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Moneyfacts Business Star Ratings announced

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Rachel Springall, Press Officer
Rachel Springall, Press Officer / Finance Expert T: 01603 476210 E: Email Rachel
11/05/2022

A stellar year for the Moneyfacts Business Current Accounts and Business Credit Cards Star Ratings 2022

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2022 for Business Current Accounts and Business Credit Cards.

  • For 2022 there were 37 Five-Star and 13 Four-Star Ratings awarded for business current accounts.
  • For business credit cards there were eight Five-Star and four Four-Star Ratings awarded for 2022.
  • The number of products in the market overall for business current accounts has reduced by just 4% with a drop of 10% in the business credit card market.
  • Over 225 fields of information per individual product were collected for business current accounts and more than 230 fields of information per individual product were collected for business credit cards, all of which were used in the assessment.

The products awarded Five or Four-Star Ratings offer the most comprehensive range of standout features and competitive charges, which set them apart from the rest of the market.

The instantly recognisable Moneyfacts badge of quality has for over 30 years helped inform consumers comparing business current accounts and business credit cards. About nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group plc, Financial Services online consumer survey 4/21).

A stellar year for the Moneyfacts Business Current Accounts and Business Credit Cards Star Ratings 2022

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2022 for Business Current Accounts and Business Credit Cards.

  • For 2022 there were 37 Five-Star and 13 Four-Star Ratings awarded for business current accounts.
  • For business credit cards there were eight Five-Star and four Four-Star Ratings awarded for 2022.
  • The number of products in the market overall for business current accounts has reduced by just 4% with a drop of 10% in the business credit card market.
  • Over 225 fields of information per individual product were collected for business current accounts and more than 230 fields of information per individual product were collected for business credit cards, all of which were used in the assessment.

The products awarded Five or Four-Star Ratings offer the most comprehensive range of standout features and competitive charges, which set them apart from the rest of the market.

The instantly recognisable Moneyfacts badge of quality has for over 30 years helped inform consumers comparing business current accounts and business credit cards. About nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group plc, Financial Services online consumer survey 4/21).

This year’s Five-Star awarded providers for business current accounts include:

Metro Bank and Virgin Money.

This year’s Five-Star awarded providers for business credit cards include:

Barclaycard Business, Metro Bank and NatWest and Royal Bank of Scotland.

FOR THE FULL LIST OF 2022 AWARDED PRODUCTS, PLEASE CLICK HERE FOR BUSINESS CURRENT ACCOUNTS.

FOR THE FULL LIST OF 2022 AWARDED PRODUCTS, PLEASE CLICK HERE for BUSINESS CREDIT CARDS.

This year’s Five-Star awarded providers for business current accounts include:

Metro Bank and Virgin Money.

This year’s Five-Star awarded providers for business credit cards include:

Barclaycard Business, Metro Bank and NatWest and Royal Bank of Scotland.

FOR THE FULL LIST OF 2022 AWARDED PRODUCTS, PLEASE CLICK HERE FOR BUSINESS CURRENT ACCOUNTS.

FOR THE FULL LIST OF 2022 AWARDED PRODUCTS, PLEASE CLICK HERE for BUSINESS CREDIT CARDS.

Lee Tillcock, Editor of Business Moneyfacts, said:

“Vital to the success of businesses, the challenges of the past year have seen the continuing importance of products in the business current account and credit card sectors further emphasised. The impressive range of features offered to meet the needs of modern-day businesses means that there are plenty of options to consider when choosing a business current account – something that the sector and regulator are clearly keen to promote. The annual Moneyfacts Business Current Account Star Ratings provide businesses with valuable insight into the quality of the features on offer, before assessing the individual costs.  

“It is also encouraging to see providers innovate and increase competition across the business credit card sector. However, as more businesses utilise business credit cards to assist them with keeping in control of expenses and keeping cash flow moving, it is still not easy for business customers to identify which deal will offer the best quality for their specific business needs. The annual Moneyfacts Business Credit Card Star Ratings look at the underlying features of a product, ensuring the business customer finds the most complete product in terms of flexibility and added extras, which will reward them over the longer term.”

Lee Tillcock, Editor of Business Moneyfacts, said:

“Vital to the success of businesses, the challenges of the past year have seen the continuing importance of products in the business current account and credit card sectors further emphasised. The impressive range of features offered to meet the needs of modern-day businesses means that there are plenty of options to consider when choosing a business current account – something that the sector and regulator are clearly keen to promote. The annual Moneyfacts Business Current Account Star Ratings provide businesses with valuable insight into the quality of the features on offer, before assessing the individual costs.  

“It is also encouraging to see providers innovate and increase competition across the business credit card sector. However, as more businesses utilise business credit cards to assist them with keeping in control of expenses and keeping cash flow moving, it is still not easy for business customers to identify which deal will offer the best quality for their specific business needs. The annual Moneyfacts Business Credit Card Star Ratings look at the underlying features of a product, ensuring the business customer finds the most complete product in terms of flexibility and added extras, which will reward them over the longer term.”

Numerous features are considered when assessing the ratings, and some of these include:

Numerous features are considered when assessing the ratings, and some of these include:

Business Current Accounts

Business Current Accounts

Flexibility

  • Account management
  • Card availability
  • Services from other banks and branches

Benefits

  • Loyalty bonus
  • Exclusive offers
  • Satisfaction guarantees
  • Emergency card
  • Preferential deals on other financial products

Flexibility

  • Account management
  • Card availability
  • Services from other banks and branches

Benefits

  • Loyalty bonus
  • Exclusive offers
  • Satisfaction guarantees
  • Emergency card
  • Preferential deals on other financial products

Features

  • Introductory offers
  • Credit interest
  • Overdraft availability
  • Standing charges
  • Cash withdrawal facilities and charges
  • Debit transaction charges
  • Credit transaction charges
  • Statement fees
  • Transfers and faster payments
  • Facilities and charges
  • Cash exchanging facilities and charges

Features

  • Introductory offers
  • Credit interest
  • Overdraft availability
  • Standing charges
  • Cash withdrawal facilities and charges
  • Debit transaction charges
  • Credit transaction charges
  • Statement fees
  • Transfers and faster payments
  • Facilities and charges
  • Cash exchanging facilities and charges

Business Credit Cards

Business Credit Cards

Flexibility 

  • Opening and operating options
  • Payment options
  • Balance transfer availability
  • Contactless
  • Number of additional cards

Benefits

  • Card fees
  • Balance and money transfer fees
  • Cash withdrawal fees
  • Late payment charges
  • Foreign usage charges
  • Trace fees
  • Minimum interest charges
  • Dormancy fees
  • Replacement card fees

Flexibility 

  • Opening and operating options
  • Payment options
  • Balance transfer availability
  • Contactless
  • Number of additional cards

Benefits

  • Card fees
  • Balance and money transfer fees
  • Cash withdrawal fees
  • Late payment charges
  • Foreign usage charges
  • Trace fees
  • Minimum interest charges
  • Dormancy fees
  • Replacement card fees

Features

  • Airport lounge access
  • Free emergency card
  • Free emergency cash
  • Interest-free days
  • Enhanced Purchase protection
  • Luggage insurance
  • Free text alerts
  • Cashback
  • Travel accident cover
  • European/worldwide travel insurance
  • Flight cancellation/delay insurance
  • Medical insurance

Features

  • Airport lounge access
  • Free emergency card
  • Free emergency cash
  • Interest-free days
  • Enhanced Purchase protection
  • Luggage insurance
  • Free text alerts
  • Cashback
  • Travel accident cover
  • European/worldwide travel insurance
  • Flight cancellation/delay insurance
  • Medical insurance

Notes to editors

Pioneering financial comparison technology for over 30 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

  • Personal Current Accounts
  • Personal Credit and Charge Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Ethical Fund
  • Equity Release
  • Critical Illness
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loan.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Notes to editors

Pioneering financial comparison technology for over 30 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

  • Personal Current Accounts
  • Personal Credit and Charge Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Ethical Fund
  • Equity Release
  • Critical Illness
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loan.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Contact Us If you're looking for extra comment, a chart or more information, then please give us a call. We are always more than happy to help.
Rachel Springall Press Officer / Finance Expert
Eleanor Williams Press Officer / Finance Expert