Best Practice Playbook
Motivating someone to open a checking account with your institution requires a lot to go right. When you succeed, it's tempting to call it a win. In reality, what you've earned is the opportunity to make money or lose it. There is a lot at stake.
However, there is good news: If a checking account holder considers your institution to be their primary provider, they're four times more likely to turn to you when additional financial needs arise and will deliver an average of $212 in incremental profit each year.
Success or failure to earn primary Fl status will depend on what your bank or credit union does immediately after a new checking account is opened.
In this Best Practice Playbook, we share advice and strategies for turning new checking account openers into engaged, long-lasting, and profitable relationships.