How clients choose a business banking plan: 8 tips for a better UX

How does a business owner choose a banking plan? It’s not only special features and attractive rates that drive the customer’s choice: complete and ethical visual representation on a bank’s website is absolutely crucial to increase conversion and build trust. Unfortunately, this is something many banks neglect to this day, using opaque – and sometimes even dishonest – design techniques. 

This article offers a step-by-step guide for banks to help their business clients achieve their goals, based on good and bad UX practices 8 well-known European banks use to describe their plans to customers.

Tip #1. Think like a user 

When it comes to choosing a business bank account, monthly fees are not always the main criteria. First and foremost, the entrepreneur wants to make sure that a bank is trustworthy: she or he seeks for advice from friends and checks available bank rankings for reputation and reviews.

Next comes the product line: money management opportunities, bank loan requirements, foreign currency accounts and types of payments. Experienced entrepreneurs pay attention to more business-specific characteristics: access for several directors, conditions for deposits, and savings accounts. 

Once the choice is made, the entrepreneur studies the available plans to choose the necessary set of bank products and get acquainted with specific conditions. The choice of banking plan is based on two cornerstones: core banking features and additional perks that make life easier for business, the main being:

• transaction conditions: withdrawals, deposits, payments

• service and product: VIP support, accounting assistance, invoicing

To help a client make the right decision, a bank needs to think like a user. Put yourself in your client’s shoes to understand their goals and motivation while they are choosing a suitable and cost-effective banking plan.

Here’s what your client does:

1. Checks if the banks meets business needs

2. Chooses 1-2 suitable plans

3. Selects the best option

4. Double-checks the data

The goal of a (great) bank is ultimately to make lives of their clients easier, supporting a potential customer on every step of this process by offering transparent and complete information. Here’s how: 

Tip #2. Describe plans on the web-site

Website is the first point of contact with a client who wants to open a business account. The first interaction with the bank is usually enough for the user to form an opinion about how the bank treats its clients. You only get one chance to make a first impression. 

Example 1: Starling Bank

No matter how hard we tried, we couldn't find the rates on Starling Bank’s website. We waited for 20 minutes in a chat queue to find out how much their services cost and where to find the details. An entrepreneur would face the same situation in many large banks. 

Example 2: N26

It is not difficult to find the rates on the website of Germany-based N26, as well as on other neobanks’ websites. You can access pricing from the main menu. The section is immediately visible and available to the user. 

Banking plans descriptions are a good opportunity to highlight the bank’s possibilities and competitive advantages. An entrepreneur will get a clear picture of the bank and the product without wandering through all the sections of the website. 

Convenience at the first interaction creates a good impression of the quality of provided service. Accessible, detailed description of the advantages and requirements creates the impression of transparency, so the client trusts the bank more. 

Tip #3. Simplify the search for plan features 

Many banks classify their clients by several portraits: startup, big business, and so on, with  plans suitable for each category usually located in different sections of the website. While this move might be driven by the will to optimise and to simplify choice, it actually might cause additional hurdles. 

Example 1: Barclays

Barclays website makes you surf through multiple pages to find a suitable plan. As a matter of fact, the plans are the same in all sections. 

Example 2: Revolut 

Revolut shows all their plans on a single page. There is a division by portraits – company / freelancer – but you can switch between them instantly without going to other pages. 

Many pages with plan descriptions instead of one complicate the user experience, forcing a customer to guess which category (according to the bank) their business belongs to. Your clients also have to go through several pages one by one to make sure that they don’t miss a better offer.

With all plans are collected in one place, a potential customer can easily choose a plan without any additional actions. You don’t want to confuse them, do you? 

Tip #4. Place plans in columns

In order to simplify the comparison of different plans, it is better to place the options in columns next to each other. This way a user won’t have to constantly re-read the information, sliding back up and then down again with their gaze (it’s only good as an eye exercise). 

Example 1: Santander 

Santander used the card format to describe the plans they offer, but the horizontal layout of the cards is not convenient for comparison. A client has to re-read the bullet points several times. The names of the plans don’t help to understand the difference either. 

Example 2: Coconut

Coconut makes it easy to compare conditions on their website. The eye zigzags in vertical blocks, so differences in plans are instantly visible. Users do not have to re-read the information. 

If the plans are incorrectly represented, a user will spend more time on trying to keep in mind the info scattered all around the website, get irritated and miss out the specific advantages of a plan or an important condition.  

Tip #5. Visually highlight the important info 

Studying a large amount of information is a complex task for users. A carefully designed structure simplifies the perception of the plan comparison table. 

Example 1: Monzo 

Monzo’s plan comparison table is divided into clear and user-friendly blocks: how plans differ, what advantages the band offers, what are the conditions for banking operations. 

The user will find it easier to navigate through the plans by structuring the information according to his needs, spotting the most relevant info at one glance. 

Tip #6. Structure parameters by rows

When comparing two or more plans, a client selects a comparison parameter and expects to see how it is represented in different plans. 

Example 1: N26 

N26 placed the conditions for the same parameter in different rows, so to compare the two plans, you have to re-read all the conditions in a row until you find what you need. 

Example 2: Barclays

This table of Barclays rates is easy to navigate. The indents are large, the borders are clear - you understand what you compare. Of course, this is not an example of cute and modern design. For more convenience, the width of the columns could be reduced so that you don't have to make long horizontal movements with your eyes, as they slow down perception. 

One shouldn't rely on human memory. The user will not keep all the parameters in mind to then compare the two plans. Do not burden them with extra work – give them a tool that will solve the problem. 

Tip #7. Write about prices and commissions honestly

European banks have almost no room for dark UX patterns (like many Russian banks, for example, do). Banks do not hide information about commissions, do not use tricks to manipulate the user's attention and decisions. “No hidden fees" line is almost always true. However, in a detailed study you might notice several violators who took a small step on the dark side. 

Example 1: Coconut

Coconut does not include VAT in the price. Mentioning that in small and not contrasting text can be considered a dark UX pattern. The user might immediately have the question: "what other sums are not included in this table?”. 

Show the total cost of the plan at once. 

Example 2: N26 

N26 has the maximum number of cash withdrawals prescribed, but it is not clear what will happen after the excess and what conditions need to be met to get the maximum number of withdrawals. You should not force the user to look for this information in a lengthy PDF document. 

Show the commission for exceeding the limits. 

Tip #8. Provide the information right here and right now

Example 1: HSBC

Using asterisks for footnotes, like HSBC, is a mauvais ton. This pattern slows down the reading, you have to search for a footnote and then go back to studying the plan again. Show the important thing right away, where the user needs it. 

Example 2: Santander

Santander tells us which document has more information on rates, but we didn't find this document on the website. It is worth adding a hyperlink to additional information.

To sum it up 

For this research, we have have thoroughly reviewed 8 websites of European traditional and neobanks. 

Traditional large banks tend to place plans deep on the site and show only standard fees and charges – a client has to jump on a call to get a detailed info. Neobanks go a different way: they make plans the main page for a user to get acquainted with the product. The formats neobanks choose are usually more user-friendly, with all info on the benefits, conditions and prices collected in one place. 

We are pleased to note that both traditional and neobanks strive to be honest with users. You rarely encounter truly dark UX: we barely saw examples of direct manipulation or deliberate misrepresentation.

In 6 of the reviewed banks, however, the user experience can be significantly improved by several corrections in the UX design. It will be easier for the user to make a choice in favour of a particular bank if the necessary information is provided in a convenient format. The decision-making can be quicker and more accurate, if you think like a user and simplify each of their actions. 

The right design of the plans section can even bring additional value: for example, Revolut shows plans that are still in development – the user sees that the product is constantly evolving, and will choose a plan based on the long-term perspective. 

The aesthetic component of the design should not be underestimated. Aesthetic usability effect states that people perceive attractive design as more convenient and understandable. 

The site is the first point of contact with the bank, where modern customers get acquainted with the product. By how thoughtful and user-friendly the website is, the entrepreneur will understand how the bank treats its customers, what further service and maintenance will be like. Simple, modern and clear website design, honest plans conditions give customers the confidence that the bank is in step with the times and provides excellent service.