ASA probes NatWest MoneySense advice

13/05/2009

The Advertising Standards Authority (ASA) has launched an investigation into NatWest's MoneySense offer, following claims that it was not providing impartial advice as promised.

Customers were shown receiving unbiased financial advice on savings and mortgages in promotional material for the programme.

However, an undercover probe from consumer group Which? revealed that only NatWest products were being sold at some MoneySense sessions.

Just four in 20 sessions were found to be truly unbiased.

For its part, the ASA confirmed that it had received 15 separate customer complaints about the service.

Which? personal finance campaigns manager Doug Taylor said: "This would be an invaluable service if NatWest was always actually delivering on its promise of free, impartial financial guidance.

"However, it is being let down by the poor standard of at least some of the service being delivered."

Tags; Debt Management and Banking, Young Family Finances, Retirement Money Problems, Recent Graduate Debt,

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