Tag: Cross-selling

Using Personal Combined Balances for Business Accounts

Deposit Account Design

Only an estimated 60% of banks allow customers to use combined balances of multiple products (both other deposit accounts and/or loans) to offset minimum balance requirements or average balance requirements in order to have their monthly account fees waived. Very few community banks allow personal/retail accounts to contribute to the combined balance requirements of their business accounts. This is a mistake as there are some distinct advantages.

 

The Advantage of Combined Balances

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