Nationwide voted most trusted financial services company

The UK’s largest building society, Nationwide, is the financial brand UK consumers trust the most, according to the results of the first Moneywise Customer Service Awards.

The results come at the end of a six month investigation by Moneywise magazine into what Britons really think about their financial services providers.

More than 10,000 responses were received via Moneywise magazine and Moneywise.co.uk and this information was then used to identify those companies which the British public believe offer the best service and those which are most trusted to provide these services.

According to Moneywise, the survey was carried out in recognition of the fact that customer experience is the most important thing. The research was designed to highlight any discrepancies between the message a financial services company sends to the consumer and what the consumer actually experiences.

LV= came out as the most trusted home insurance provider, while AXA were found to be the most trusted brand for critical illness cover. For loans, consumers deemed Alliance & Leicester the most trustworthy brand, while American Express scooped the crown in the category of credit card providers.

Among the Best Service award winners was First Direct for its current account both online and by telephone, while Royal Bank of Scotland won the title of best service for a current account in branch.

Moneywise magazine publishing director Jeremy King said:

“After months of hard work we are delighted to finally be able to give consumers a compass as to which financial services companies they can trust and expect to receive good customer service from. And since we’re relaying back to them their views rather than opinions based on what the industry thinks it’s a genuine reflection of how the man in the street is being served, because who do you trust if not yourself?”