HSBC first to bank on January sales

IAN LEGG: "We're very pleased with the outcome." Picture: MATT WALKER
IAN LEGG: "We're very pleased with the outcome." Picture: MATT WALKER

HSBC became the first high street bank to hold a January sale as it opened its doors to the public on a bank holiday.

Branches in Maidstone and Canterbury were among 90 opened on Tuesday, December 28 to meet what bosses expected to be an unprecedented demand for cash.

At the same time, it launched a package of banking and financial products it claimed could save the average person nearly £2,500.

Ian Legg, Kent area director, said the decision to open on a bank holiday had been fully vindicated by the large number of people who visited the branches in Maidstone and Canterbury.

"It was very successful and we’re very pleased with the outcome", he said. "Tuesday was well received by customers and non-customers. We had plenty of customers in both branches."

He said it was too soon to say whether the decision would be repeated next year. The results were being evaluated nationally.

Mr Legg added that bank staff - all volunteers - had talked to a lot of people about the bank’s national sales promotion campaign.

Existing and new customers were able to sign up for discounted mortgages, loans and insurance, credit cards, overdrafts, and high interest savings accounts.

Joe Garner, HSBC Bank’s head of customer propositions, said: "The January sale is a highlight of the retail calendar, so why not in banking too? Back in 1955 we were the first UK bank to advertise on TV, introducing the country’s first personal loans three years later and the first cheque cards in 1966.

"More recently, HSBC brought 24-hour phone banking to the UK in the form of First Direct (1989), introduced account opening guarantees (1994), and pioneered Islamic banking and mortgages (2003).

"Now we are modernising high street banking by breaking from the pack and opening on a bank holiday to kick-off a sale with genuine bargains when people most need cheaper finance."

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