Among financial services providers, who’s likely to get the lion’s share of the business for Health Savings Accounts (HSAs)? Banks and savings institutions, according to Atlanta-based Synergistics Research Corp. In a recent national online survey of 1,000 consumers, Synergistics found that 60% cited banks and thrifts as their preferred provider of HSAs. By comparison, credit unions were cited by 37% of respondents, insurance companies 33%, mutual funds 27% and brokerage companies 9%. Additionally, eight in 10 respondents said they would consider their main financial institution as an HSA provider.

...The average fee charged for a bounced check in the nation’s 25 largest markets rose to $27.04 this spring, from $26.90 last fall, according to North Palm Beach, Fla.-based Bankrate.com, an online financial information service. Bankrate.com, which surveyed 248 financial services institutions, said this was the second highest rate on record, the previous being $27.13 charged in the spring of 2005. The survey also found the average ATM surcharge had risen to $1.60, from $1.54 last fall.

...When it comes to innovative banking/bill paying Web sites, there are top five companies: Washington Mutual Inc., JPMorgan Chase & Co., Barclays Bank PLC, ING Direct and Bank of America Corp.. That’s according to the International Academy of Digital Arts & Sciences announcing its Tenth Annual Webby Awards. The Webby Awards are designed to honor top Web sites in 65 categories. The Best Banking/Bill Paying award in 2005 went to just one company, E*Trade Financial Corp.

...Check out the latest issue of BAI Banking Strategies available online today at www.bai.org/bankingstrategies and featuring:

• A Q&A with Wells Fargo payments strategist Mitch Christensen
• A real-time report on deposit-gathering efforts
• A look at the state-of-the-art of investor relations

More Articles in This Issue

» A HAPPY MEDIUM IN BRANCH MANAGEMENT
Centralize or decentralize? It may be the oldest debate in branch management, as banks swing between the two schools of thought..  »more

» BRANCH DESIGN AND 'BANK PROS' DIFFERENTIATE
How does a community bank compete with much larger organizations? Personal service is a common approach. But Hauppauge, N.Y. based Bank of Smithtown goes a step further to include branch differentiation.  »more

» BUILDING AN EXPERTISE-BASED BRANCH CULTURE
Creating an effective sales culture requires a lot more than improving the sales skills of frontline staff, said Terence Roche, principal of Scottsdale, Ariz.-based Cornerstone Advisors, Inc.  »more

» THE CHEAPER FIX FOR EMPLOYEE RETENTION
When it comes to improving call center performance, bank executives often look for a technological fix rather than a cheaper—and more effective—focus on employee hiring and training practices, says Erika van Noort, director, management consulting, with Montreal-based BCE Elix.  »more

» PODCASTS AT SMARTTACTICS
For more from BAI SmartTactics™ conference, listen to Banking Strategies’ Senior Editor Kenneth Cline’s podcasts with executives from Novantas, TowerGroup, GRFI Ltd. and the Frerichs Group. »more

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