Wednesday, May 27, 2009

Could banks increase customers by improving prepaid services?

According to Digital Transactions, they addressed the fact that banks could bring in more customers if they improved their prepaid card services.

According to the article, "They found that customers on average cashed 28% of their checks over the preceding three months at banks, 53% at check-cashing outlets, and 19% at other locations such as retail stores. Some 53% of the respondents had a checking account at the time of the survey, 21% didn’t but had one in the past, and only 26% never had a checking account. Those with checking accounts cashed 34% of their checks at banks."

Read the full article here.

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