Yorkshire BS named Most Trusted Financial Provider

Last updated: Jun 14th, 2013
News by Mark King
Jumping businessmen

Yorkshire Building Society has been named Britain’s Most Trusted Financial Provider for the first time in the five year history of the awards.

The prize was awarded at the Moneywise Customer Service Awards ceremony in London on 13 June 2013.

The annual awards, now in their fifth year, are based on research conducted by Moneywise that compares the opinion of over 20,000 British consumers, about the service they receive from the companies that provide them with financial products. The survey also asks them which are the ones they trust most to look after their interests.

Its customers told Moneywise that YBS is an ethical organisation that looks after its customers by not treating them simply as opportunities for profit, but as people. With big wins elsewhere on the night for Smile, Nationwide Building Society, Coventry Building Society, NFU Mutual, Zopa and Benenden Health - the awards signal a subtle shift away from the major high street banks to mutual and smaller organisations.

A typical YBS customer said: “They actually take the time to understand and resolve my issue/requests fully and comprehensively…in short they really do care...I also feel like a valued customer rather than someone who is just a profit opportunity.”

YBS fought off competition for the biggest prize of the night from Coventry Building Society, First Direct, Nationwide Building Society, Smile and The Co-operative Bank.

Elsewhere, First Direct scooped four awards: Most Trusted Credit Card Provider, Most Trusted Mortgage Provider, and Best Current Account for both call centre service and online service.

Nationwide won two awards: Most Trusted Travel Insurance Provider and Most Consistent Financial Provider.

NatWest was named the Most Trusted Mainstream Bank – an award that indicates its customers have forgiven the bank for its high-profile IT problems of 2012 – while First State won Most Trusted Fund Manager.

FOR A FULL LIST OF THIS YEAR'S WINNERS, VISIT OUR AWARDS PAGE.