Why Well-Heeled Consumers Give Banks The Boot
Many banks and credit unions provide fat-cats with personal banking services that regular Joes don’t receive. So what makes affluent consumers switch?
Articles by Rob Rubin
Blind Rage Has Left the Building
If consumers hold a grudge against financial institutions for the Great Recession, think again. Big national banks are winning the word-of-mouth referral race.
People Love Free ATMs (and What Small Banks Need to Do)
Small institutions must promote surcharge-free ATM access to meet consumers’ demands, and should consider ATM fee rebates for high value customers.
Profitable Depositors Expect Free Services That Banks Are Eliminating
A lucrative segment of consumers wants free checking and savings, but many banks are killing these services. Are they shooting themselves in the foot?
Grandma Wants Online Billpay
Seniors want online banking and bill pay, but the mobile channel is still reserved mostly for young whippersnappers.
August Is The Best Time to Market Student Checking Accounts
Student checking accounts peak in late summer. Help students avoid fees and you can open more accounts before kids go back to school.
Bank Switchers, Branch Locations and ‘The Five-Mile Rule’
Over half of people shopping for a new bank only want ones within 5 miles. But, one segment doesn't care if they have to drive 50 miles.
Top 10 Reasons Consumers Decide to Switch Banks
Bank Transfer Day whipped consumers up into a mob, turning fees into a hot-button issue. But fees don't torque consumers like they once did.
People Most Likely to Overdraw Bank Accounts Aren’t Who You Think
You'd think that people with the lowest average balances are those who overdraw their accounts most often, but that's not the case.
Rewards Checking Accounts Help Small Financial Institutions Compete
A handful of small institutions offer “rewards” checking accounts, yet these accounts over-perform because consumers choose them more often.
Customer Use Other Bank Channels Because Online CX Suck
Online shoppers perfer to open DDA accounts in traditional channels, but bad online experiences contribute to their multichannel behavior.
Why Gen-Y Opens Accounts In Branches And Not Online
Financial marketers often assume Gen-Y is the most likely segment to open checking accounts online. Turns out that's not true, and here's why.
Bank Switchers Who Love Checks Willing to Pay More Fees
Among consumers shopping around for a new checking relationship, those who still love checks opt for premium accounts.
Big Banks Surrender Mass Market Consumers To Other Institutions
It’s clear that without free checking products, big banks are pushing many mass market shoppers to other institutions.
Big Bank Customers Pay For Branch and ATM Convenience
Most national banks have killed free checking because people will pay fees for branch convenience. Are they setting the trend?
Banks and Credit Unions Are Winning Mobile P2P Users
Many traditional financial institutions offer mobile peer-to-peer payment services, but do a poor job marketing it.
Banks and Credit Unions Must Get Into the Mobile POS Game Now
New tools and solutions could marginalize financial institutions if they don't figure out mobile point-of-sale payments before it's too late.
Consumers Assume Mobile Banking Bill Pay Is Fast, But It Isn’t
Banks offer expedited bill payment services through their online banking systems, but not their mobile banking apps?
Bank Switchers Insist They Must Have Branches
Consumers actively searching for a new banking provider still feel strongly that branches are an essential component in their' switching calculus.
Few Bank Shoppers Say Mobile Check Deposit Is A ‘Must Have’
When switching their primary banking provider, only 8% of shoppers indicated they must have mobile check deposit.
Online Banks Losing Their Shine, Consumers Shun Them In Searches
Consumers are excluding online banks from consideration at an alarming rate. Will that trend continue into the next decade?
Mobile Tools, High Fees Quash Demand For Overdraft Protection
A combination of mobile banking and high fees and conspired to lower consumer demand for overdraft protection services.