Price comparison site accuses NAB ads of ‘hypocrisy’
A price comparison site has issued a press release in which it accuses NAB’s latest ad campaign of hypocrisy.
In the release, Mozo boss Rohan Gamble called the campaign “outrageous”.
He said it showed “a disconnect in communication between product and marketing teams – or ‘middle middle middle and upper middle management’ as their latest advertising campaign points out.”
Gamble said: “NAB’s credit card and savings account ads clearly state in the terms and conditions that the offers are not available to existing customers. This is outrageous advertising and misleading for consumers. How do they know how to depict these scenes so well, hey?”
Gamble pointed to figures available on Mozo on NAB’s savings accounts and credit cards as evidence.
In a statement sent to Mumbrella, NAB responded:
NAB has led the industry in making banking fairer, having abolished the most disliked bank fees for both new and existing customers, including:
- home loan early exit fees
- monthly account keeping fees on its most popular everyday banking account
- overdrawn fees on all personal accounts
- credit card overlimit fees (and slashing late payment fees to $5)
NAB has also had the lowest home loan standard variable rate of the major banks for 32 months, which it has committed to maintaining for 2012.
When considering NAB promotional offers, customers can be confident they will be getting a fairer deal – now and ongoing.
No bank has done more for competition than NAB and we will continue to highlight the excuses the other major banks are making for not doing the right thing by their customers.
In November, Bankwest jumped on the NAB ‘Break Up’ campaign with a tactical print ad that attacked the bank’s rate cuts.
Despite increased name calling between themselves, the main banks continue to rort the consumer.
Well done Mozo for pointing this out.
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NAB’s campaigns attempt to differentiate themselves from the other 3 big banks don’t work for me because they never deliver.
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