Which? executive director, Richard Lloyd, said:
“TSB needs to challenge the dominance of the big six banks by offering customers genuinely competitive products and services. Current account switching rates remain depressingly low and the market is crying out for a fresh approach, so any takeover must not lead to a reduction in innovation and competition in the UK banking market, or hit customer service levels.”
Satisfaction scores from the Spanish consumers’ association, OCU, reveals the customer satisfaction score for Banco Sabadell in Spain is 62%. ING Direct has the highest score at 84%.