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Checking Account Shoppers Sacrifice Features For Fewer Fees

Rob Rubin, Novantas Managing Director, writes a weekly column for The Financial Brand

Consumers like to holler about all the features they want their checking accounts to have. But when they finally pull the trigger and make the switch, it’s fees that wind up driving their decision.

To understand the trade-offs shoppers make when choosing a new checking account, we analyzed to what extent accounts selected on FindABetterBank met shoppers’ feature requirements, and estimated the annual fees for those accounts. We found that many shoppers will trade-off feature requirements for accounts with lower fees. (FindABetterBank is a research tool designed to help consumers find new checking providers by providing apples-to-apples comparisons of accounts, based on people’s banking behaviors and desired features.)

Read the full article at The Financial Brand…

For more information, contact Novantas Marketing

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