List of Banks in UK: Top Banks, Services & How to Choose Right One

List of Banks in the UK: The UK banking sector is one of the most developed in the world, offering various financial products and services. The list of banks in UK includes large international banks and regional and local banks that focus on specific customer segments or geographical areas. 

Banks present in the list of banks in UK are also ranked highly in global banking reports. Banks in the UK are regulated by institutions like the Bank of England (BoE), which oversees monetary policy, and the Financial Conduct Authority (FCA), which ensures consumer protection and financial stability. Let us see the extensive list of banks in the UK and their functionality in the coming sections.

List of Top 10 Banks in UK

The banks in the UK have the greatest influence on the national economy, serving millions of individuals and businesses. The top list of banks in UK are well-established with vast networks of branches, digital platforms, and investment products. They hold significant assets and offer a broad spectrum of services, from simple banking to complex investment and international financing.

Various major banks offer top student bank accounts in the UK. Check out the list of list of banks in UK that are largest with their total assets and the location of their headquarters:

Bank Name	Headquarters	Total Assets (in GBP billion)	Established
TSB Banking Group PLC	Edinburgh	38.7	1810
Metro Bank PLC	London	22.5	2010
Shawbrook Bank Limited	London	8.9	2011
Virgin Money UK PLC	Glasgow	83.8	1995
Standard Chartered PLC	London	750.8	1853
Lloyds Banking Group PLC	London	852.5	1765
NatWest Group PLC	Edinburgh	837.5	1727
Barclays PLC	London	1,634.4	1690
HSBC Holdings plc	London	3,022.9	1865
Santander UK PLC	London	346.6	1857

Note: The total assets are based on data available up to 2023.

Also Read: The details about the Education Loan for Masters in Entrepreneurship in the UK. Read the blog to know more.

List of High Street Banks in the UK

Among the top list of list of banks in UK, high street banks are traditional banking institutions that provide a wide range of personal and business banking services, typically through physical branch networks. These banks have a long-standing presence on the UK’s high streets, offering services such as current accounts, savings accounts, mortgages, currency exchange in London and personal loans. 

Many of the UK’s largest financial institutions also fall under this category. Here is a list of high street banks in UK:

• HSBC
• Barclays
• Lloyds Bank
• NatWest
• Santander UK
• Nationwide Building Society

List of Major International Banks in UK

Several global banks operate within the UK, offering various services, particularly to businesses, high-net-worth individuals and students. These international banks bring global expertise and cross-border financial products that cater to multinational corporations, investors, and institutional clients.

Here is a list of major international banks in the UK that have significant operations:

• JPMorgan Chase
• Citibank
• Deutsche Bank
• UBS
• Goldman Sachs

List of Private Banks in the UK

Private banks in the UK provide specialized financial services to high-net-worth individuals (HNWIs) and families. These banks focus on wealth management, investment advisory, estate planning, and other bespoke financial solutions.

Private banking services are generally more personalized than retail banking services, with dedicated relationship managers and tailored investment strategies.  Students planning to study abroad can maintain a minimum bank balance for a UK visa in one of the private banks in the country.

Here’s a table with a list of banks in UK under private banking sector:

Private Bank Name	Specialization	Notable Services
Coutts	Wealth management and private banking	Investment management, estate planning, philanthropy
Rothschild & Co.	Private banking, wealth management	Tailored financial advice, global investment strategies
J.P. Morgan Private Bank	Wealth management and advisory	Bespoke investment solutions, family office services
Kleinwort Hambros	Private banking, wealth management	Portfolio management, tax planning, estate planning
HSBC Private Banking	Wealth management and investment	Investment advisory, wealth structuring, philanthropic advice
Barclays Private Bank	Private banking and wealth management	Investment management, retirement planning, trusts
Lombard Odier	Private banking and asset management	Global investment strategies, financial planning
Bessemer Trust	Wealth management and advisory	Estate planning, tax advisory, family wealth management
Vermilion Partners	Investment management and advisory	Tailored financial solutions, alternative investments
Weatherbys Private Bank	Private banking and wealth management	Lending, investment advice, legacy planning

List of Challenger Banks in the UK

Challenger banks in the UK are typically smaller, These banks are tech-driven that challenge the traditional banking model. These banks tend to operate without physical branches, offering most of their services through mobile apps or online platforms. Their appeal lies in their simplicity, user-friendly interfaces, and competitive pricing.

Here is a list of banks in UK classified as challenger banks:

• Monzo
• Starling Bank
• Revolut
• Atom Bank
• Tandem Bank

List of Online-Only Banks in the UK

Online-only banks, as the name suggests, operate without physical branches and provide all their services through digital platforms. This business model allows them to minimize overhead costs and pass the savings on to their customers in the form of better rates and lower fees. Many online-only banks have emerged in the UK, offering a more streamlined, modern approach to banking.

Here is a list of banks in UK under online-only banking sector:

• Monzo
• Revolut
• Atom Bank
• N26
• Starling Bank
• Kroo Bank
• Chase
• Zopa

Also Read: Know all about education loans for masters in the UK. Check out the top loan providers, effective rates of interest, and maximum amount offered.

List of Regional Banks in UK

Regional banks play a vital role in the UK’s banking system, serving specific geographical areas or customer segments. These banks focus on building strong relationships with local communities, often offering personalized services that larger banks cannot match. While some regional banks have become part of larger banking groups, many remain independent, with a focus on serving small businesses and local customers.

Check out the list of banks in UK under regional banking:

• Adam and Company PLC
• Bank of Ireland
• TSB Bank
• Clydesdale Bank
• Yorkshire Bank

These banks often provide services like local mortgages, business loans, and savings accounts, focusing on the unique needs of their customers.

UK Banks with the Best Customer Service

Customer service is a major factor for UK consumers when choosing a bank. With so many options available, customers are increasingly prioritizing banks that offer efficient, personalized service both in-branch and online. Banks that excel in customer service often provide easy access to support, helpful and responsive staff, and streamlined processes.

According to customer satisfaction surveys, here is a list of banks in UK that provide the best customer service are:

1. First Direct
2. Metro Bank
3. Nationwide Building Society
4. Smile (The Co-operative Bank)
5. HSBC

How to Choose the Right Bank in the UK for Your Needs

Choosing the right bank in the UK depends on several factors, including the types of services you need, your budget, and your personal preferences. Whether you’re looking for a bank with the best savings rates, low fees, or top-notch customer service, it’s important to research and compare different banks to find the one that best suits your needs.

Key factors to consider while choosing the best bank for you:

• Type of services offered (e.g., checking, savings, loans)
• Customer service quality and accessibility
• Digital banking features (mobile apps, online banking)
• Fees, interest rates, and product offerings
• Reputation for security and regulatory compliance

List of Top 10 Banks in UK by Revenue

In 2021, the top 10 banks in the UK collectively generated USD 224.03 billion in revenue, showcasing their substantial contribution to the financial sector. HSBC Holdings Plc led the rankings with USD 80.56 billion in revenue, maintaining its dominance with operations spanning 64 countries.

Let us check out the list of banks in UK that got the highest revenue in 2021:

The UK banking sector is vital to the national economy, with a diverse range of institutions, from well-established high street banks to emerging digital challengers. These banks offer comprehensive services for individuals, businesses, and global financial activities. With a focus on customer service, innovative digital solutions, and specialized financial offerings, UK banks continue to evolve to meet market demands. 

When selecting a bank, it’s crucial to consider factors like service quality, product offerings, and reputation, ensuring the best fit for your financial needs. 

To know more about the best bank accounts for students, forex, education loans and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.

FAQs on Banks in the UK

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