UK Web banking continues to improve

UK Web banking continues to improve

Online banking customers in the UK rate their banks more highly than they did a year ago, according to the latest research from the Virtual Surveys' Online Banking Survey (V-OBS).

The research surveyed 5238 online banking customers between April and June 2003. Results show that 65% of customers overall rated their online bank as excellent or very good, compared to 58% at the same time last year.

Virtual Surveys says the higher levels of customer satisfaction are due to improvement in speed and usability of online banking sites, as well as the increase in the range of products and services offered. In particular, respondents rated online money transfer, direct debit and standing order functions more highly than at the same period last year.

Smile and First Direct topped the table for customer satisfaction, followed by Co-operative Bank, Royal Band of Scotland and Nationwide. Egg, Alliance & Leicester and NatWest were less highly rated, although Quentin Ashby, director at Virtual Surveys, says these online banks are showing signs of improved performance.

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