Belmont Savings Announces Time Saving Switch Guarantee

SUBMITTED BY BELMONT SAVINGS BANK: 

Belmont Savings Bank today launched a ‘60-Minute Switch Guarantee’ campaign aimed at encouraging new customers to transfer their bank accounts through an innovative and streamlined process. As part of the campaign, the Bank will complete a customer’s switch –with a simple, easy-to-use ‘switch’ kit– in less than an hour or guarantee prospective customers 60 dollars in their new account.

“People who want to change banks often get stuck on the notion that changing banks is a daunting task,” said Bob Mahoney, President and CEO of Belmont Savings Bank.  “We have created this streamlined process that eases their fears and saves them time.” 

Using a handy “switch organizer,” customers bring all their relevant banking information to the bank and then challenge Belmont Savings to open the account and input bill pay, direct deposit and other key information in just one hour.   A special timer on Belmont Savings customer service desks lets customers know if the bank “beat the clock.”

“We know the perception out there that leaving the big banks is difficult, so we’ve tried to add some fun to the process,” said Mahoney.  “If we can’t beat that 60 minute timer, we give you 60 dollars - guaranteed.”

Hal Tovin, Belmont Savings Bank Chief Operating Officer, pointed to the increased number of people who have switched from larger size banks to community banks in the last year. “Belmont Savings is committed to being ‘the community bank of choice’ with all the services of the big banks and – now—a much easier process of switching,” said Tovin. “The switch guarantee tangibly demonstrates our confidence that consumers will enjoy the experience of switching to Belmont Savings.”

The switch kits enable new customers to collect data for all of their recurring electronic deposits and withdrawals -- direct deposits, car insurance, Internet, credit cards and mortgage/rent payments, investment plans -- onto one form, which allows for the seamless transfer of those transactions. Further, the kits include form letters to switch direct deposit, and redirect bill pays. The kits are available online as well as at all bank branches.

Mahoney said this is the latest in a long line of innovations -- designed to show customers that Belmont Savings can deliver all the sophisticated services offered by big banks, including free ATMs, mobile and online banking, but with much more personalized service.  .

“Many consumers and small-business owners prefer to deal with a local, hometown bank where they can talk to people,” said Mahoney. “At Belmont Savings, we know our customers have busy lives, which is why we have committed ourselves through this campaign to ensure that convenience and great customer service are staples of their experience while in our branches.”

More information on the 60-Minute Switch Guarantee can be found at http://www.belmontsavings.com/home/promotions/switch