Mutual lenders offer the best current accounts for small firms, while challenger banks also competed well, reveals a survey published by the UK Federation of Small Businesses and the British Chambers of Commerce.
The poll points out that the biggest high banks slipped further down the league table, as reported by CityA.M.
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The business groups commissioned ICM to study 5,000 firms for their views on banks’ services, with sole traders making up the largest share of those questioned.
Firms can compare banks’ performance on transparency, customized services, value, availability, and keeping customers informed.
The results form part of a new website, which is currently funded by Royal Bank of Scotland (RBS) and covers 74 banking brands, according to CityA.M.
The portal seeks to assist small firms find the best bank to meet their capital requirements and is intended to spur to banks to compete harder for clients.
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By GlobalDataWith 10 or more reviews, Nationwide topped the list with a ranking of 75%, by scoring most highly on fairness and clarity of its products, and slightly less favourably on value.
The Co-op Bank stood at second position with a score of 75% based on similar areas of performance.
Halifax, a part of Lloyds Banking group, also scored 70% for its availability and on the information given to customers.
With a score of 41%, First Trust Bank became the worst performer with more than 10 ratings, scoring particularly poorly for value.
