Debenhams enters Financial Services Market

Wed, 28 Sep 2005

Following Tesco, Sainsbury and Marks &Spence, Debenhams is the latest high street retailer to enter into the financial services market.

From next month Debenham customers will be able to buy travel insurance as along side their normal purchases. The travel policy can be bought in stores, online and over the phone and offers a 10-day cover in Europe, including £5m medical expenses together with cover if a scheduled airline goes bust, from £15 per person or £30 for a family.

By the end of the year, financial services will be extended further to include home insurance, motor insurance and child trust fund. Once Debenhams have found their feet other planned launches include credit cards and personal loans. "This is just the beginning," says Diane Jackson, personal finance controller at Debenhams "Next year we will be launching a number of mainstream financial services products. We are not the first retailer to go down the financial services route, but we want to give our customers access to quality products at affordable prices."

The public's trust in the Debenhams name is being used to offer deals on a par with those available on the internet, where companies are not even known.
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