Moneynet.co.uk praises Co-operative current account interest rates decision

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Moneynet.co.uk praises Co-operative current account interest rates decision

Fri 24th Sep 2010

A new initiative recently launched by the Co-operative has been applauded by a spokesperson for Moneynet.co.uk.

Andrew Hagger made his comments regarding the decision by the Co-operative to let people try out its Privilege and Privilege Premier Packages Current Accounts free of charge over 12 months.

In his opinion, this will give individuals the opportunity to see if the accounts are well suited to their own needs.

"It's refreshing to see this long-term 'try before you buy' approach being used and letting customers decide for themselves," he remarked.

Mr Hagger noted that banks often try to convince consumers to switch current accounts by offering short-term cash incentives, but this can lead to people switching for the wrong reasons.

Last month, the Co-operative announced that a project to help prisoners get a bank account when they are released from jail has hit a landmark - 1,000 inmates have signed up for the initiative, which has a positive impact on them, according to Liverpool John Moores University.

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