{"id":1944,"date":"2019-12-27T15:09:04","date_gmt":"2019-12-27T15:09:04","guid":{"rendered":"https:\/\/albanknews.com\/?p=1944"},"modified":"2019-12-27T15:09:20","modified_gmt":"2019-12-27T15:09:20","slug":"the-unspoken-holiday-problem-and-how-to-help-your-account-holders-address-it","status":"publish","type":"post","link":"https:\/\/albanknews.com\/?p=1944","title":{"rendered":"The Unspoken Holiday Problem (and How to Help Your Account Holders Address It)"},"content":{"rendered":"<p><em>By Maggie Thompson<\/em><\/p>\n<p>Somewhere along the way (perhaps, not-so-coincidentally, as we each made the transition from child to adult) the holiday season became one big ball of pressure\u2014with financial worry at its core. Statistics seem to support that spending (and, often, overspending) plays a significant role in our lives at this time of year:<\/p>\n<ul>\n<li>Holiday shoppers plan to spend $1,047 this year\u20144% more than last year (<a href=\"https:\/\/nrf.com\/media-center\/press-releases\/holiday-shoppers-plan-spend-4-percent-more-year\">National Retail Federation<\/a>)<\/li>\n<li>9% of Americans are still paying off their holiday expenses from 2018 (<a href=\"https:\/\/d25d2506sfb94s.cloudfront.net\/cumulus_uploads\/document\/67e6bxcrx3\/Holiday%20Gifts%20and%20Budgets.pdf\">YouGov<\/a>)<\/li>\n<li>51% of Americans feel pressure to spend more than they\u2019re comfortable with on holiday gifts (<a href=\"https:\/\/www.bankrate.com\/surveys\/holiday-gifting-november-2019\/\">Bankrate<\/a>)<\/li>\n<li>49% of Americans have no holiday spending budget (<a href=\"https:\/\/d25d2506sfb94s.cloudfront.net\/cumulus_uploads\/document\/67e6bxcrx3\/Holiday%20Gifts%20and%20Budgets.pdf\">YouGov<\/a>)<\/li>\n<\/ul>\n<p>And yet, it\u2019s not something that our society talks about much; the spending just continues while many panic in silence. While it\u2019s certainly up to each individual how they want to approach the financial aspects of the holidays\u2014gift giving, charitable donations, social events, travel\u2014it\u2019s comforting to know that their bank is on their side.<\/p>\n<p>Offering a transparent overdraft protection service is one way to help account holders meet their needs during the holiday season and beyond without causing additional stress or mounting debt. Doing so can mean the difference between an empowered, informed account holder and one who ends up feeling confused, frustrated and even more stressed out during the holidays.<\/p>\n<p>A responsible\u00a0<a href=\"https:\/\/www.jmfa.com\/Services\/Next-Gen-ODP\">overdraft program<\/a>\u00a0offers:<\/p>\n<ul>\n<li><strong>Total transparency and fixed limits.\u00a0<\/strong>With opt-in information, fees and limits discussed beforehand, account holders know exactly what to expect when it comes to their overdraft protection. This can help them consider the necessity of their purchase, and then decide whether it is worth using an overdraft for. Everyone\u2019s situation is different, but the overdraft terms will always be the same.<\/li>\n<li><strong>100% consumer focused.\u00a0<\/strong>Following regulatory rules and guidance isn\u2019t just good from a best practices perspective\u2014it also keeps your account holders\u2019 best interests at the forefront of your overdraft service. When account holders feel that you\u2019re running a fair program they can rely on in times of need, trust and loyalty naturally follow.<\/li>\n<li><strong>Account oversight and support.\u00a0<\/strong>With advanced software capabilities, a responsible overdraft solution can track individual account usage and notify you when an account holder may be relying too heavily on the service. This allows your bank to reach out and offer credit counseling\u2014something many individuals will be receptive to.<\/li>\n<\/ul>\n<p>While holiday spending is a trend that\u2019s sure to continue, you can at least be a part of the solution to the\u00a0<em>overspending<\/em>\u00a0by offering a service that puts account holders\u2019 best interests first.\u00a0<em><br \/>\n<\/em><\/p>\n<p><em>Get in touch with JMFA for a\u00a0<\/em><a href=\"https:\/\/www.jmfa.com\/Services\/Comprehensive-Overdraft-Consulting\/Overdraft-Privilege-Consulting-Sign-Up\"><em>free analysis<\/em><\/a><em>\u00a0of how your bank could benefit from our overdraft consulting services.<\/em><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>\u00a0<\/strong><strong>ABOUT MAGGIE THOMPSON<\/strong><\/p>\n<p>As an Engagement Consultant, Maggie Thompson helps\u00a0nurture the client relationship and solve problems with income, compliance, and process efficiency at JMFA. She also assesses how the system is running and provide support as needed.<\/p>\n<p>Her extensive experience in banking management has provided key insight in exceptional customer service and coaching. Prior to joining JMFA, she achieved at least 95% on all BAT Audits at PNC and has booked over $9 million in Home Equity products in less than a year.<strong><br \/>\n<\/strong><\/p>\n<p><strong>ABOUT JOHN M. FLOYD &amp; ASSOCIATES (JMFA)<\/strong><br \/>\n<a href=\"https:\/\/www.jmfa.com\/\">JMFA<\/a>\u00a0is one of the most trusted names in the industry. Whether it\u2019s recovering lost revenue, uncovering new savings with vendor contract negotiations, creating more value, serving account holders better or delivering a 100% compliant overdraft service\u2014JMFA can help you deliver measurable results with proven solutions. To learn more, please\u00a0<a href=\"https:\/\/www.jmfa.com\/About-JMFA\/Contact-Us-Today\">contact your local representative<\/a>\u00a0or call us at (800) 809-2307.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Maggie Thompson Somewhere along the way (perhaps, not-so-coincidentally, as we each made the transition from child to adult) the holiday season became one big ball of pressure\u2014with financial worry at its core. Statistics seem to support that spending (and, often, overspending) plays a significant role in our lives at this time of year: Holiday shoppers plan to spend $1,047 this year\u20144% more than last year (National Retail Federation) 9% of Americans are still paying off their holiday expenses from 2018 (YouGov) 51% of Americans feel pressure to spend more than they\u2019re comfortable with on holiday gifts (Bankrate) 49% of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":907,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19,25],"tags":[],"class_list":["post-1944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-industry-reports","has_thumb"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/albanknews.com\/wp-content\/uploads\/2017\/01\/jmfa-1.jpg?fit=600%2C600&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p4Y3P2-vm","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/1944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1944"}],"version-history":[{"count":2,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/1944\/revisions"}],"predecessor-version":[{"id":1947,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/1944\/revisions\/1947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/media\/907"}],"wp:attachment":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}