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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Review of DDA Charge-Offs Can Indicate Room for Improvement

Most financial institutions are looking for ways--now more than ever--to increase or, at the very least, stabilize profitability. One place to start is to review the number of DDA accounts that you charge-off per year, as compared to your insitution's total DDA accounts.

If the charge-off percentage is above 8%, you may want to investigate why.

BSG Financial has found that financial institutions with charge-off percentages above 8% may have overdraft programs that are not operating at their full potential and could be "leaking" income.

An overdraft program that offers pre-charge-off routines, such as automated letters and phone calling, can help bring the number of charge-offs back into line and increase profitability...not to mention customer service and retention. If you want more information about reducing charge-offs and how it could help your institution, email Hank Thompson, executive vice president, at HThompson@BSGfinancial.com.

Does your institution routinely assess charge-off percentages and make adjustments if they're too high? If your charge-offs are already low, how do you do it?

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.

Review of Overdraft Program Could Uncover "Found Money"

It's no secret that most financial institutions are looking for new ways to boost income. But before you unleash the new product development hounds, don't overlook the tried and true programs--like overdraft protection--you already have in place. With a few simple tweaks to this program, you could potentially double your income.

BSG Financial offers a COMPLIMENTARY, no-obligation Overdraft Review to determine if your program could be earning more income and better serving account holders. The results of Review may confirm your overdraft program is working to its fullest potential. Or we may uncover "found income." Either way, you have nothing to lose.

To begin, answer a few brief questions. BSG Financial will report any areas of opportunity we identify, and suggest tactical program modifications, if applicable. You can implement any of these modifications on your own, with no obligation whatsoever to BSG Financial, or you may wish to enlist our services.

Start the Review here. It only takes a few minutes, but could reap significant rewards!