17 October 2017
Find out more

ASA rules in favour of First Direct in IF ads row

13 November 2002  |  3387 views  |  0 ASA rules in favour of First Direct in IF ads row

UK direct bank Intelligent Finance has been rapped over the knuckles by the Advertising Standards Authority for making misleading claims about its market share credentials.

The ASA adjudicated in favour of rival bank First Direct, which had complained about an IF newspaper advertisement headlined "Now the No1 direct bank in the UK".

IF made its claim on the basis of net mortgage lending figures and account openings published in direct banking league tables for 2001. However, First Direct objected to the claims since its figures are not published seperately from parent bank HSBC.

In its adjudication, the AFA states: "The advertisers had not made clear that the claim "Now the No1 direct bank" related to those telephone, Internet or postal banks that did not have a branch network and whose asset balances were published as separate and identifiable items in the parent company's annual report."

It concluded that the comparison was not clear and fair and has asked IF to refrain from repeating the claim unless it holds documentary evidence to back up its case.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.capgemini.com Register now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14484 views comments | 11 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13089 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
8976 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
7940 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7623 views comments | 13 tweets | 13 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job