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The Tightrope Between Checking Account Fees And Consumer Defections

Retail financial institutions face a nasty decision: How to raise fee income without angering customers. But consumers aren’t completely inflexible. Some are willing to make give-get compromises. And surprisingly, half of all consumers say they’d prefer paying for their banking services on an à la carte, pay-as-you-go basis — one transaction at time.

A survey from the Deloitte Center for Financial Services finds that almost half of all consumers would consider paying 25 to 75 cents for each transaction, as opposed to the traditional flat monthly fee models that most banks and credit unions currently utilize.

via The Tightrope Between Checking Account Fees And Consumer Defections | The Financial Brand: Marketing Insights for Banks & Credit Unions.