CMA letter to Starling Bank about breaching Part 3 of the Retail Banking Order
CMA finds breaches of Part 3 of the Retail Banking Market Investigation Order 2017 and Starling Bank has agreed to take action to prevent a recurrence.
Documents
Details
Part 3 of the Order requires Business Current Account (BCA) providers with 20,000 or more SME (small to medium-sized enterprise) customers in Great Britain to take part in a survey which assesses how likely those customers are to recommend that provider. The results – showing each bank’s score and its ranking compared with other BCA providers – are then published. Participating providers must supply the market research company which carries out the independent survey with a list of SMEs to take part in the survey. That list should include all SMEs that hold BCAs.
Starling Bank breached Part 3 of the Order by failing to provide the market research company with data on all the required businesses for the BCA survey for Great Britain. The data provided to the market research company by Starling Bank did not include holders of the Starling Sole Trader Account.