Chase Bank has emerged as Britain's preferred bank, surpassing Monzo for the first time, based on a survey by the Competition and Markets Authority (CMA). The survey involved approximately 23,000 customers in the UK, showcasing a growing preference for digital banks over traditional banks. Chase entered the market only six months prior, yet earned an 81% recommendation rate from its customers. This development illustrates a significant trend in the banking industry as consumers increasingly prefer the services provided by newer digital banks compared to established institutions.
Chase has dethroned Monzo as Britain's favourite bank, according to a new survey, even as digital banks continue to outshine traditional high street institutions.
The Competition and Markets Authority (CMA) surveyed approximately 23,000 people across Britain and Northern Ireland, revealing a significant shift in customer preference.
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