Coventry Building Society is giving customers the ability to compare its savings accounts with competitor products on its own website – the only major UK savings provider to do so.
Customers can compare similar products across the whole of the market – on areas including the interest rate, the amount they can save and how they can operate the account – using independent data from Moneyfacts. There are also links to best buy tables from three well-known comparison sites.
Plus, visitors to the site can choose to see the interest they would earn on the Society’s savings accounts in pounds and pence throughout the site, personalised to the amount they are investing. The Coventry is again the only major UK savings provider to do this. It also has a whole new look and is much easier to navigate – particularly on smartphones and tablets.
Mark Parsons, Chief Executive at Coventry Building Society, commented: “Customers have told us that they want simplicity and transparency from their bank or building society and we’re proud to deliver the tools they said they would value most highly”.
“Our new product comparison tool is unique amongst major UK savings providers. Customers can see exactly how our savings accounts measure up against the competition on the things that matter to them. If a competitor’s account offers a better deal for them, they’ll be able to see that straightaway. We’ve also provided customers with a link to best buy tables, if they would rather check with a different independent source.”
“Some customers have also told us they don’t understand AER. We’re giving them the option to see what interest they would earn with our savings accounts in real terms – pounds and pence instead of percentages.”
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