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 BDRCOnline 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 BDRCRelationship 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 BDRCSME 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 BDRCService 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 BDRCFurther reading
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