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John Ezell
Senior VP & Cashier
Redstone Bank
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Original Message:
Sent: 05-08-2018 08:58
From: Steve Kinner
Subject: Tuesday Topic: Are you just storing money at your bank?
Based on results from a customer survey it fielded, Marcus (by Goldman Sachs) just announced: "More than one-third of Americans with savings accounts (38%) chose to open a savings account with their current banks so they could do all their banking in one place, compared to only 12% who did so because the interest rate was better than other options. On top of that, nearly three-quarters of Americans with savings accounts (74%) said it would be accurate to describe their bank as a place that stores their money vs. 22% of them who say it is accurate to describe their bank as a place that makes them money." Marcus paired the findings with a new campaign that advertises a high-yield savings account that has an APY of 1.6%, which it noted is 4x the national average. What do you think? Will Marcus find success paying up for new deposits or will customers stay put, seemingly preferring the convenience of one-stop shopping and storing of money with their current bank?
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Steve Kinner
Promontory Interfinancial Network
Arlington VA
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