A SURVEY of financial wellbeing released today has given the first five star rating to a bank’s product since it began in 2010.
Research by the Fairbanking Foundation, which looks at savings accounts, currents accounts, credit cards and personal loans, gave RBS and NatWest’s instant saver with savings goals a five star rating, the first awarded for any product in the survey’s three year history.
David Crawford, head of saving at RBS and NatWest, said: “We’ve been working hard to better support our savers and I’m pleased that customer feedback shows we have helped so many achieve their savings goals.”
Barclaycard has been granted the best rating for a credit card, achieving four stars, after taking the top spot in 2011 too.
For personal loans, Santander won the top spot.
Antony Elliott, the Fairbanking Foundation’s CEO, said that there were visible improvements since the first survey was conducted in 2010: “We have solid evidence now that our efforts are serving their purpose and that banking providers are increasingly keen on improving the extent to which their products help their customers.”