Online banking is still dominated by the big high street names in the UK, but internet-only brands are making an impact. Lack of speed, though, is bringing down otherwise good banks.

In a report by Blay’s, a UK financial services research firm, high street bricks-and-mortar banks gained three out of the top five places. The top five only contained one pure internet bank – Abbey National’s Cahoot.

This might be because, to most people, it seems the traditional values of banking need to be adhered to online.

"Security, facilities and consistent design are more important than gimmicks and advertising," explained Ben Felton, head of business and e-commerce at Blay’s.

Surprisingly, Prudential’s Egg and online savings company First-e managed only joint 25th out of 60. Both were brought down more by the speed of their sites than other categories such as interactivity, content and ease of navigation.

Nationwide came top, with Norwich & Peterborough second. First Direct, a division of HSBC and a branchless bank before it had an internet side, came third. Alliance & Leicester were fourth, with Cahoot fifth.

The banks and building societies that came bottom were lesser known, apart from the Yorkshire Bank, which only managed to score 43/100.