Rabobank has launched its first-ever rewards program where customers automatically earn higher rates and free services.
Andy Frokjer, Vice President Marketing Communications Manager, told Loyalty 360 that Rabobank’s Reward Banking bases its benefits on how actively customers use their account or by balance amount.
Customers can qualify for rewards based on daily banking methods such as direct deposit, receiving eStatements and eBills, paying bills online, and by using their debit or credit cards.
Rabobank offers a free SwitchAgent service from Deluxe, which simplifies moving a customer’s checking account, including online bill payments and automatic debits, from their existing bank to Rabobank.
Frokjer said several factors prompted the creation of the program.
“First, we realized that many of our customers were single-service customers and we wanted a deeper relationship and a greater wallet share with them,” Frokjer said. “Second, we wanted to find a way to provide banking services more efficiently. Third, we wanted to provide a standardized way to reward our customers for their loyalty, rather than individual fee waivers and pricing exceptions. When our new customers choose Rewards Banking, they are automatically enrolled in the program. We will be adding our existing customers to the program in the coming months.”
Frokjer said Rabobank launched the program with a sales and marketing campaign on Feb. 11 after extensive testing, a regional pilot, and a soft launch.
Rabobank, N.A. is a California community bank that provides personalized service and a full array of quality products to individuals, businesses, organizations and agricultural clients. With nearly 120 retail branches, Rabobank serves communities from Redding to the Imperial Valley through a regional structure that promotes local decision making and active community involvement.
Rewards Banking is only available at Rabobank’s branches throughout California and online at: www.rabobankamerica.com.