Most contemporary fee models in retail banking rely heavily on the concept of “bundling” checking products — blending a balance of features that consumers want against the institution’s profitability.
Union Bank has decided to shirk convention however, and has completely unbundled its checking account. With “Banking By Design,”
customers are free to create a checking account that fits their needs. Customers can pick from a range of optional features, each with explanations and associated costs clearly visible.Banking By Design: Unbundling Checking Accounts | The Financial Brand: Marketing Insights for Banks & Credit Unions
What an ingenious method to get the customer to sign-up for more services (optional features) for a fee.