Arvest Saves Customers Money with Bill Pay
by June 4, 2007 12:00 am 90 views
Arvest Bank Group Inc. officials figure the Fayetteville-chartered bank saved its customers a total of $63,000 in postage during May, the first month of the new 41-cent first class postage stamp. The savings come via the bank’s online bill pay service.
The number is extrapolated out based on the number of bills the bank paid for its customers during April.
Our source said that would be an average of about $6.50 per customer, so that puts the number of its online customers bankwide somewhere near 9,700.
With the rising cost of fuel, postage and the ever-competitive fee structure at banks, Internet banking is definitely the new frontier for garnering retail business. And free postage doesn’t hurt.