September 2013: Account Product Offerings & Public Site

In this edition of Bank Monitor Report, we provide a summary of the deposit account products currently promoted by each firm and the resources offered on each bank’s public site. For each firm tracked by Bank Monitor, we look at the checking, savings, money market and CD products available to prospective clients, along with the firm’s current fees, rates and promotions. For firms that offer only a select number of accounts, each account is detailed in a comparison chart within the firms’ write-ups. For those firms that offer an abundance of accounts to choose from, we provide a sampling of the top accounts in a similar comparison chart within the firms’ write-ups. We also investigate the public site services offered by each firm, focusing on the main areas within each of the 16 banks tracked by Bank Monitor: navigation, product overviews and individual account product pages. Though all 16 firms provide these resources, each firm offers its own variation. Finally, we call attention to any notable and interesting products, tools or features offered by a bank on its public website.
Of the 16 Bank Monitor firms we track, two firms offer the most checking accounts, providing users with seven checking account options each.; two other firms offer only one checking account product each. Currently, only a single firm offers rewards checking accounts. On the savings side, one firm offers eight savings and money market accounts (the most in this report), while two banks each offer a single savings account. Regarding public site offerings, all 16 Bank Monitor firms offer a horizontal top navigation menu based on tabs, with every firm except one offering flyout menus from the main navigation. Additionally, 81% of Bank Monitor firms offer overview pages for account types (e.g., Checking, Savings) featuring comparison tables for the respective products.
 
Additional Key findings include:

  • 44% of Bank Monitor firms offer account holders a higher interest rate on certain accounts if they have an additional linked account with the firm.
  • Three firms offer a secondary row of navigation tabs below the main menu, while five firms feature a secondary left-side navigation menu.
  • Only five firms currently offer account recommendation tools, asking users to answer a set of questions to determine appropriate account type.

In this edition of Bank Monitor Report, we provide a summary of the deposit account products currently promoted by each firm and the resources offered on each bank’s public site. For each firm tracked by Bank Monitor, we look at the checking, savings, money market and CD products available to prospective clients, along with the firm’s current fees, rates and promotions. For firms that offer only a select number of accounts, each account is detailed in a comparison chart within the firms’ write-ups. For those firms that offer an abundance of accounts to choose from, we provide a sampling of the top accounts in a similar comparison chart within the firms’ write-ups. We also investigate the public site services offered by each firm, focusing on the main areas within each of the 16 banks tracked by Bank Monitor: navigation, product overviews and individual account product pages. Though all 16 firms provide these resources, each firm offers its own variation. Finally, we call attention to any notable and interesting products, tools or features offered by a bank on its public website.

 

Of the 16 Bank Monitor firms we track, two firms offer the most checking accounts, providing users with seven checking account options each.; two other firms offer only one checking account product each. Currently, only a single firm offers rewards checking accounts. On the savings side, one firm offers eight savings and money market accounts (the most in this report), while two banks each offer a single savings account. Regarding public site offerings, all 16 Bank Monitor firms offer a horizontal top navigation menu based on tabs, with every firm except one offering flyout menus from the main navigation. Additionally, 81% of Bank Monitor firms offer overview pages for account types (e.g., Checking, Savings) featuring comparison tables for the respective products.

 

Additional Key findings include:

 44% of Bank Monitor firms offer account holders a higher interest rate on certain accounts if they have an additional linked account with the firm.

 Three firms offer a secondary row of navigation tabs below the main menu, while five firms feature a secondary left-side navigation menu.

 Only five firms currently offer account recommendation tools, asking users to answer a set of questions to determine appropriate account type.