UK’s best bank revealed – and it’s not a bank
The UK banking sector’s top bank has been crowned – and (spoiler) it’s not a bank.
A new report from Forbes and market research firm Statista analysed the global banking system for the world’s top names in the sector.
Over 54,000 people were surveyed across 34 countries in 17 different languages between October and November 2025.
To scout out the top name, those surveyed were asked to evaluate level of satisfaction with each bank they have a relationship as well as if they would recommend it to others.
Five key criteria underpinned the research including trusthworthiness, terms and conditions, customer service, digital services and quality of financial advice. Respondents were then asked to rank these categories on their priority.
These elements helped feed into a scoring system for each banks, with the points ranking the lenders in their home market.
Which banks rule the UK?
For the UK, Nationwide took the crown. The firm is the largest building society in the UK, famously not a bank but does operate in the same markets from mortgages and savings to current accounts and personal loans.
While Nationwide retains its mutual status – meaning it is owned by its members (customers) rather than shareholders – it has significantly expanded its reach to take on the high-street banks.
This was cemented with its blockbuster £2.9bn takeover of Virgin Money – the bank founded by Sir Richard Branson – which allowed Nationwide to absorb a massive portfolio of retail banking assets and credit card customers.
The mutual has had continued success in picking up current account switchers, namely due to its joining sweeteners such as a £200 bonus that has lured customers in. Nationwide has also pledged to maintain its branch network until 2030, in a clear contrast to a number of the industry giant fleeing the high street.
Behind Nationwide and scoring second place was HSBC UK’s digital arm First Direct which boasts around 2m customers in the UK. Continuing the digital trend, fintech darling Monzo came in third. The neobank has around 15m customers in the UK across personal and business accounts.
Aldermore – the challenger bank owned by South African lender First Rand – missed out on a podium finish for the UK. The report comes shortly after First Rand laid out plans to bow out of the UK with the sale of Aldermore due to regulatory frustrations associated with the motor finance scandal.
Not one member of the traditional big four banks – Barclays, Natwest, HSBC and Lloyds – made the top ten. Barclays came the highest, narrowly making the list at 12th place.
Meanwhile, their digital counterparts dominated with Starling and Revolut picking up fifth and sixth place respectively.
In the US, San Francisco-based Sofi took home the top spot, with the country’s biggest lender JP Morgan snubbed from the top 72 that were ranked.