Santander Files A Complaint Against Nationwide Branch Jibe Advertisement
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Santander has reportedly filed a complaint with Britain’s advertising regulator against a Nationwide advertisement campaign. The firm claims that the advertisement denigrates and dishonors the high-level street banking division.
In the latest report, the company sent a message to the Advertising Standards Authority about this case. It claims that the TV commercial featuring Dominic West, who acted as a conceited bank boss, was deceptive about its adversaries’ approach to closing branches.
ASA Has Not Responded To Santander’s Complaint Issue
Santander complained immediately after Nationwide’s commercial ended, though, it hasn’t reached the public, and the ASA has not decided on the issue.
With no response yet from the ASA, Nationwide has revealed its plan to release a second TV advertisement soon. This will point more directly to the claims that banks are less concerned about their customers.
British banks have shut down many of their branches in recent years. This is because customers are restrained from banking at these branches. Although Nationwide is still on its game, dedicated to keeping its system intact, the firm has also closed branches.
Santander is at the center of this controversy. Together with Lloyds Bank, both firms were accused of keeping accounts for industries that supported Iranian entities in disregarding US sanctions.
According to some documents by the Financial Times, a Petrochemical Commercial Company (PPC) was suspected of transferring funds through a business account based in Santander. The report also revealed that the firm used a front company which was registered to a separate building in Surrey, to complete this mission.
Santander Retains 14 Million Active Members On Its System
The state-controlled Iranian firm has been accused of providing huge funds for Iran’s Guards al-Quds Force and also working together with Russian agencies. The US government placed sanctions on PPC together with its British subsidiary in November 2018.
British bank, Santander is maintained by a Spanish Santander Group. The firm controls its affairs independently. Its management team is solely responsible for its functioning.
Santander is known to be among the top financial services in the UK. It is also among the UK’s largest savings and mortgage providers. It has about 20,000 workers, 64 corporate business centers, and 14 million active users.
Established in 2010, the bank has its main office in London The charitable departments of Alliance & Leicester, Bradford & Bingley, and Abbey came together to launch the Santander Foundation.
