Over half of all consumers prefer to use their debit card, and Choice Checking caters to this important audience.2 This account generates non-interest income, while empowering account holders with benefits that keep them loyal to your institution. Whether they pay the monthly fee or eliminate it using their debit card, Choice Checking account holders help drive your non-interest income.
The Basics
Choice Checking's unique benefits convert free checking account holders and increase your profitability.
The Benefits
- Increase non-interest income through interchange revenue or monthly fee
- Helps convert existing free checking consumers to a more profitable account
Case Studies
The Right Account at the Right Time
- Increase Non-Interest Income
Choice Checking's monthly fee can be reduced or eliminated through debit card purchases, empowering account holders to make the account free in any qualification cycle. Either way, the monthly fee or a boost in interchange revenue increases your non-interest income.
- Merchant Rewards
Unique among BancVue accounts, Choice Checking offers an online discount program with local area businesses. Account holders also receive online rebates with 150,000 national retailers, including: Walmart, Macy's, PetSmart, Apple iTunes, Blue Nile, Lane Byrant, LensCrafters, Omaha Steaks, Sears, StarbucksStore.com, and Gamestop. Merchant rewards are an added benefit that makes Choice Checking more attractive to your consumers.
- Identity Protection & Restoration
Fifty-four percent of consumers say that they would use their debit cards more if they came with fraud protection.3 We work around the clock to monitor up to six debit/credit cards and personal information provided by the account holder. All personal data is protected using state of the art encryption and all identity protection services are SAS 70 compliant.
If a consumer suspects his/her identity has been compromised, a Restoration Specialist is just a toll-free phone call away. These experts work diligently on behalf of the account holder until the issue is fully resolved.
- Training
BancVue training turns your frontline staff into experts on Choice Checking, and helps them deliver outstanding service. Through proven adult learning techniques, participants engage in material that helps them open more new accounts, while building solid consumer relationships.
1. Aite Group, LLC, 2010
2. Javelin Strategy & Research, 2009
3. Informa Research Services, 2009