Fly on the Wall

Overdraft Action Brings Positive Reaction

It's no secret that your financial institution's earnings are at risk. The overdraft programs that generate a large portion of a bank's income are under attack. (See related New York Times story here.)

Although most legislative bills are initially written in the harshest terms possible, then amended to a softer stance, it is BSG Financial's belief that overdraft programs as we know them will be significantly changed.

In fact, much of the overdraft income you enjoy today may be legislated away. And with the proposed consumer warnings and options, many of your customers may opt out of the overdraft program. As a result, most banks will simply start returning checks again.

But for every action, there is a reaction.

If this happens and more overdraft items are returned, the number of returned deposit items for your business customers will increase..along with the headaches of collecting these funds. As such, BSG Financial's Re$ubmitIt electronic check recovery program will be a key solution for your commercial customers AND your bank.

Re$ubmitIt helps business customers collect more NSF checks with less work. It helps your bank realize much-needed income to offset the anticipated lost OD revenue. It is simple to implement. It is completely compliant.

Strategically, there is no better time to consider the Re$ubmitIt program than right now.

Learn more here.

Contact BSG Financial today and start earning immediate income. We're implementing banks daily. Don't be at the back of the line!

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Don't Pile On--Offer Business Customers A Valuable Service for FREE

According to a news release on yesterday's BusinessWire, fees on business checking accounts have risen 10.3 percent in 2009. This isn't much of a surprise, of course, since many financial institutions have had to increase fees for services this year simply to stay afloat.

Especially now--when everyone feels like they're paying the price for the struggling economy--wouldn't it be nice to offer your business account holders a valuable service that will increase their cash flow... for FREE? No strings attached. No fees.

Not a problem, with BSG Financial's Re$ubmitIt electronic check recovery program for business account holders. The program--which also INCREASES INCOME for the financial institution--collects more of the funds businesses are owed from NSF checks and other returned deposit items.

Business customers pay nothing for the service. They do none of the collection work. They thank their financial institution for helping them out when it counts.

At a time when every penny counts, give your business customers FREE, not fee.

Higher FDIC Insurance Premiums: Who Picks Up the Tab?

Earlier this year, FDIC Chairman Sheila Bair warned that the banking industry would possibly face additional deposit insurance premiums by yearend. "We think there is a good probability that we will have to do another special assessment in the fourth quarter," she said in May.

Based on the number of bank failures since then (43 banks, with $41 billion of assets), the 'probability' looks more like a certainty in order to replenish the Bank Insurance Fund.

How will you pay for these additional assessments?

Whether you're looking to increase income or decrease expenses, BSG Financial can help you 'pick up the tab.'

Our Re$ubmitIt electronic check recovery service increases income for your institution and your business account holders by electronically collecting funds from returned deposit items.

Our ExpenseMark sourcing and procurement program can cut expenses by 25% to 40% in selected cost target areas.

Easy Way Banks Can Increase Income, Service

Thanks to the South Carolina Bankers Association (SCBA) for publishing our article, "Capitalize on Check Processing Profit-Making Opportunity," in the Summer 2009 issue of the association's magazine, Palmetto Banker.

Read article here.

The SCBA endorses BSG Financial's Re$ubmitIt electronic check recovery service for business customers.

Businesses love Re$ubmitIt because it takes the work of collections out of their hands, AND gives them more of the money they're owed.

Does your bank need more income?

Success Is In The Details

Check out the latest article about Re$ubmitIt, which appeared in the April issue of Kentucky Banker Magazine, the publication of the Kentucky Bankers Association (KBA).

The article outlines details of the Re$ubmitIt program that address banks' needs and maximize profitability and service to business customers.

The KBA selected Re$ubmitIt as one of the services it offers its members. BSG Financial is proud to be part of the elite group of vendors KBA endorses.

Peep Show

Few things say “Spring” like Peeps--those yummy, pastel-y, sugar-y marshmallow treats. They're everywhere! This link to photographs of Peeps at landmarks around the world inspired “the fly” to get in on the action.

We’ve put our Peeps to work to explain BSG Financial's Re$ubmitIt® program, the electronic check recovery solution that:

• increases income for your bank and
• helps your business customers collect more funds from returned deposit items.

The process is so simple a Peep can do it!

See for yourself… (click on the image below to enlarge.)

 

If you want to learn more about Re$ubmitIt, click here. Happy Spring!

A "Warm Fuzzy" Just Makes You Feel Good

When I was in grade school, the school counselor used the term, "warm fuzzy" (a little too often, I thought!), to encourage us to say nice things to and about one another. A recent email we received from a customer reminded me of this term, because it did, indeed, give us a good feeling. This compliment was especially rewarding, as it was NOT from a financial institution, but from the bank's customer, who is an end-user of our product, Re$ubmitIt. (FYI: Re$ubmitIt helps businesses--including school districts, municipalities and other "non-merchant" businesses--more successfully collect funds from NSF checks.)

The customer is the PTO Treasurer for an elementary school in Missouri, who has the unfortunate job of collecting funds from fellow parents whose checks do not clear. She writes, "Thank you for all of your help. I appreciate not having to try to collect money myself from other parents at my child's school. It makes my life much easier!"

Has a customer let you know that your institution is actually making a positive difference in his/her life? If so, let us know!