Correspondent Blog

While there are many overlooked products in banking, the debit card is perhaps the greatest. The product generates significant fees and helps drive deposit balances, yet debit cards rarely get a mention in strategy, marketing, or customer profitability circles. The debit card is one of the greatest workhorses of banking and, unfortunately, is forgotten about…

Sometime soon, one of the banks reading this will likely be the last bank to handle paper checks. Last week’s announcement that Target, one of the nation’s largest retailers, will not take personal checks past July 15th has made bankers take notice. Target joins Whole Foods, Aldi, and Lululemon as major retailers that have found…

Halloween is approaching, so we might as well talk about death. Checks are dying and about to die quicker, given the rise of instant payments. In the next two years, many banks will have strategic plans to phase checks out, given their cost and reduction in frequency. Checks are getting to the point where they…