Moneyway

Moneyway, formerly known as Secure Trust Bank plc, is part of Arbuthnot Banking Group plc. The company has a pedigree spanning more than 50 years and believes in traditional banking with old fashioned values.

One of Moneyway's key product offerings is OneBill - a unique money-management service which provides a simple way for consumers to manage their weekly and monthly outgoings. According to Jon Wilson, Head of Marketing from Moneyway, "We have circa 40,000 OneBill customers, who make one weekly or monthly payment to us, and from this we then pay and manage all their regular bills for them - it's a simple, single bill payment solution. In addition to covering outgoings such as mortgage, utility, energy bills, and council tax, customers can elect to save part of their payment in, what is effectively, a Christmas savings scheme."

"It's important for our customers to know that, by the end of the year, they will have a significant fund from which they can cover the expense of Christmas - from food and presents to decorations and even new products for the home. Importantly, they also know that their Xmas-savings are completely safe - as a bank, the funds are covered by the Government's customer compensation scheme."

In October of every year, Moneyway distributes the Christmas savings to its customers in the form of Love2shop - The high street gift vouchers. Typically each customer will have saved between £500 and £3,000 over a year. "Six years ago we undertook a major review of the gift voucher market, and identified Love2shop as the best possible 'fit' for our customer base. The voucher features over 75 leading high street brands, giving people the most comprehensive range of retailers from which to choose. With Love2shop - The high street gift voucher, consumers can cover the cost of everything associated with Christmas. Redemption analyses from Love2reward show us exactly where and when the vouchers are being spent, and from that we can see that Argos, Boots and Iceland are perpetual favourites. Regular customer satisfaction surveys also indicate that customers are extremely happy with the choice."

"We have seen an annual 10% growth in this product with our OneBill customers since the introduction of Love2shop - The high street gift voucher and, from experience, know that it also contributes to customer retention," Jon concludes.

Moneyway has taken the decision to extend its use of the gift voucher to include employee rewards and to recognise customer loyalty and, from recent research results Jon believes that the gift voucher is more effective incentive than cash.

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