3 August 2006
An industry expert has said that a new current account offer from a major UK bank may not be the best option for consumers seeking a good banking deal.
NatWest's of Advantage Blue package offers its current account customers a range of products including insurance and discounted cinema and concert tickets.
Despite the offers, Nick White, head of personal finance at uSwitch.com, said no banking benefits came with package.
"The association of this offer with a bank account is a loose one," he argued.
"It is no different to the 'reader offers' that we are used to seeing in consumer publications, where the reader is presented with an offer that sounds too good to be true which has been 'exclusively negotiated on their behalf'."
He added that the bank was simply trying to sell its customers a basket of products that most are "unlikely to use". He also doubted whether it would save consumers any money.
His advice to consumers was to concentrate on offers that concentrated on giving them a good banking deal.
"It is far wiser for consumers to choose a current account with a good healthy rate of interest on credit, low charges, and low fees on overdrafts," he explained.
Compare current accounts and find the best current account for you with the uSwitch.com's free comparison service