The 5 best banks according to Trustpilot

When you want to find information about a company based on user reviews, the best place to look is clearly Trustpilot. Trustpilot is a website solely for user reviews, which are genuine and credible. According to Trustpilot’s reviews, the 5 best banks are Ferratum Bank, Vestjysk Bank, Nykredit, Express Bank and Lunar. 

In this article you can read about the positive and negative reviews users have given the 5 best banks according to Trustpilot.

1. Ferratum Bank

Ferratum Bank is part of Multitude.com, was founded in 2005 and is now in 1st place on Trustpilot. They have a score of 4,8/5 stars, with 80% of users giving the top rating of 5/5 stars. 

Positive reviews make up by far the majority of their reviews, with most users giving top marks for the good experiences they have had with Ferratum Bank. Users particularly mention that they are quick to pay out loans and have clever ways of depositing or withdrawing money, so you avoid bank transfers with registration and account numbers. Several users explain that they charge a reasonable interest rate on their loans, so prices are sensible, and that they also have fast, good customer service. 

Negative reviews are clearly the fewest, making up 5% of their total reviews. Here users mention their high interest rates, complaining that only new customers get 25% interest, while existing customers get extremely high rates. Users also report poor customer service.

2. Vestjysk Bank

Vestjysk Bank was founded in 1874, and with their long history behind them they hold 2nd place on Trustpilot. They have a score of 4,6/5 stars, with 79% of users giving the top rating of 5/5 stars. 

Positive reviews are generally in the majority, and users say in their reviews that they are very satisfied. Users often mention that the staff themselves are first-rate and that you get professional guidance on whatever you need, such as financial advice, investments or general questions about loans. 

Negative reviews exist too: 7% of their total reviews are 1 out of 5 stars. One user mentions that it has been difficult to get new cards every time they needed renewing, and that the bank hung up in the middle of the call when the user tried phoning. Other customers also report poor customer service, with no reply from the bank.

3. Nykredit

Nykredit was founded in 1985 and is now in 3rd place on Trustpilot with a score of 4,5/5 stars, with 64% of users giving Nykredit 5/5 stars. 

Positive reviews are in the majority, with users writing about various aspects of their positive experiences with Nykredit.  One user mentions that the meeting with the bank was fantastic and gave them a better insight into their finances and their plans for the future, including their pension. Other users report the same, with professional staff, good guidance and good online customer service.   

Negative reviews are unfortunately fairly common for Nykredit, with 24% of their reviews at 1 out of 5 stars. Most users mention a lack of contact and communication between them and Nykredit. Several experience long waits for email replies and long phone queues, and beyond customer service, users have trouble getting a loan approved or find the interest rate too high.

4. Express Bank 

Express Bank was founded in 1987 and holds 4th place on Trustpilot with a score of 4,3/5 stars, with 67% of users giving the top rating of 5/5 stars. 

Positive reviews are plentiful, with users describing the positive experiences they have had with Express Bank. Many users mention that they get good customer service and that borrowing money from them is quick and easy, as everything is done digitally; they also have good offers and prices on their loans. 

Negative reviews at 1 out of 5 stars are fairly common, making up 8% of their total reviews. One user writes that they do not have a handle on repayments and deny having received any emails from him, even though he says he has sent them 8. 

Several users report problems taking out a loan or being turned down, and several users also say that customer service is poor, with unprofessional staff. 

5. Lunar

Lunar is a relatively new bank, founded in 2015, and in that short time they have managed to take 5th place on Trustpilot, with a score of 4,2/5 stars and 69% of customers giving the top rating of 5/5 stars.

Positive reviews are generally in the majority, with users describing the good experiences they have had with the bank, which works through an app. Users praise the app highly for being user-friendly, simple and easy to use, and for working really well. Users are happy with the positive interest rates and describe being able to get them at Lunar as a fantastic opportunity.

Negative reviews have been fairly common in the short time Lunar has existed, with 13% of their total reviews at 1 out of 5 stars. Users experience poor customer service with very long response times from Lunar, and keep contacting them without success. One user also finds that several people handle the same case, which makes it messy and hard to follow how far along the process is.

Can I trust Trustpilot reviews?

Trustpilot has scanning software that filters out fraud and breaches of its guidelines. That way, every review on Trustpilot has been scanned and checked, so the reviews are genuine and credible. Writing a review on Trustpilot is free and uncensored, so anyone can use Trustpilot to review the company in question.