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#12469 - 08/20/01 06:03 PM Prize Contest

My bank is having a giveaway for customers and non customers where they are allowed to pick a toy out of a box and depending on what is color coded on the bottom, they can win a free order of checks (15.00 value), 3 months free bill pay (18.00 value), $10 off interest payment on any loan, fee free travelers checks, ($5.00 or $10.00) deposit to an account at our bank, free coffee cup, etc. I don't believe we are in violation, but any and all opinions would be appreciated.

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#12470 - 08/20/01 06:30 PM Re: Prize Contest
MoneyMaker Offline

100 Club
Joined: Dec 2000
Posts: 215
Atlanta, GA USA
Don't believe you are in violation of any laws but not sure why you're doing this. Are you trying to bring current customers into your bank lobby? Do you expect non-customers to come into lobby to try and win something and then you sell them? If you're trying to reward customers with goodies, I question the value of at least your samples noted. Sounds a little trival. Guess there would be no harm in playing this little game. Just seems like better things could be accomplished with this energy and cost.

Short cuts to bank revenue growth and higher employee happiness.

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#12471 - 08/21/01 12:23 AM Re: Prize Contest
Andy_Z Offline
10K Club
Joined: Oct 2000
Posts: 27,715
On the Net
I believe you'd be OK too. Keeping cash at $10 and under is IRS friendly and the waiver of a fee on those items >$10 will also keep you out of trouble.

Andy Zavoina
Opinions stated are not necessarily that of my employer.

My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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