BB&T has spent hundreds of thousands of dollars in advertisement and training cost in effort to promote MoneyAccounts. The BB&T MoneyAccount is a prepaid account that comes with a prepaid Visa-branded debit card. The account functions much like a traditional checking account. The MoneyAccount is an ideal companion product for BB&T checking account clients. As bankers, we are asked to aggressively push this product on every client, every interaction. We are ask to place less emphasis on the BB&T debit card and to promote the BB&T MoneyAccount as a new alternative. There are many scripting made available for associates to help them get more comfortable selling this product. The MoneyAccount is presented to clients as a safety precaution. It protects the client from fraudulent activity against their checking account, as the MoneyAccount does not draft directly from their checking account as a debit card would. This minimizes the vulnerability of compromising the clients account information. These types of account have been around for many years, why is it so important for every client to have one now, especially since the chip card is now readily available. By 2016, all debit card will display an encrypted chip that minimizes the vulnerability of fraudulent activity. If debit cards will soon function similar to that of the MoneyAccount card, why the big push to get this product in every client’s hands? MoneyAccounts are reloadable prepaid cards therefore; they are exempted from debit interchange regulation. BB&T produces more revenue if this product is sold and is used daily rather than a debit card. They are allow more money per swipe compared to a standard debt card and there is a monthly maintenance fee for just having the card. Using advertising and
BB&T has spent hundreds of thousands of dollars in advertisement and training cost in effort to promote MoneyAccounts. The BB&T MoneyAccount is a prepaid account that comes with a prepaid Visa-branded debit card. The account functions much like a traditional checking account. The MoneyAccount is an ideal companion product for BB&T checking account clients. As bankers, we are asked to aggressively push this product on every client, every interaction. We are ask to place less emphasis on the BB&T debit card and to promote the BB&T MoneyAccount as a new alternative. There are many scripting made available for associates to help them get more comfortable selling this product. The MoneyAccount is presented to clients as a safety precaution. It protects the client from fraudulent activity against their checking account, as the MoneyAccount does not draft directly from their checking account as a debit card would. This minimizes the vulnerability of compromising the clients account information. These types of account have been around for many years, why is it so important for every client to have one now, especially since the chip card is now readily available. By 2016, all debit card will display an encrypted chip that minimizes the vulnerability of fraudulent activity. If debit cards will soon function similar to that of the MoneyAccount card, why the big push to get this product in every client’s hands? MoneyAccounts are reloadable prepaid cards therefore; they are exempted from debit interchange regulation. BB&T produces more revenue if this product is sold and is used daily rather than a debit card. They are allow more money per swipe compared to a standard debt card and there is a monthly maintenance fee for just having the card. Using advertising and