Gone are the days when banks could count on depositors seeking shelter from the recession. With rising rates, how can banks rise to the occasion?
Banks need to start considering reducing fees and making up the lost revenue by raising minimum deposit balances.
Behavioral theory suggests that deposit rates start rising prior to an anticipated increase in the Fed funds rate because of our tendency to try to outdo the competition.
High-yield, rewards-based checking accounts can help financial institutions weather a rise in interest rates.
As the economy improves and consumers regain financial strength, now is the time for banks to reintroduce credit cards to their payments portfolio.
Institutions are over-paying between 5 and 10 basis points on designer CDs because they are not accounting for the special features of these products compared to fixed-rate CDs.
Loan pricing apps can help raise deposits by enlisting customers in the cause.
Three quarters into 2014, deposit interest rates are on track to keep rising modestly.