Banks Go Green

Banks Go Green

Friday 13th July 2007

UK Banks are trying to join in with other popular companies and organisations such as Political parties, oil companies, energy giants and retailers by trying to associate themselves with saving the environment.

A wide range of financial products including bank accounts and credit cards are being launched all with green incentives to help entice customers.

Big competitors in the financial playing filed include Barclaycard who recently launched their Breathe credit card with Barclays pledging to put 50% of the profits made from the credit card into initiatives aimed at bringing out a reduction in carbon levels.

Cards and products in the market however do come with higher rates of interest than their non green counterparts and Lisa Taylor from money facts a Financial information firm states that taking out expensive green products may not be the best way to contribute to the environment but instead suggests that "If people want to help with carbon reduction they should go for a marketplace best buy and give a little to charities in the sector."