STATS
- The annual cost saving generated by check truncation is expected to reach $1.2 billion.
Celent Communications Report: "The Check Stops Here: The Forces Moving Check Truncation to the ATM", ATM Marketplace.com
- Customers with home equity accounts are much more likely to do larger remodeling projects such as a new kitchen or home addition. Those without home equity undertook smaller projects. 49% of those with home equity accounts will spend more than $10,000 on a project. Only 29% of those without the home equity or line of credit will spend that much.
Market Pulse (SM) Survey by IBT, Georgia, PR Newswire 10/04/04
Web site: www.ibtsource.com
- 66% of account holders use the ATM at their primary branch. 61% use the drive-thru there. 4% use the ATM at the grocery store.
Ibid.
- 36% of financial institution depositors use Internet banking an average of 3.8 times per month.
Ibid.
- 9 out of 10 consumers prefer to bank near their home, rather than near their work. But 83% said they did not learn about any new products or services during their last visit inside the branch.
Ibid.
- The most popular feature about their primary branch was "Friendly Service"(50%); followed by "Quick Service"(37%); and "Helpful Employees" (24%).
Ibid.
- Less than 2,500 of the more than 18,000 financial institutions in the U.S. have formal overdraft programs. This type of program reduces item processing by 10% to 30% and improves non-interest income.
John M. Floyd & Associates, Inc. of Houston, 10/04 Web site: www.jmfa.com
- NSF charges now range from $17 to $35 - average in 2003 was $22.50. Studies claim the average accountholder writes about 3.4 NSF items per year.
Ibid.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 10, 12/04
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