FRAN
F
FREE
This account has no monthly maintenance fees and no minimum balance!
The number of POS swipes a member needs to have post and settle within the cycle to qualify for Kasasa Cash Back
15
This is the account recommendation for a member who typically keeps a balance less than $3000
Cash Back
Potential root causes for "I'd prefer paper statements"
Concerned about information security
Prefers a printed statement for record keeping
I don't know how to enroll in Estatements or pull it up when it's ready
How does the member qualify for rewards in Saver?
Simply qualify in the attached Cash or Cash Back account
R
REWARDS
This account rewards you with...
The number of POS swipes a member needs to have post and settle within the cycle to qualify for Kasasa Cash.
15
This is the reward for qualifying in Cash
The member earns 5.00% up to $25K, 0.50% above $15K, and up to $25 in ATM Fee Refunds
Potential root causes for concerns over having to qualify
Skepticism- sounds too good to be true. How can you pay these rewards out?
Why do I have to do all this to get the rewards?
I've had an account here for years, doesn't that count as a qualification
POS activity and ACH debit
A
ASK TO QUALIFY
To qualify we ask that you do a few simple things you’re probably already be doing.
This qualifier is in place to SAVE the bank money. Hint: it's electronic
E-Statements
Did you know a paper statements cost about $2.15 and an e-statement cost about 15 cents!
This is the reward for qualifying in Cash Back
The member earns 5.00% on debit card purchases up to $200 for a max reward of $10, and up to $25 in ATM Fee Refunds.
Potential root causes for not wanting to set up a Direct Deposit
Payroll Direct Deposit goes somewhere else
Self employed and don't receive Direct Deposit
Doesn't know HOW to switch their Direct Deposit
Company doesn't offer Direct Deposit
The account is still free and they will earn the base rate of 0.10% APY
N
NO PENALTY
No penalties for not qualifying! Your account is still free and you can try again next cycle
This qualifier is in place to create more engagement from customers, making it a stickier account
ACH Debit or Credit
This is what happens when the member does not qualify for rewards
The account is still free, they earn the base APY in Cash and Saver and hey can try again next month!
Potential root causes for "I don't use a debit card"
Concerned about safety or fraud
Prefers their rewards credit card
Prefers cash
Prefers to use cash for budgeting
Doesn't think they can use it 15 times
Doesn't understand how debit cards work
The rewards the member earns in their attached Cash or Cash Back account do this....
Sweep into the Saver account after first posting to Cash and Cash Back.
FRAN
Free, Rewards, Ask to Qualify, No Penalty
This qualifier is in place to MAKE the Bank money
POS Transactions
The bank gets interchange income from debit card swipes. National Avg is 34-38 cents PER transaction.
This is the reward for Saver. 100 bonus points for telling me HOW they qualifier in Saver.
The member earns 2.00% APY up to $100K, 0.50% APY over $100K.
This is the first step in handling an objection
Ask why to determine the root cause of the objection.
This is the reward for Saver.
The member earns 2.00% APY up to $100K, 0.50% APY over $100K.