Handelsbanken has been voted the clear winner when it comes to what SMEs think is the best business bank account.
The Swedish bank, which has more than 200 UK branches, came top of the leader board in three out of five categories, according to the latest Competition and Markets Authority survey published in February 2026.
The bank was named best for relationship/account management (85%); SME overdraft and loan services (72%); and services in branches and business centres (72%) for the fifth time by the survey.
However, Monzo beat it to the top spot for overall service quality and online and mobile banking services.
BVA BDRC (now part of Ipsos) surveyed 20,450 small business customers between January and December 2025, asking them if they would recommend their provider to other SMEs.
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Overall service quality – Monzo
Monzo was ranked first for overall service quality (85%), narrowly beating Mettle by Natwest into second place (83%) and Starling Bank into third place (81%). Bank of Scotland tied with Barclays for joint last 16th place (52%).
Overall service quality
Overall service quality
#Bank%
1Monzo85
2Mettle by NatWest83
3Starling Bank81
4Handelsbanken75
5Tide70
6Zemplar Bank67
7=Metro Bank62
7=NatWest62
9=Virgin Money59
9=Lloyds59
11=TSB55
11=Royal Bank of Scotland55
11=HSBC55
14=Santander54
14=The Co-operative Bank54
16=Bank of Scotland52
16=Barclays52
Source: BVA BDRC
Online and mobile banking services – Monzo
This was the only category where Handelsbanken did poorly compared to other providers. Monzo came top at 90%, followed by Starling (86%) in second and Mettle by Natwest Sin third (84%). The Co-Operative Bank was judged to have the least user friendly mobile and online banking service (47%).
Online and mobile banking services
Online and mobile banking services
#Bank%
1Monzo90
2Starling 86
3Mettle by NatWest84
4=Tide74
4=NatWest74
6Zempler Bank73
7Lloyds72
8Royal Bank of Scotland70
9Barclays68
10=HSBC UK67
10=Bank of Scotland67
12Virgin Money65
13=Santander62
13=Metro Bank62
13=TSB62
16Handelsbanken57
17The Co-operative Bank47
Source: BVA BDRC
Relationship and account management – Handelsbanken
Handelsbanken was the clear winner when it came to relationship and account management (85%) followed by Mettle by NatWest (75%) and Monzo (74%). Santander ranked bottom (48%).
Relationship and account management
Relationship and account management
#Bank%
1Handelsbanken85
2Mettle by NatWest75
3Monzo74
4Starling73
5Zempler Bank69
6=Tide62
6=Metro Bank62
8Royal Bank of Scotland60
9HSBC UK58
10=Lloyds56
10=Virgin Money56
12NatWest55
13The Co-Operative Bank54
14TSB53
15Bank of Scotland51
16Barclays50
17Santander48
Source: BVA BDRC
SME overdraft and loan – Handelsbanken
When it comes to arranging small business overdrafts and loan facilities, Handelsbanken was highest-recommended bank by SMEs (69%), although not by much. Metro Bank came in second (65%) with Lloyds taking third spot (57%). Barclays came last out of nine providers that offered SME overdrafts and loans (53%).
SME overdraft and loan
SME overdraft and loan services
#Bank%
1Handelsbanken69
2Metro Bank65
3Lloyds57
4Royal Bank of Scotland56
5=NatWest55
5=Bank of Scotland55
5=HSBC UK55
8Santander54
9Barclays53
Source: BVA BDRC
Service in branches – Handelsbanken
Handelsbanken squeaked to first place at 72%, although Metro Bank – known for its grand banking foyers – was just behind with 65%. Virgin Money Bank followed in third (56%), though Barclays once again came last, finishing 12th (42%).
Service in branches
RankingBank%
1Handelsbanken72
2Metro Bank65
3Virgin Money56
4The Co-operative Bank55
5=Lloyds51
5=NatWest51
7Bank of Scotland51
8=TSB50
8=Royal Bank of Scotland49
10=Santander48
10=HSBC UK43
12Barclays42
Source: BVA BDRC
Further reading
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