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Financial institutions can recover their lost debit card fees by refining their deposit pricing to reduce interest expense.
Customers will pay fees for services included in their checking account and not sold separately, but only at a price point perceived as “fair.”
Profit-based pricing helps lenders find the optimal price.
Overall profitability can be enhanced by taking a broader view. For a more effective approach to pricing, consider customer demand and marketplace factors along with internal costs.
To maximize the revenue potential of their deposit operations, banks need to take a more scientific approach to pricing.