Danske Bank leads the way with new reward account

In a move designed to take the switiching battle to national players such as Santander and Halifax, Danske has confirmed that it will begin offerign new and existing customers the new incentive scheme in the next few weeks.

The Danske Cash Reward account will have an annual fee of £24 (£2 per month), with customers able to claim a full year cash reward of £84 (£7 per month). The account will also offer a £100 interest and fee free overdraft facility.

While the Danish owned banks has a strong commericil and mortgage business, like others in the province it has lost a steady stream of personal customers to other firms offering a varieyt of incentives.

“We have a strong focus on improving customer experience at Danske Bank, and this new account will provide our customers with the additional choice and value that many of them have told us they would like to see,” said Tony Wilcox, managing director of personal banking.

“It will add to an already attractive overall customer offering that includes a range of competitive products, a large local branch presence, flexible opening hours, a strong focus on service and market leading digital platforms.”

John French, Chief Executive of the Consumer Council, said: “The Consumer Council continues to encourage all consumers in Northern Ireland to shop around for a bank account that is right for their needs and provides them with the best overall deal. Danske Bank’s new reward current account provides consumers with additional choice.

Switching bank accounts is quick and hassle-free. Consumers can get a copy of our guide to switching their bank account at www.consumercouncil.org.uk, by contacting us on 0800 121 6022 or via Facebook or Twitter.”

To be eligible for the reward, customers must log on to eBanking each month, have three direct debits per month from the account and lodge a minimum of £1,200 per month into it.