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#2286015 - 06/27/23 07:48 PM Relationship Pricing
Luv2run Offline
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Joined: Jan 2015
Posts: 661
We are rolling out new checking products and Marketing want to include that we will offer "special relationship pricing" on our CD's for those that open one of the new checking products. Do I have to get into details in the footnotes on the webpage regarding special relationship pricing?
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#2286018 - 06/27/23 08:02 PM Re: Relationship Pricing Luv2run
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,530
Galveston, TX
I would. Also, for the life of these accounts, when any customer opens a CD, you will have to make sure they get the special relationship pricing, if this is meant as a on-going benefit. You cannot rely on them asking for it, as I have seen banks that have had to do massive lookbacks and compensate those customers for the lost interest. So, make sure you have that sort of tracking and testing in place. If this is not an on-going benefit, all the more reason to make sure you disclose what it means.
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#2286034 - 06/28/23 12:52 PM Re: Relationship Pricing Luv2run
Luv2run Offline
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Joined: Jan 2015
Posts: 661
Perfect! Thanks again for your guidance!
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