Consumers are willing to pay for value when it comes to banking products.
Nearly half of 30-something Millennials said they would pay $5-$10 a month for an Amazon checking account, including cell phone damage protection, ID theft protection, roadside assistance, travel insurance and product discounts, according to a recent survey conducted by Cornerstone Advisors.
Less people from all age segments said they'd open a free account from Amazon.
Almost 60% of people would at least consider switching accounts if their primary FI offered this same type of checking account.
More people in fee-based accounts are referring their bank than those in free accounts.
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Accessorizing the Checking Account
Download the latest free White Paper in this series, Accessorizing the Checking Account, by Ron Shevlin, Director of Research at Cornerstone Advisors that is loaded with more insights.