The retailer is thought to have selected Clark McKay & Walpole and RMG Connect to pitch for the business. However, four agencies were originally approached.
The financial products are expected to be a partnership between the DIY retailer and HFC Bank, part of HSBC. CMW handles the direct marketing for HFC, whereas RMG Connect is the incumbent on B&Q's DM account.
RMG started working on B&Q in 2003, when its sister ad agency JWT took the account from Bates. It won a gold for its wage packet trade direct marketing campaign at the 2005 DMA Awards.
Among its recent work for the retailer was a mailpack containing a bag of sweets to soften the news that it was closing some local stores and to help make the longer journey to their next-closest stores more quickly.
As well as handling direct marketing for HFC, earlier this month CMW developed a new corporate identity for the bank's specialist lending operations.
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