The United Kingdom is home to some of the world’s most trusted and well-established banks, offering a wide range of financial services to individuals and businesses. Whether you’re looking for savings accounts, loans, mortgages, or investment options, UK banks provide competitive products tailored to various needs. Here we will explore the top 10 banks in the UK, highlighting their key services, customer ratings, and what sets them apart in the banking industry. Whether you’re a local resident, an expat, or a business owner, or move to Britain recently this guide will help you choose the best bank for your financial needs.
List of banks in UK (Top 10)
After deciding to move to Britain, which bank is the best for you? The following part will list top banks in UK for your reference.
| Banks | Headquarters | Founded |
|---|---|---|
| HSBC Holdings | London, England | 1991 |
| Barclays | London, England | 1690 |
| Lloyds Bank | Edinburgh, Scotland | 2009 |
| NatWest | London, England | 1968 |
| Standard Chartered | London, England | 1853 |
| Santander UK | London, England | 2010 |
| Nationwide Building Society | Swindon, England | 1884 |
| Virgin Money UK | Glasgow, Scotland | 1995 |
| Royal Bank of Scotland | Edinburgh, Scotland | 1727 |
| Metro Bank | London, England | 2010 |
Top 10 UK banks
These top ten banks in UK are ranked based on their assets, services, history and other factors. These are popular banks that British locals are most likely to choose.
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1. HSBC
With its global presence today, HSBC boasts an extensive network of around 3,900 offices spanning 65 countries and territories across Africa, Asia, Oceania, Europe, North America and South America. This vast reach enables the banking giant to serve a staggering customer base of approximately 38 million individuals and businesses worldwide.
Established as a new group holding company by the Hong Kong and Shanghai Banking Corporation in 1991, this multinational investment bank and financial services conglomerate derives its renowned name from those very roots.
Through its diverse range of financial services and products, HSBC has solidified its position as a leading player in the international banking arena, catering to the ever-evolving needs of its clients across multiple continents and economies.
2. Lloyds Bank
Formed through the acquisition of HBOS by Lloyds TSB in 2009, Lloyds Banking Group is a financial powerhouse with a rich legacy spanning over three centuries. Tracing its roots back to the founding of the Bank of Scotland by the Scottish Parliament in 1695, the Group has evolved into a banking behemoth serving 30 million customers and employing 65,000 individuals across its various brands, including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows.
Guided by its “Help Britain Prosper” mission, Lloyds Banking Group is committed to achieving sustainable growth by driving revenue diversification, strengthening cost and capital efficiency, and maximising the potential of emerging technologies and data-driven tools.
3. NatWest
With over 960 branches and 3,400 ATMs across Britain, NatWest serves 7.5 million personal customers and 850,000 small businesses, offering a range of banking products and services. Today, Natwest is heavily invested in digital innovation, continuing the improve the user experience of its mobile app, leveraging open banking APIs and automated services like signature verification. The bank also aims to provide £100bn (US$126.8bn) in climate and sustainable financing by 2025, supporting customers’ transition to net zero emissions and renewable energy solutions.
4. Barclays
The roots of Barclays can be traced back to 1690 when a goldsmith banking business was established in London’s financial district, the City of London. However, the bank did not acquire its famous name until 1736 when James Barclay joined the firm as a partner. Today, Barclays operates through two main divisions – Barclays UK and Barclays International. These divisions are supported by a service company called Barclays Execution Services. Due to its significant size and importance, Barclays is designated as a systemically important bank by the Financial Stability Board, an international body that monitors the global financial system.
5. Royal Bank of Scotland
The Royal Bank of Scotland, founded in 1727 through a royal charter in Edinburgh, is a major retail and commercial bank in Scotland. It operates around 700 branches, primarily in Scotland but also in major towns across England and Wales. Today, despite a string of controversies over bailouts, bonuses and branch closures, RBS offers a range of personal and business banking services, aiming to support Scotland’s economic development under the NatWest Group umbrella.
6. Nationwide
The UK’s leading mutual financial institution, Nationwide Building Society continues to prioritise its members’ interests by pledging to keep all of its branches open until at least 2026. The building society has kept digital innovation a leading focus too, enhancing its online and mobile banking platforms by offering seamless services like invoicing for businesses. Committed to environmental responsibility, the bank aims to generate £15bn (US$19bn) in sustainable finance by 2024.
7. Santander UK
Santander UK aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. The UK arm of Banco Santander, the bank is building a more responsible organisation and has made many commitments to support this objective, including raising €220bn (US$239bn) in green financing between 2019 and 2030. At the end of 2023, Banco Santander had €1.3tn (US$1.41tn) in total funds, 165 million customers, 8,500 branches and over 212,000 employees. Today, it laying the groundwork for a digital future.
8. Halifax
Halifax, founded in 1853 as the Halifax Permanent Benefit Building and Investment Society, is a major UK bank operating as a division of Lloyds Banking Group. Originally a building society, Halifax demutualised and became a bank in 1997, later merging with the Bank of Scotland in 2001 to form HBOS. In 2009, HBOS was acquired by Lloyds TSB, with Halifax continuing as a brand under the Lloyds Banking Group umbrella. The bank has implemented innovative technologies such as heartbeat authentication for secure online banking, allowing customers to complete ID verification using unique electrocardiogram patterns.
9. First Direct
Launched in 1989, First Direct is a pioneering telephone and internet bank that was part of Midland Bank (now part of HSBC UK). It was the UK’s first 24-hour direct banking service, allowing customers to manage their finances without visiting branches. Under CEO Chris Pitt’s leadership, the branchless bank aims to double its customer base to 3 million by 2026, targeting younger demographics through improved digital presence and competitive product offerings like high-interest savings accounts and flexible mortgages.
10. Metro Bank
Metro Bank is one of leading high street institutions in the UK today, having only been founded in 2010 by Anthony Thomson and Vernon Hill. Championing an in-person banking experience through its network of branches, this doesn’t mean the bank hasn’t implemented technologies along the way. In 2021, the bank launched new invoicing technology for its business customers via its mobile app, and its partnership with HCL Tech has enabled it to drive continuous innovation and enhance customer experiences.
UK Banking System
The UK, especially London, is one of the major financial centres in the world. The banking sector in the UK is significant for Britain, and even the world. There are over 300 financial institutes in the UK, including banks and building societies.
Central Bank
Bank of England was nationalized in 1946 and then became the central bank of Great Britain. In 1997, Bank of England became an independent public sector, which means it is totally owned by the government, but has its own independent monetary policy.
The Big Four
UK banking has been highly consolidated since the early 20th century. Unlike some other major economies, the UK does not have large, independent local banks. After a series of mergers and acquisitions, the retail and commercial banking market is dominated by the Big Four:
| Banks | Headquarters | Total Assets (£bn) as of December 31, 2023 |
|---|---|---|
| HSBC Holdings | London, England | 2,387.03 |
| Barclays | London, England | 1,477.50 |
| Lloyds Banking Group | London, England | 881.50 |
| NatWest Group | Edinburgh, Scotland | 692.70 |
Building societies
Building society is a kind of mutual financial institution, and the main business includes savings, mortgages, etc. Some also offer debit and credit cards. This kind of financial institution exists mainly in the UK. Lenders and depositors are also the actual owners of the building society. Compared to high street banks, building societies are less complex. There are 5 largest building societies in the UK.
| Building Societies | Headquarters | Total Assets £000s |
|---|---|---|
| Nationwide | Swindon, England | 271,893,000 |
| Coventry | Coventry, England | 58,867,100 |
| Yorkshire | Bradford, West Yorkshire, England | 58,754,100 |
| Skipton | Skipton, North Yorkshire, England | 33,571,300 |
| Leeds | Leeds, England | 25,513,900 |
Best UK current account
Current account means a type of bank account that helps you save and manage your money. It’s a convenient way to buy and sell products. Although you may use other financial products, a current account is the most commonly used and most convenient one. However, with so many banks, how to choose the best current account? Finder has compiled a list of the best current accounts in the UK based on user feedback.
| Banks | Current Account (Best) | Min. Opening Balance | Account Fees | Interest (AER) |
|---|---|---|---|---|
| Starling Bank | Best all rounder and for overseas spending | £0 | £0 | 3.24% AER |
| Monzo | Best for extra features & green banking | £0 | £0 | 0% AER |
| Lloyds Bank | Best for payment features | £1 | £0 | 0% AER |
| Nationwide | Best for linked savings account | £0 | £0 | 0% AER |
| Chase | Best for cashback | £0 | £0 | 0% AER |
FAQs: Top 10 Banks in the UK
Which are the top 10 banks in the UK?
The top 10 banks in the UK based on assets and customer base are:
- HSBC
- Barclays
- Lloyds Bank
- NatWest
- Standard Chartered
- Santander UK
- Nationwide Building Society
- The Co-operative Bank
- Metro Bank
- TSB Bank
Which is the largest bank in the UK?
HSBC is the largest bank in the UK by total assets, operating globally with a strong presence in both retail and investment banking.
Which UK bank is best for savings accounts?
Nationwide Building Society and Santander UK often provide competitive interest rates and savings account options.
Which bank is best for business accounts in the UK?
Barclays and Lloyds Bank are popular choices for business accounts due to their wide range of services, digital banking tools, and financial support for businesses.
Which UK banks are the most secure?
All major banks in the UK are regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), ensuring high security. HSBC, Barclays, and Lloyds are known for their strong financial stability.
Are UK banks covered by deposit protection?
Yes, deposits up to £85,000 per person per bank are protected under the Financial Services Compensation Scheme (FSCS).
Which UK banks offer the best digital banking services?
NatWest, HSBC, and Lloyds have advanced mobile banking apps with AI-powered customer service, spending analysis, and fraud protection features.
Which UK banks have the best customer service?
Nationwide Building Society, First Direct (part of HSBC), and Metro Bank are known for excellent customer service, offering 24/7 support and personalized banking experiences.
Can non-residents open a UK bank account?
Yes, some banks like HSBC, Barclays, and Lloyds allow non-residents to open accounts, though requirements vary, often including proof of identity and address.
Which UK banks have the most branches?
Lloyds Bank, Barclays, and NatWest have the largest branch networks across the UK, providing accessible in-person banking services.
