Gift Cards Replace Toasters At Banks
Gail Liberman and Alan Lavine write for MarketWatch about how banks are using gift cards as incentives to woo new banking customers. "But to get one, and you may need to jump through unexpected hoops."
The popular gift card idea comes from the consumer goods industries, says Marianne Berry, managing associate for Auriemma Consulting Group, Westbury, N.Y. At banks, the typical value of a free gift card used as an incentive runs around $50, she says. Card issuers set fees and terms, including expiration dates.
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