Every financial institution needs a special acquisition product to help attract and cross sell prospects. For Arizona Bank & Trust (Phoenix, Arizona), a free checking with e-statements product is pulling in the most new customers.
If you want to acquire new checking accounts, sometimes you have to put your money where your wallet is. That’s what Union Bank & Trust (Richmond, VA) is doing with a $100 cash bonus for personal checking accounts.
Today’s consumers have many choices when it comes to checking accounts. Because of this, some institutions do an internal audit of their entire checking account line-up every six months, looking for ways to do it. During this audit, officers look at total accounts, growth rate, expenses, and profits for each checking product they offer.