NatWest option has no banking benefits, Experts advises

Thu, 03 Aug 2006

NatWest's new Advantage Blue current account has no "banking benefits" to customers, according to an expert.

The account, which includes a range of additional products such as insurance packages and entertainments tickets which can be included, does not save customers money, the analyst has stated.

Nick White, head of personal finance at uSwitch has made the comments following the launch of the new banking product.

uSwitch provides customers with advice on a range of financial services, such as credit cards, personal loans and mortgages.

Mr White comments: "The association of this offer with a bank account is a loose one, as there are no banking benefits associated with the package.

"NatWest claims Advantage Blue is a ‘money-saving’ product, but what I’m certain of is that there won’t be much of that going on."

NatWest's Advantage Blue account, which is available for 18 to 25-year olds, is described by the company's marketing director as a "truly unique" banking option for young adults.

The product offers a package of benefits which officials state will save customers £210.

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