Savings accounts provider Santander 'shows ambition'
www.moneynews.co.uk > Banking > Savings accounts provider Santander 'shows ambition'
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Savings accounts provider Santander 'shows ambition'
Thu 5th Aug 2010
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Head of banking at moneysupermarket.com Kevin Mountford made his comments after it was revealed that Santander had bought a number of assets from RBS.
He pointed out that it could be interesting to see how the handover of the 318 RBS branches will affect the service being delivered to customers.
Mr Mountford stated that the process is likely to last until the end of next year, which gives consumers a chance to see how they will be impacted financially by the change.
The moneysupermarket.com spokesperson urged individuals to switch accounts if they are not happy with the way they are treated by their financial services provider.
In his view, it could be an opportunity to check out what is being offered by other organisations in the banking sector.
"The deal takes the total number of Santander branches in the UK to over 1,600, cementing its position as one of the biggest players in the retail banking space," added Mr Mountford.
On the other hand, chief executive of consumer watchdog Which? Peter Vicary-Smith responded to the news by suggesting that it is a missed opportunity.
He claimed that more competition is needed in the industry and moving customers from one major institution to another will not deliver this.
Mr Vicary-Smith also criticised Santander for its poor record in Which? consumer satisfaction surveys, noting that it "does not bode well" for RBS clients being moved across to the bank.
Click here for more banking news
Related News : Banking |
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Related News : Santander |
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