Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Marketing CD with bonus rates
Thread Options
#145975 - 01/06/04 09:08 PM CD with bonus rates
Anonymous
Unregistered

The marketing department wants to adveritise for CD's with rates that can vary depending a number of other deposit services the customer has or opens with the bank. They want to advertise the highest possible rate..is that ok?

Return to Top
Marketing
#145976 - 01/07/04 04:27 AM Re: CD with bonus rates
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
As long as there are clear and conspicuous disclosures with reference to the requirements for achieving the highest rate.
_________________________
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


Return to Top
#145977 - 01/07/04 07:13 PM Re: CD with bonus rates
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,659
Florida
You may want marketing to analyze or put some restrictions. If for example, the customer had a single $50M account, and the rates were based on the number (rather than dolar) of accounts, he could have the bank open up 10 at $5M each. Account splitting is not the way to go, and should be accounted for.
_________________________
Integrity. With it, nothing else matters. Without it, nothing else matters.

Return to Top
#145978 - 01/08/04 04:27 PM Re: CD with bonus rates
PABanker Offline
Gold Star
PABanker
Joined: Dec 2000
Posts: 491
Blue Ball, PA 17506
Plus defining what the other deposit services are used for this promotion would be a good idea.

Return to Top

Moderator:  Andy_Z, MoneyMaker