Best Banks in UK

There are more than 300 banks and more than 45 building societies in the United Kingdom (Great Britain), thus making it the world’s fourth largest and Europe’s top largest banking system.

The Wide Branches of UK Banking System Contains

• Business bank services for executives, they usually include additional fees and services charges.
• Enormous street banking services for the general public.
• Investment bank services to invest money in stock markets and bond markets.

As you know that a bank is an institution that receives deposits, creates credit, and makes loans. So, in this article, we will be discussing the top banks in the United Kingdom.

List of Best Banks in England | United Kingdom

• HSBC Holdings
• Lloyds Banking Group
• Royal Bank Of Scotland Group
• Barclays
• Standard Chartered
• Clydesdale Bank & Yorkshire Bank
• Loot
• Monese
• Revolut
• Monzo
• Starling
• Santander
• Chase
• ICICI
• NatWest
• Tesco
• Bank of Scotland
• Bank of England

HSBC Holdings

It is the largest bank in Europe while in the category of the largest banks in the world, it lies at number 7. it has a total asset of 1,936 billion pounds. This bank was first established in 1865 and has its branches in 67 territories and countries around the world. A survey of 2014 said that it is the 6^th largest public company in the world.

HSBC was established in March 1865 in British Hong Kong and then in London in 1991.

HSBC Holdings has more than 3900 offices in 67 countries across America, Asia, Oceania, Europe, and Africa. HSBC Holdings has an enormous banking network with 964 branches of banks in Britain and other 13 branches of banks in the Isle of Man and the Channel Islands all around.

This works within 4 business groups which are:

• Commercial Banking
• Global Banking
• Investment Banking
• Retail Banking

Lloyds Banking Group

This bank was established with the incorporation of HBOS and Lloyds TBS in 1765 so it is one of the oldest banks in the UK. Lloyds headquarters is in Gresham Street London. It has a total asset of 817 billion pounds which makes it the second largest bank in the UK.

This bank works in commercial banking, retail banking, insurance, and consumer finance and is a thorough supporter of disability rights.

Lloyds Banking Group is the 2^nd largest bank in the UK with assets of 817 billion pounds. This group started working with the top nine universities of UK to provide scholarships to students in 2011. Its total employees working at different offices range up to 75,000.

It has enormous banking roots in several countries in Asia, the Middle East, Europe, and the US. The Lloyds Banking Group is organized into four major business groups; Retail Banking, Commercial Banking, Insurance Banking, and Consumer finance.

Royal Bank of Scotland Group

Royal Bank of Scotland (RBS) was established in 1880 and its headquarter is in Edinburgh. It is commonly known as RBS group which offers a variety of financial services to its customers.

Some of their major services are personal and digital business banking, insurance services, and corporate finance. It is the third-largest bank in the UK with an asset of 783 billion pounds. It is organized into three major groups which are NatWest, Royal Bank of Scotland, and Ulster Bank with their own subsidiary businesses.

It also issues banknotes in Scotland and Northern Ireland and it is the only bank in the UK that still prints £1. This group has the specialty of providing financial aid to companies to coal mines and their power stations.

Barclays

This bank was established in 1690. It is a multinational bank with its headquarters in London. It has its offices in 40 countries employing 120,000 employees. With an asset of 1,203 billion pounds, it comes at number 4^th in the largest banks of the UK.

It provides services in relation to wealth management, personal banking, and insurance. It has its branches more than 4750 in different countries. Most of its branches provide 24 hours service of ATMs.

Standard Chartered

It is also a multinational bank founded in 1969, with its branches in almost 70 countries employing people over 87,000.  It does not have its retail banking in the Uk and its 90% profit comes from the regions like Asia, Africa, and the Middle East.

Standard Chartered is one of the largest networking services bank in the UK, its headquarter is in London

Its assets are valued at 526 billion pounds. The biggest shareholder of sc is Temasek Holdings owned by the Singaporean government. The bank is organized into two divisions that are, The Consumer Bank and the Wholesale Bank.

Although its headquarter is in London it does not operate retail banking services in the UK. More than 90% of the bank’s profit comes from Asia, the Middle East, and Africa. The bank assets are valued at 526 billion pounds.

Clydesdale Bank & Yorkshire Bank

This bank was launched in 2016. It has its own B App which has a variety of options like B Currency and B Smart. B Currency provides you an opportunity to convert your money into another currency and that is for free. Isn’t it great?  while B Smart helps to save money on electricity bills.

This bank offers an instant saving account, both with credit and debit cards on Android Pay, Apple Pay, and Touch Id. You can visit its website – www.youandb.co.uk

Loot

It offers a current account and contactless Loot Mastercard® card. Different features are available on it to manage the money. It provides the option to send and receive money through faster payments. It has different budgeting and saving tools. This was launched in 2016. Its website is loot.io

 Monese

Monese provides a 100% mobile current account. By downloading the app and following the instructions, one can make his account in minutes. All you have to provide is a photo of yourself and a passport or an ID card. There is no need to rush to a branch in person when all is set up on your phone. It supports 11 languages.

Revolut

Revolut was established in 2014. Its specialty is that it offers you to transfer money without any fee. That is why business people like it. You can hold and exchange 24 currencies without paying any charges.

Monzo

Monzo is available on your phone and it has a million customers. It quickly transfers your money.

Starling

Starling has its own app through which you can get account updates and alerts. The app provides security tools as well.

Santander

Santander Bank, based in the UK, gives you an opportunity to deal with your money matters through your phone by using an application. You can easily check your balance and loans. Santander Bank also supports businesses. Its head office is at 2 Triton Square, London.

Chase

From online and mobile banking to business banking, this bank serves the best. If you plan to invest then their financial advisors help you out to reach your goal. You can easily pay your bills and transfer your money through Chase Online.

ICICI

This is a global award winning bank.  It has its offices in 17 countries. It has 4,867 branches with a total asset of US$ 173 billion. A million people are its customers in the UK.

NatWest

Its online services are available 24/7. Online banking makes money transferring and transactions, easy. Even if you leave the UK, it will still provide its services to you. According to the latest survey, this has been recommended by 60% of people.

Tesco

Tesco Bank has six million customers and it provides a variety of offers and services. You can call the support center from anywhere in the UK to resolve your problem at any time. On your phone, they are 24 hours available.

Bank of England

The central bank of the UK is the Bank of England. It was established in 1694. It is one of the oldest banks in the world.  Its headquarters are in the city of London. This bank works with other institutions in relation to financial and monetary stability. 

Bank of Scotland

It helps you with your bank account, credit card, and even mortgage. It is the oldest 5^th bank in the UK. It is one of those first banks that printed their own banknotes in the UK.

It has up to 20,000 employees in different offices. It offers a secure mobile application with which you can easily pay bills and funds. It keeps the history of your transactions and you can complain if any inconvenience occurs.

Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.