Overdraft Prices Tumble While Volume Soars Created by m.moebs on 3/26/2023 12:42:38 PM
The most significant change in overdrafts in more than 50 years happened in 2022.
The OD price fell more than 25%.
The result is startling!
Your comments are encouraged.
OD Revenue About the Same
"Over 25 years ago I said the OD price was too high, volume too low, and dropping the price increases revenue."
"Pricing Financial Services" Published by Dow Jones.
Author - Michael Mobs, Economist &Chair of Mobs Services, LC (M$) a Financial Service Research Firm..
Lake Forest IL (March 26, 2023) Diesel fuel is $4.27 per gallon down from $5.75 in 2022, or 26% decrease. The result is truckers are hauling more goods.
Financial institutions (FIs) are the truckers of money.
Decrease OD price and volume will increase. Walmart's OD price went from $25 to $15 in the pandemic. Now they lead the nation with almost 19% of the 570 million checking market. Many Fls followed Walmart's lead and reduced OD prices to less thar $20 in the latter half of 2022. "Expect further in 2023 and by 2024 OD revenue to increase," says Moebs. READ FULL ARTICLE