Banks Become Creative in Seeking to Secure Customers' Relationships

www.thewowcard.com from Maestro offers “2008’s most innovative promotional product.”



DALLAS--PPNB--During 2009, bank customers have experienced frustration and uncertainty in their banking relationships. With 115 U. S. bank failures this year and another 400 banks considered at risk, some customers wonder if their banks will survive the economic downturn. Banks also continue to frustrate businesses with limited lending.



Smart banks recognize that customers need reassurance, so many community bankers are sponsoring creative, effective programs to secure relationships, while most national banks offer financial awards to attract new accounts.



One of the most cost-effective promotions used by community banks is “The WOW card,” a branded personal assistance program available from Maestro. As Maestro signed its 3,000th distributor; “The WOW Card” also became one of three national nominees for “Best Executive Gift Award” from the Promotional Products Association International.



“Extraco Banks’ internal results using Maestro’s WOW Card-Branded Personal Assistance was so strong that we hope to use it with our customers in 2010,” said Mary Coleman, of Texas-based Extraco Banks.



“Maestro’s Branded Personal Assistance offered a great platform to help connect our bank presidents to our best customers,” noted Bob McElrath of Minnesota-based Frandsen Financial Corporation.



Taking a different tact offering effortless savings, Bank of Texas created “Quicksave” to allow customers to transfer a designated amount into savings with each check card purchase or online bill pay. Bank of Texas then matches a portion of the savings.



Some rewards programs, such as ones offered by Capitol One and Chase Bank, encourage customers to make more transactions by paying bills online, using debit cards, opening CDs and more.



Most national banks, meanwhile, are sticking to financial incentives to attract new customers.



Bank of America and Citibank have rolled out programs offering $100 to $125 bonuses for opening new checking accounts, promoting them in targeted mailings.



About Maestro



Maestro offers WOW Branded Personal Assistance through distributors who sell to companies that want to empower customers, prospects and employees with a branded gift of time and convenience. Recipients of WOW VIP cards are able to call highly-trained, technology-enabled personal concierges 24/7 for assistance in accomplishing tasks or finding information in a fraction of the time they could do it themselves. See “How it Works” at www.thewowcard.com