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Banking and Cards Research

Digging into the Customer Experience: Banking and Credit Cards

Corporate Insight’s Bank Monitor, Credit Card Monitor and Small Business Card Monitor provide ongoing coverage of the products, websites and overall customer experience offered by the nation’s leading banks and card issuers. Our value-added banking and credit card research digs deeply to evaluate the retail and small business customer experience.

Debit Cards PDF Print E-mail
A part of every demand deposit account, debit cards have been making headlines recently based on changes to fees, regulations and options at a number of big name banks. In this Bank Monitor report, we investigate the current crop of debit cards available from major banks, including co-branded cards, along with looking at what debit card maintenance and ATM preference options are being facilitated online.
 
Though in-branch interactions are still the foundations of many account holders’ checking account experiences, nearly every account comes equipped with an ATM/Debit card, allowing clients to access their funds throughout the world. In this report, we investigate the current ATM and debit card plastics offered by each firm, along with the online resources they provide to both learn about cards and then manage them. In particular, we focused on the following questions:
  • What debit and ATM card options are banks promoting on their public sites? Are any firms offering in-house or co-branded rewards cards?
  • Are debit card maintenance features facilitated on the private site? Can account holder request replacement cards through any online tools?
  • Which banks offer tools to update ATM preferences to their online banking users?
Every firm in our report mentions debit cards on their public site, though only 75% of the banks include individual product pages for discussing debit cards. Nice banks offer multiple ATM/Debit card options on their public site, with two firms offering co-branded airline rewards cards, two banks promoting non-debit ATM cards and four offering in-house rewards debit programs. Despite the number of firms promoting multiple cards, only three banks offer public or private site tools for requesting a new card. Despite recent announcements about forthcoming debit card fees, none of the banks we investigated are currently applying these charges across their full line of checking accounts.
 
In addition to looking at public site information and card resources, we also dug into the available debit/ATM-related tools on each firm’s private site. In total, just over half of the banks we track offer either maintenance features or ATM preference-setting on the private site. The most common maintenance feature is the ability to request or create a new ATM PIN, an option offered from 33% of banks, while three of the four firms to offer online ATM Preferences sections allow users to set their desired Language, Quick Cash Amount and Receipt Preference.
 
As we examined the debit options and maintenance features available from each firm, we uncovered the following Key Findings:
  • Only on firm allows users to set daily Debit card Limits, restricting the amount that can be used for purchases and withdrawals each day
  •  50% of the in-house debit rewards options are still available fee-free
  • Three banks are offering users the ability to request debit cards with customized images on the front
 
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