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Do You Know Why Consumers Really Shop for Checking Accounts?

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

Switching banks is difficult for most consumers. Why? Completing the switching process requires untangling automated transactions (e.g., ACH’s, online bill pay) and re-establishing those transactions at a new bank or credit union. For many consumers, the process is too time-consuming. Others are concerned they’ll miss an important payment. Consumers that live paycheck-to-paycheck don’t have enough reserves to fund both accounts for as long as it takes to switch everything. The result? Inertia.

Read Rob Rubin’s full article here…

For more information, contact Novantas Marketing

+1 (212) 953-4444