Financial services provider attacks graduate banking bias

Fri, 01 Jun 2007

Young professionals may be interested to learn that a financial services provider has criticised the big four banks for a perceived bias towards graduate banking customers.

Helen Palmer, current account manager at Alliance & Leicester, has launched the attack following the launch of a new graduate-only banking service from financial services provider NatWest.

Commenting on the new banking package, Ms Palmer contended that the UK's four largest banking institutions have a "tendency" to offer financing incentives to university alumni that are not made available to people who turned down the opportunity of higher education.

Explaining her stance, she claimed that it is "all well and good" for certain financial services providers to offer superior lending rates to graduates.

"But we believe it is also essential for banks to recognise the needs of those between the ages of 16 to 21 who make the decision to start earning," she said.

The academic year is currently nearing an end for many students in higher education.

As such, they may wish to take the opportunity to review their financing situation and compare the market for more attractive banking solutions, just like their peers in full-time employment.

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