The CMA has written a letter to Starling regarding its breach of the Retail Banking Market Investigation Order (Order) in relation to the Service Quality Indicator (SQI) remedy.
Part 3 of the Order requires Business Current Account (BCA) providers with 20,000 or more SME customers in Great Britain to complete a survey in order to assess how likely the customers are to recommend that provider. Relevant providers must supply the market research company conducting the independent SQI survey with a list of SMEs holding BCAs, who will be invited to take part. Results showing each bank’s score and its BCA provider ranking are then published.
Starling breached the Part 3 requirement by failing to provide its market research company with data on all the required BCA holders. Specifically, the data did not include holders of the Starling Sole Trader Account (although it did contain businesses, which could include sole traders operating through a limited company, who held Starling’s other BC
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