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Expect a reduction in short-term deposit balances for most of 2010 as long as these deposits yield a net negative return when adjusted for inflation.
Developing primary relationships requires more than customer incentives and new product features. For many banks, the key is improved customer onboarding.
While new regulatory restrictions on overdraft charges may force large banks to abandon free checking, the product remains a competitive differentiator at community banks.
The first half of this year is likely to provide banks with an opportunity to moderate deposit pricing – but watch out if inflation perks up!
As overdraft fees recede, so too must the subsidies hidden in the “free” checking account. What kinds of fees will customers accept as an alternative?
Despite its negative reputation, overdraft protection is a customer-friendly service and its flaws can be fixed without additional legislation.