The contrast with NatWest could not be more striking after the bank announced that it was scrapping its 5,000-strong perk fleet and moving its fleet department, Group Vehicle Services, into British Car Contracts, part of the bank's Lombard subsidiary. Two years ago NatWest introduced a cash alternative to the company car. That has been taken up by 2,000 drivers, with one third using the money to source a car through the bank's free choice in-house leasing scheme.
Perk drivers will now be unable to replace their company cars when they come up for renewal, and instead will receive cash compensation of between £3,600 for middle managers rising to £7,500 for senior executives. But 2,000 essential car users who cover more than 15,000 business miles a year will continue to receive an orthodox company car.