"Today Most Consumers Are Not Comparing Their Bank to Other Banks"

This quote comes from research by Accenture reported in the American Banker today, and shows two key findings that checking account marketers should note:

• Consumers use multiple payment methods today with many settling to the checking account as ACH diminishing the bank checking account’s revenue, relationship value and payment relevance, and

• Consumers as a result compare their bank checking account to non-bank payment companies and services like PayPal, Amazon and GoBank.

Rather than focusing just on “accounts,” savvy checking marketers are focusing on the revenues and relationships from payment strategies within the checking account, such as the PaySound^® Checking Plan or Companion Card.