Filling the Gaps in Reg E Communication

4/13/2010 - Surveys indicate that 30-47% of your overdraft fee income will soon be at risk. Now is the time to begin implementing an Opt-In strategy that will minimize customer service issues and lost fee income for the bank.

 

Most bank customers are unaware of the upcoming changes to their Overdraft services. As a result, most will lose these services on one-time debit card and ATM transactions because they don’t understand the implications of new Reg E laws ... or won’t bother reading the complex letter mandated by the government.

Core processors and Overdraft Protection providers are offering banks a host of solutions for complying with the federal government’s new Reg E laws, and collecting / managing Opt-In responses. However, these programs do NOT fully address the marketing issues facing banks. BLF’s proactive solutions will help you:

• Minimize fee income loss tied to one-time debit card and ATM overdraft services
• Improve your ability to effectively communicate the advantages of overdraft services on debit card and ATM transactions ... and Opt-In those who value the benefits
• Communicate with business customers regarding the potential liabilities, inconvenience and customer reactions to declined debit card transactions
• Achieve total coordination between the bank’s operations, training and marketing efforts

Click here to download our white paper. We invite you to review it and contact us regarding these time sensitive marketing and communication issues.