Blog

PaySound® Allows Financial Institutions to Offer Checking Account with No Overdraft Fees... Ever!

Posted by W. Barrett Nichols, founder & CEO on May 24, 2016 11:07:38 PM

Right on the heels of our latest product release, I am pleased to unveil the addition of another revenue-generating solution for financial institutions: PaySound®—the online checking account that does not allow overdrafts.   

PaySound combines a full-service, mobile-ready checking account with an optional line of credit (from $500 to $5,000) for those of your account holders who do not want to incur even a single overdraft charge. These account holders may have opted out of your discretionary overdraft program or they use alternative sources of short-term funding. 

For whatever reason, they do not want their financial institution to allow them to spend more than they have in their accounts; and recent research shows that many of them are willing to pay for the certainty of no overdraft fees.

Read More

Topics: News, Company News, Digital Lending, PaySound, Overdraft Fees

Subscribe to Email Updates

Recent Posts

Posts by Topic