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Banks Survey Rankings

I've just filled the latest Virtual Surveys Online Banking Survey (V-OBS) conducted on behalf of the banks and at the end they gave the Q1 2004 results from the survey which I've copied here for anyone interested in opening a new account or changing bank accounts. The results tend to mirror the Which? magazine surveys and previous comments on the group

"You might be interested in some past results from this survey. The chart below shows how online banks compare overall. Marks are out of

  1. 5 represents excellent, 1 represents poor, so the higher the score, the better the rating!

3.9 Average Bank

4.5 Smile 4.4 First Direct 4.3 Cooperative 4.1 Nationwide 4.0 HSBC 4.0 Cahoot 3.8 Lloyds TSB 3.8 RBS 3.8 NatWest 3.7 Egg 3.7 Barclays 3.7 Halifax 3.6 IF 3.6 Abbey National 3.6 Alliance & Leicester"

A complete list of surveys is available here

Reply to
Daytona
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So there's only a 20% difference between the best and the worst. Tell Which? that.

At least Egg could readvise me of my credit card PIN online. Nationwide? They couldn't even readvise me by any means - they had to send me a new one, and only after my online request was refused "because the message content was inappropriate", so I had to phone up. Crap web site, with abysmal functionality. A pity, since they have some good deals such as low foreign exchange transaction costs on their credit cards and a good interest rate on ESaver - 0.25% better than Egg.

Brian

Reply to
BrianW

That doesn't follow (even if every respondent used the ratings in the same way and acted, amongst other things, as if the difference between 3 and 4 were the same as 2 and 3). For example, there is a ceiling effect to contend with. This squashes together the responses at the top of the scale making it very difficult to judge the difference between 4.5 and

4.4 (assuming scores are out of 5).

Thom

Reply to
Thom

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