Big name high street banks are failing to satisfy their customers – smaller financial institutions are doing far better, according to research by online consumer magazine Which?

First Direct, One Account and Smile are the best banks at keeping their customers happy regarding current accounts, savings, credit cards and mortgages.

Customer service was at the top of the agenda and First Direct scored top in three of the key areas giving it an overall score of 82 per cent. One Account scored 81 per cent and Smile scored 79 per cent.

The two banks owned by the Lloyds Banking Group, Halifax and Bank of Scotland, ranked at the bottom of the table. Bank of Scotland scored 43 per cent, down by 18 per cent from the average overall bank rating.

Which? chief executive, Peter Vicary-Smith said: “Whether it’s a current account, mortgage, credit card or savings account, we consistently see the same names keeping their customers happy. Time and again, the big high street banks are found to be lacking when it comes to good customer service. People who are unhappy with their bank must vote with their feet and move to a better financial provider”.

Santander scored slightly better than Bank of Scotland with a satisfaction score of 47 per cent. The report said: “While [Santander] may have a reputation for great service in Spain, it’s a very different story in the UK where it continues to rank as one of the worst brands in all our customer satisfaction surveys”.

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