Director Jorge B. Jensen of the Consumer Council suggested that if everyone had chosen the bank that provides the best conditions, instead of the bank they use today, there would be a total of 10 billion NOK in savings.
Jensen points out that certain benefit packages include products and services that many customers do not need. An example is the program for students: the student account holders have access to discounts on both credit cards and consumer loans. This is not always what students need.
Use Multiple Banks
The council also suggested that bank users should go to finansportalen.no to compare products and prices on a range of financial services.
«Taking of the charts in finansportalen.no, you will see that there are different banks that are best for everyday banking, mortgages and savings. Therefore, you may earn money from share investments in several banks and insurance companies,» says Jensen.
Moreover, Jensen claims that such fragmentation does not necessarily entail a more complicated financial life, with more administrational tasks for the individual.