consumer incentives.
Chase UK’s rapid ascent to the top spot in customer satisfaction reflects both its technological strengths and savvy marketing offers. Meanwhile, Monzo and Starling Bank remain strong contenders praised for user-centric features and innovation.
In the survey, Monzo was notably highly rated for its online/mobile banking, overdraft services and overall service quality. As digital banking continues to reshape the UK market, traditional banks lag behind, unable to match the speed or digital focus of their app-only competitors.