How Advertising Helped a Building Society put an end to a Banking Monopoly

Caroline Scott

Reports the campaign to launch FlexAccount, a new type of current account with which a building society, for the first time, competed with the banks.
Agency: Butterfield Day Devito HockneyAuthor: Caroline Scott

Nationwide Anlglia Flexaccount

How Advertising Helped a Building Society put an end to a Banking Monopoly

In May 1987, Nationwide Anglia launched a full current account complete with cheque book, cheque guarantee card and overdraft facility. They were the first building society to take advantage of the greater competitive freedom granted to building societies by the passing of the Building Societies Act in 1986. A year later, they have achieved a base of more than 500,000 FlexAccounts, and at current growth rates should open their millionth account before the end...

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