You'd think consumers who go for bank promotions might be your stereotypical deal-seekers and bargain hunters. But you'd be wrong…
In the last year, the percent of smartphone owners making mobile payments grew by 36%.
When consumers look for new a bank, they consistently pick institutions with branch and ATM locations near where they work or live.
Are reloadable debit cards a viable alternative to checking accounts? Or are they a solution for the unbanked? Here's what the data says.
48% of consumers looking for a new checking account eliminate at least one institution. Why? Four out of five cite a previous bad experience.
44% of all shoppers looking for a new checking account want email alerts. The pickier the shopper, the more they want email alerts.
The banking industry usually segments based on income, but age is a better predictor of checking account choices, behaviors and profitability.
Financial shoppers that aren't particularly interested in any specific account features are most likely to choose a regional bank.
Reloadable debit cards are an alternative for those consumers who don't write checks.
Small institutions must promote surcharge-free ATM access to meet consumers’ demands, and should consider ATM fee rebates for high value customers.
A lucrative segment of consumers wants free checking and savings, but many banks are killing these services. Are they shooting themselves in the foot?