In light of fees being issued by other large banks, such as Abbey National, on customers who use another bank's ATM, Royal Bank of Scotland (RBS) is aggressively marketing its free service on its cash dispensers.
The intensive ad campaign is an effort by RBS to boost its customer base by highlighting the fact that other banks charge consumers to get their money from ATMs. RBS plans to use direct response ads in national and regional publications and radio commercials to drive home its message.
"We are making capital of the situation in the market at the moment by convincing customers of other banks to come to us if they don't want to pay money to get to their own cash," says RBS retail product director, Ian Stuttard.
RBS hopes customers will pursue its other products once they switch their current accounts over as a result of the campaign.
The campaign will initially run for two weeks after which it will be reviewed to weigh any developments in the market.
"If the other banks change their minds, like Barclays has about charging for its own ATMs, then we will modify the campaign. But if this practice carries on, we will continue to turn it to our advantage," adds Stuttart.
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