PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

In Defense of Overdraft Protection Programs

Mercator Advisory Group by Mercator Advisory Group
June 22, 2012
in Analysts Coverage
0
Apple Moves Into P2P Payments Space - PaymentsJournal

Hand holding mobile phone at supermarket checkout background, digital wallet concept

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The ICBA has published a study that offers additional insights into how consumers view, and use, automated overdraft programs. In essence, the main findings include that most consumers who actively use overddraft programs understand them and see value in them. The automatic nature of these programs offer a high level of convenience to consumers who occasionaly miss an important payment, but not mentioned (at least in the Credit Union Times article) is the fact that not all debits are created equal. My rent and light bill payments are very important. My latte at the coffee shop? Not so much.

According to the ICBA study, most consumers, particularly those using overdraft services, are aware of alternative services to meet their payment needs, such as account transfers and lines of credit. Overdraft coverage is the most preferred option for consumers with four or more overdraft transactions in the past 12 months.

However, the more information gathered about how consumers use these programs should help to inform the Consumer Financial Protection Bureau as it begins its rule-writing process, a topic Mercator Advisory Group covered in our recent Note, Overdraft Fees: Between a Regulator and a Litigator.

Click here to read more from Credit Union Times.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023
    bank data

    Interconnectivity, Data Sharing, and Security Are Vital for Banks to Thrive

    January 19, 2023
    B2B Payments, cryptocurrency

    Crypto as a Practical Solution to B2B Payments

    January 18, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Brighterion eBook - The power of today’s market-ready AI to reduce transaction fraud