As a Deposit Strategy, ‘New Money Only’ Rate Offers Are a Poison Pill
Banks and credit unions looking to attract and retain deposits have better options than 'new money only' rate offers that undermine longstanding relationships.
Articles about checking accounts and how banking providers grow deposits, including topics like digital account opening, debit cards, overdrafts and fee income.
Expanded cashback and rate incentives aim to lure new customers and build deposits at manageable cost.
Banks and credit unions looking to attract and retain deposits have better options than 'new money only' rate offers that undermine longstanding relationships.
A Gallup poll found that half of American consumers are concerned about the safety of their deposits in the bank. But there's more to it.
Learn the impact of aligning data, marketing, sales, and CX, and how consumer expectations are rising as our world becomes digital-first.
What free gifts are helping banks and credit unions attract new checking accounts these days? Here's a gallery of giveaways from across the country.
Cheap deposits? That would be great — but being able to hold onto deposits takes higher priority now for financial institutions.
With switching so frictionless, banks and credit unions can no longer rely on inertia or inconvenience to keep direct-deposit relationships.
In the first three months of 2023, some credit unions and community banks have seen their delinquency rate increase up to 3x.
Banks and credit unions are vying for consumer deposits and the heated competition is likely to rage on for years.
Financial institutions must use relationship banking to retain depositors now. Relationships are the antidote to price competition.
Online bill payments are rising. Banks and credit unions should make this service — which drives loyalty — central to customer interactions.
Challenger and digital-only banks are offering higher yields on savings and deposit accounts, which is proving to be painful for traditional financial institutions. Here's how legacy banks can get ahead, says Kasasa's executive strategist Ryan Walker.
High-yield reward checking accounts that have a cost-of-funds discount built in could prove to be a key strategy for rising rates.
Financial institutions can leverage the FedNow® Service to build instant payment solutions that consumers and businesses are demanding. See real-life use cases in this video.
YouGov surveyed thousands of Americans to understand which banks are attracting new customers and whose clientele are the most satisfied. Download the report.
Read More about YouGov US Bank Rankings 2024: Satisfaction & Switchers
It's possible to avoid engaging in a rate war to retain deposits as competition gets fierce, and one community bank offers proof.
This credit union is making a huge gamble axing fees based on a deep analysis of its customer data. Here's why the CEO believes it'll win.
Cash onboarding bonuses are popular at big banks like Chase. But experts advise caution for most financial institutions. Here's why.
With nonsufficient funds fees under pressure, what strategies are helping community banks grow fee income in consumer-friendly ways?
Friction leads to high abandonment. One way banks and credit unions can improve digital onboarding is to streamline the experience.
The modern consumer doesn't like fees, but they'll sign up for multiple digital subscriptions. Should banks and credit unions follow suit?
Three major factors are driving down noninterest income for banks and credit unions. Understanding them is key to managing their impact.
Hefty bank overdraft and NSF fees are on the way out, leaving community banks and credit unions scrambling. Here is how some are pivoting.
This guide to the free checking accounts of Bank of America, Chase, Citibank and Wells Fargo is a competitive resource for other banks.
Big changes to NSF and overdraft fees put community and regional banks in a tough spot, impacting both revenue and technology budgets.
As your financial institution prepares for the impending Great Wealth Transfer, ensuring that your digital strategy appeals to younger generations is essential.
Read More about Key Digital Imperatives for Gen Z and Millennials
To achieve your growth goals in the year ahead, you'll need to find big ideas and unleash new innovations. But you should start building your budget here first.
Read More about One Thing Every Financial Marketer Must Put in Their Budget Right Now