The Responsible Approach to Business Overdraft Management

BSG Financial’s flagship overdraft management program, OverdraftHonor®, was the industry’s first courtesy pay program to be offered to a financial institutions business accounts. Today, the same robust technology, adherence to federal guidance, and responsible administration is offered through CourtesyConnect®, the company’s new Web-based courtesy overdraft management system.

CourtesyConnect® for Business Accounts is an effective way to improve service for business accountholders, while generating significant fee revenue. The program utilizes the same conservative standards used in the consumer version of CourtesyConnect® The program does not make use of marketing or other enticing strategies; it discloses other lower cost options; permits accountholders to opt out; and provides guidance to prevent possible abuse of the service.

Expand Your Business Account Relationships. Our experience shows that 60% or more of business accountholders do not currently have a lending relationship with their financial institution. CourtesyConnect® for Business Accounts is an excellent way to provide them with an additional service that meets an existing need and can lead to expanded relationships, including loans. The increasing usage of debit cards among business accountholders makes this additional service particularly attractive to your business accounts.

In addition, CourtesyConnect® for Business Accounts gives businesses added benefits, such as more flexibility in meeting payroll, obtaining volume discounts and eliminating the need to draw cash from personal accounts.

A New Set of Opportunities and Challenges.
While business accounts represent new service and income opportunities, there are also new challenges. Unlike personal accounts, which have more predictable risk factors, the fortunes of businesses — especially smaller ones — are more volatile. There is need for a specialized set of eligibility criteria, more frequent updating of this data, and different limits and collection approaches. Our experience provides you with a reliable set of Best Practices to ensure positive results.

CourtesyConnect® for Business Accounts offers your institution a way to differentiate itself to existing and potential business accountholders, while adding more fee income. Call today for a no-cost evaluation!

» top