Overdrafts Quiz

7 Questions

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Overdrafts Quiz

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Questions and Answers
  • 1. 
    Should you offer De Minimis on Checking?
    • A. 

      Yes, offering De Minimis will increase consumer satisfaction and revenue in the long run.

    • B. 

      No, offering De Minimis will decrease OD revenue

  • 2. 
    Reloadable Prepaid Cards (RPC) is a form of Checking which doesn't allow Overdrafts - who offers the most RPC's?
    • A. 

      Banks

    • B. 

      Thrifts

    • C. 

      Credit Unions

  • 3. 
    Should you offer Opt-In on Checking Accounts?
    • A. 

      Yes, offering opt-in will give consumers overdraft options

    • B. 

      No, consumers do not want to overdraw their account

  • 4. 
    Should you charge for Deposit Transfers for Checking?
    • A. 

      Yes, charging for every deposit transfer will increase the value of the service

    • B. 

      No, consumers will turn away from us if we charge

    • C. 

      Yes, after a certain amount of transfers

  • 5. 
    Should you charge a higher Overdraft price to increase revenue?
    • A. 

      Yes, the higher the price the higher the revenue

    • B. 

      No, the low price creates high volume, which increases revenue.

    • C. 

      The OD price is not significant. Other checking factors are more important to drive revenue.

  • 6. 
    Does the Mobile App reduce the risk of a customer being overdrawn?
    • A. 

      No, mobile apps are not in real time and would not prevent an overdraft from occurring.

    • B. 

      Yes, the mobile app makes the account more manageable with transfers & deposit remotely.

  • 7. 
    Should Overdraft Channels be priced differently?
    • A. 

      Yes, different priced channels provide benefit to the consumer and financial institution

    • B. 

      No, all prices should be the same