Charter Court Financial Services launches new challenger bank

Charter Court Financial Services has been granted a licence to launch a new challenger bank in the UK. Charter Savings Bank will be an online and telephone-based operation offering competitive rates across easy access, notice and fixed rate savings accounts. The new bank is covered by the Financial Services Compensation Scheme, which guarantees eligible customers’ deposits up to £85,000. Paul Whitlock, formerly director of savings at Shawbrook Bank, has been appointed director of savings at Charter Savings Bank. Whitlock says “We will bring competitive rates and excellent, reliable service to a customer base which has too often been taken for granted by high street banks. A significant number of savers are dissatisfied and feel unrewarded in today’s economic climate and we intend to provide new options that meet their needs.”

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