Tag Archives: banks

How to solve the problem of free banking?

 RBS recently created a storm by announcing that it would be restricting its basic bank account customers to using only its own ATMs. As well as acres of negative media coverage, and questions from the Treasury Select Committee it has also generated an online campaign against the move, complete with a petition (although at the […]

Payday PR

Payday loan firms are losing the PR battle but sales are booming. But will they avoid regulation?

Cheques, ATM charges and honest conversations

It is not fashionable to feel sorry for banks, but I’ve had a pang of sympathy this week – brought on by media coverage of ATM charges and cheques.  Banks are, by and large, businesses so they exist to serve their customers and to make money for their shareholders. And as we know, recently, they’ve […]

Killing you softly – Barclays and Standard Life Bank

When Standard Life Bank first launched we were big fans. It was one of the first with flexible mortgages – Freestyle – and we took one of those out with it, with the majority of the transaction being completed quickly and easily online and over the phone. We also opened a number of its Direct Access […]

Relationship banking?

 Last week Lord Turner, chairman of the FSA, made some comments about free banking being bad for customers, which have been widely reported in the media. His argument was that free banking is a loss leader so bank are compelled to try and cross sell other products. In fact the strategy of retail banks doesn’t […]

First direct’s CEO Matt Colebrook talks social media with themoneymuse

When we first sat down to talk about creating a new direct bank we had a blank piece of paper in front of us. In the middle of it, we wrote the word “customer” and drew a circle round it – that was the first document first direct ever produced. Why start an article on […]

Why the financial services industry wants a base rate change…

Yesterday’s Money Mail article on savings rates cuts made me think about how many in the marketing departments of banks and building societies must be longing for a Bank of England Base Rate change. Why?  Because rate changes it make it easier to reprice their new and existing product ranges to gain margin “unobtrusively”. The […]

What’s the point of the NatWest Customer Charter?

It seems that you can’t switch on the television at the moment without seeing an advert for the NatWest Customer Charter.  The Charter runs to 14 commitments spread across four categories like ” We are committed to making banking easy”. So what’s it all about and why are they doing it? For me NatWest is […]