SMEs get new “bank rating” website

The Federation of Small Businesses has launched a new website showing results from a survey of thousands of UK SMEs, who were asked about their experience of the banks they use.

The site, which is free to use, will be updated with new survey data every six months.

It shows results in three main ways:

Business Current Account – Shows scores for all the banks that respondents said they use for a current account. Each bank’s overall score is shown, as well as its score on five individual attributes.

Products and Services – Shows the overall score for each bank on 13 different products and services offered to businesses.

Bank page – Where a bank name appears as a hyperlink, the site user can click on the link to find all the ratings for that particular bank, within each business size group. Each bank page summarises results for business current account and all other products and services for which the bank is rated.