Lansons replaced Freud Communications last year (PRWeek, 10 February 2006), less than a year after Freuds won the account.
RBS confirmed it was reviewing the agency situation and that there was no agency currently working on the account. The lack of agency support coincides with speculation over the future of the One Account scheme. City sources are suggesting the scheme could be phased out to be replaced by a similar product linked to Natwest.
The One Account pioneered ‘offset mortgages' in 1997. They work by effectively grouping customers' accounts, so cash left in their mortgage account at the end of the month is used for greater repayments.
The One Account brand was conceived as a joint venture between Virgin Direct (Virgin's financial services company) and
The Royal Bank of Scotland in 1997. Last year RBS, which took full control in 2003, was looking for an agency for five of its brands but insisted the review would not affect Lansons.