The holiday season can be a stressful, competitive time for companies, and community banks are no exception. Customers have high expectations and overburdened budgets, while you have limited resources and lots of competition. How can you, as a community bank, meet those expectations and delight the customer in a way that is beneficial for your bottom line? A gift card program, like the one ICBB offers in partnership with Convenient Cards to community banks, might be an ideal solution for your institution.
What Do Your Customers Want This Season?
It’s no secret that the holiday season is one of the most notoriously expensive, times of the year. Half of Americans (50%) feel that holiday gift-buying is the most financially stressful event throughout the year, according to one study. This season alone, Americans expect to spend around $1,387 during winter holiday sales. Chances are that your customers are looking to find perfect gifts for their loved ones without having to search too long or break the bank. As a community bank, your institution is uniquely positioned to give them that.
Give Your Bank the Gift of Convenient Cards
ICBB, in partnership with Convenient Cards, offers Prepaid Card Programs for community banks like yours and their customers. The Convenient Visa Gift Card is a single load card that can be loaded up to
$500 at your financial institution. This card makes the perfect gift for your customers to give the most difficult-to-shop-for loved one on their list. Convenient Cards are not only a great gift for your customers, but the program is a great gift for your bank. Here are a few benefits:
Generate Fee Income. Finding sources of non-interest income is a high-priority goal for many community banks. Convenient Card provides a way for your bank to generate fee income while providing a holiday lifeline to your customers.
Add Value to Existing Relationships. Your customers take advantage of many of your vital products and services already, from checking and savings accounts to home and auto loans. However, these enough may not be enough to keep them loyal to your institution. The more value you can add on your end of the customer relationship, the more likely your customers are to keep choosing your bank over competitors.
Defend Against Competing Financial Products. Many of your competitors, including FinTech companies, online banks, and non-bank competitors, offer card products like Convenient Cards. If your customers can’t get these card products from you, they may seek them out elsewhere, giving your competitors a foot in the door. By offering Convenient Cards gift cards, you can become a one-stop shop for your customers’ banking and financial products needs.
Your customers may have more financial product options than ever, but you know that no one will have their back like their community bank. Let us have your back while you have theirs. To learn more, visit VISA Prepaid & Re-Loadable Cards – Independent Community Bankers Bank (icbb.bank) or contact us at solutions@icbb.bank.