In the Fall of 2009, consumers were asked to indicate if they have changed the manner in which they handle their checking and/or debit card account to avoid non-sufficient funds or overdraft fees. 

Today, more households are reporting that they are much more careful in managing their checking and/or debit card account as noted by the fewer number of households indicating that they have made no changes.  Accordingly, more households are reporting that they check their account balances online regularly and keep more money in their checking account to avoid NSF or overdraft fees.

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About RFG’s national consumer research

Financial institutions receive national consumer research through RFG’s Strategic Planning Study Group (SPSG), a marketing research program consisting of semi-annual consumer surveys on current industry topics derived from RFG’s research process.

Based upon 1,155 survey responses of a randomly drawn sample of members of a nationally representative direct mail panel, the consumer responses used in this study were weighted to reflect the nation’s demographic composition. The study’s confidence interval for any proportion gathered in the survey is in a range of 1.7% to 2.9% at the 95% level of confidence.

For more information about RFG’s national consumer research, visit www.raddon.com/spsg.

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