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News : Branchless Bank Launches in Wolverhampton
Wolverhampton, West Midlands, Jan 16, 2015 -- Charter Savings Bank is being launched at Wolverhampton Business Park, near junction 2 of the M54. It is part of Charter Court Financial Services which employs 250 people.
The bank, which is set to be running by the end of March, will offer instant access and longer term savings accounts as well as savings bonds.
But it will be online and call centre only, open seven days a week.
It will mean a bank based in Wolverhampton, rather than the City of London.
Ian Lonergan, chief executive of CCFS, will take overall control of running the new bank.
He said: "We see the development of a retail banking proposition as a logical extension for our business, enabling it to diversify into new markets and build a sustainable and competitive business model for the future.
Paul Whitlock, formerly director of savings at Shawbrook Bank, has been appointed director of savings. He said: "We will bring competitive rates and excellent, reliable service to a customer base which has too often been taken for granted by high street banks. A significant number of savers are dissatisfied and feel unrewarded in today’s economic climate and we intend to provide new options that meet their needs.
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Understand Your Business
Published: Monday, January 19, 2015