Santander UK has filed a proper criticism with promoting watchdogs over a Nationwide marketing campaign which “discredits and denigrates” Britain’s excessive avenue banking business.
Sky News has learnt that the Spanish-owned lender has informed the Advertising Standards Authority (ASA) that the Nationwide tv business – that includes the actor Dominic West as an smug financial institution boss – is deceptive about its rivals’ method to closing branches.
The criticism was filed throughout the autumn, quickly after the constructing society marketing campaign launched, in line with insiders, however has not been publicly disclosed.
The ASA has but to adjudicate on it.
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It is comparatively uncommon for British banks to formally complain to the ASA about one another, and is much extra frequent in industries resembling meals retailing, the place the large grocery store chains have typically objected to pricing claims made by opponents.
City sources stated {that a} second TV advert from Nationwide would air within the coming days that may be “even more pointed” in highlighting the suggestion that banks have little regard for his or her prospects.
British banks have closed hundreds of branches lately amid declining utilization amongst prospects, however Nationwide – the nation’s largest constructing society – has pledged to maintain its community intact.
The ASA declined to establish Santander UK because the complainant however stated: “We’ve acquired a criticism about this advert from Nationwide.
“The complainant argues that the ad is misleading around other banks closing branches, and discredits and denigrates its competitors.”
Santander and Nationwide each declined to remark.
Source: information.sky.com”