64%
higher growth rate for high-yield checking over non-interest checking.6
REWARDChecking Basics
Free checking with no minimum balance that pays CD-like interest and offers ATM fee refunds.
Benefits
- Achieve controlled account & deposit growth
- Twice as profitable as free checking
- Half the attrition rate of free checking
Compared to Free Checking
- 66% more REWARDChecking consumers accept e-Statements6
69%
of college students keep their current banking relationship after graduating.1
REALTunes Basics
Free checking with monthly digital download reimbursements, no minimum balance and ATM fee refunds.
Benefits
- Attract a younger demographic (Ages 18-35)
- Establish a consumer base for future growth
- Achieve profitability while offering rewards
- Differentiate your institution in the market
The Research
At over 70 million strong, Gen Y will largely define your future consumer base.
69%
of Americans are worried about financial security.3
REALSaver Basics
Free, interest-bearing account where REWARDChecking interest or cash back from REALCashBack is automatically transferred to help consumers save.
Benefits
- Attract those who want savings separated
- Increase products per household
- Reduce cost of funds with lower Saver rate
- Increase account opening; limit deposit growth if desired
The Research
20MM Americans feel they do a poor job of saving their money.7
79%
of people are more likely to buy products that support causes.4
REALGiving Basics
Free checking with no minimum balance that gives consumers interest and ATM fee refunds to keep, and part of every qualified debit card purchase to donate.
Benefits
- Attract charitable consumers
- Align with recognized charities
- Help your community by supporting up to two local charitable causes (e.g. places of worship)
High-Profile Partners
84%
of consumers rate cash back as their #1 preferred reward.5
REALCashBack Basics
Free checking with cash back, ATM fee refunds nationwide, no minimum balance to earn rewards, and optional automated savings.
Benefits
- Alternative to offering high interest
- Increase profitability vs. free checking
- Preserve existing relationships
White Paper
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All Products Include:
- MoneyView ®
Included with REALChecking products, MoneyView offers a rewards dashboard that empowers consumers to manage their qualifications and rewards in a mobile, desktop, or online environment.
Account holders can track their activity as it relates to each REALChecking account, helping to ensure that cost-cutting, fee-boosting qualifications are met. This gives you an unparalleled view of consumer spending habits and needs, resulting in higher profitability, increased acquisition, tremendous cross-sell opportunities and deeper retention.
- Messaging Service
MoneyView establishes a direct line of communication to your account holders with this built-in messaging system. This versatile tool enables you to deliver personalized communication: send happy birthday wishes, post your latest news, promote and cross-sell your products to generate non-interest income and more.
This feature also strengthens your account holder relationships, instilling a whole new level of trust and helping increase your share of wallet. With a direct line of communication not previously available to you, MoneyView's Messaging Service helps you reach out to account holders in a whole new way.
- Cross-Sell Opportunities
With clear visibility of each consumer's aggregated accounts, you can easily determine which of your products and services have the competitive edge over those provided by other institutions. This allows you to pinpoint your marketing efforts and cross-sell consumers the superior offerings you know they want.
- Training
Included free of charge, our proven training program prepares your staff to effectively sell your REALChecking accounts to consumers. With a level of enthusiasm rarely seen in our industry, BancVue trainers inspire your staff to reach greater heights.
Using tools like our e-learning modules we share and test product knowledge with each client's service representatives. From kick-off rallies, to on-demand product training and quarterly mystery shopping, our trainers will always help ensure your continued success.
- Consulting
When you partner with BancVue®, you are immediately paired with a dedicated consultant who helps configure your account rewards and qualifications to drive sustained profitability. Based on data generated from 1.7 million accounts per month, your consultant provides invaluable, ongoing monthly reports. He/she also conducts quarterly visits to provide additional insights on your performance.
In addition, BancVue regularly provides industry-related research reports based on extensive consumer data. For example, did you know that REWARDChecking has a 64 percent higher growth rate than other free checking accounts?
- Compliance
We understand the importance of peace of mind in this heavily regulated industry. Each REALChecking product comes with a compliance toolkit developed and reviewed by our compliance lawyers, as well as our expert in-house team. We also provide upfront tools and ongoing support to make sure you always meet industry compliance guidelines.
1.American Banker, 2007
2.Consumer Banking Omnibus, Goodmind™ Market Research, April 2010
3.A.G Edwards, 2008
4.Cone Corporate Citizenship survey, 2007
5."Checking Under Pressure", Informa Research Services/Novantis LLC, 2009
6.Aite, 2011, based on performance of 120 BancVue clients over 24-month period (May 2009 to April 2011)
7.Simmons 2008