Why
% of new checking accounts opened at Fintechs in 2024
44%
True or False: everyone gets the rewards in Kasasa accounts no matter what
False, only those qualifying
The qualifying product design on Prestige Plus
5.00% up to $25,000 and 0.50% above cap
What does FRAN stand for?
Free
Rewards
Ask to Qualify
No penalties
How much I get back in ATM fee refunds
$25
What can you get at a community bank that you can't at a mega or Fintech
the human connection...You
The # of POS transactions to post and settle to qualify
12
The qualifying product design on Cash Back
5% up to $200; $10 max
What should you do when you get an objection?
Ask why. Get to the root cause of the concern before offering a rebuttal.
These two products are the primary drivers for deposits
Prestige Plus and Saver
Why do community banks matter to their communities?
They put money and support back into the communities
This saves you $2/acct/mo
eStatement
The qualifying product designs on Eats and Play
$20 on Eats and $10 for Play
Reasons why Simply Saver should be added to every account?
- Higher avg. balances
- More POS
- Deeper product penetration
- Stays on avg. 2-years longer
This is the primary driver for NII and engagement
Simply Cash Back
Why are these accounts good for the consumer?
Free and rewards
This creates stickiness
ACH/DD
True/false: The Eats and Play refunds are for transactions with any food or streaming service?
False: Only for transactions at the approved partners
Why is this program a Win-Win
Rewards consumers
Makes or saves the bank money
- higher avg. balance
- younger
- more POS and eStatement adoption
- stickier
- deeper product penetration
-longer life-span
What happens if I don't qualify?
It's still a free account and you can try again next month. plus in Prestige Plus and Simply saver you get 0.05% on your balance still (PALI)
Why can a 5% checking account have a lower cost than a 5% CD
Breakage on the cap, only those qualifying get the 5% rate
How do you qualify in Super Saver
Qualify in your attached Prestige Plus, Simply Cash Back, Simply Eats or Simply Play account
The qualifying product design on Super Saver
2.00% up to $100,000; 1.00% above cap
Who determines if this program is successful at First National Bank
YOU
Avg. balance that determines whether Prestige Plus or Simply Cash Back is better for the consumer
$2,400