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#2244169 - 10/16/20 05:54 PM Electronic Statements - Loans
Cowboys Fan Offline
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Joined: Dec 2002
Posts: 4,615
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We would like to increase customer acceptance of e-statements on the loan side. We've thought of adding a message to the bill reminding them that it's available (doubt most people would read it) or including a more targeted insert. Has anyone tried anything that produced some decent results? Thanks very much.
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#2244212 - 10/17/20 03:10 PM Re: Electronic Statements - Loans Cowboys Fan
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
Provide them a credit to their loan account for signing up - whatever you determine it would be worth.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2244224 - 10/19/20 02:09 PM Re: Electronic Statements - Loans Cowboys Fan
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Joined: Dec 2002
Posts: 4,615
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Thanks Randy. I assume the credit would require a 1099INT form if we opt for this?
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#2244225 - 10/19/20 02:13 PM Re: Electronic Statements - Loans Cowboys Fan
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
Not sure why - it is not interest. It would fall under a 1099MISC, but that has a $600 threshold for reporting.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2244226 - 10/19/20 02:16 PM Re: Electronic Statements - Loans Cowboys Fan
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Joined: Dec 2002
Posts: 4,615
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Thanks for clarifying.
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