Protect your Overdraft Fee Income
In the past few years, overdraft programs have become increasingly important to a financial institution's bottom line, as well as a valued service to its account holders.
With regulations (such as Regulation E) greatly affecting the rules your institution must follow, now is the time to make sure that you are 100% compliant. It is increasingly more important to do everything possible to protect this important revenue stream. Regulators have been critical, and in some cases have fined many institutions for not properly disclosing their overdraft program.
One important step in avoiding such issues is to fully disclose the specifics of the program to participants. It can be a time-consuming process to send out the required letter and disclosure to each participant, especially if this project is done in-house. Not only are you utilizing your own limited human resources, but you may not be minimizing the costs associated with these communications.
Since 2000, Stellar Strategic Group has assisted over 1400 institutions with executing overdraft notification letter campaigns in a timely and cost-efficient manner to produce maximum results for your overdraft program.
The following three questions are addressed in our strategy to provide clients with a comprehensive solution for consumer overdraft campaigns:
As the industry leader in providing this service to financial institutions you can be assured your program is compliant and cost effective. We will provide the highest level of service to your institution, to your account holders and increase your ATM and debit card opt-in percentage. Additionally, all of our data services are executed in a highly secure, SASE 16 data center.
With the experience of having executed in excess of 5,000 of these types of campaigns you can feel confident your account holders will receive the highest level of service available while you will benefit from having a fully-disclosed program when regulators review your internal processes.