BBVA Compass offers cashback incentive to boost mobile deposit uptake
08 March 2017 | 2604 views | 0
With a cash-back incentive, BBVA Compass aims to boost client engagement and awareness around the convenience of depositing via its award-winning Mobile Banking app.
BBVA Compass’ promotional campaign Check It Out spreads the word to clients about the ease of mobile deposit while giving them the opportunity to earn as much as $1,000 on a penny. Launched last September, the campaign runs until April 30 and rewards cash bonuses to selected clients as a way to brighten their check depositing experience through the use of the BBVA Compass Mobile Banking app.
“Our Mobile Banking app continues to gain national recognition for its convenience and ease of use, and Mobile Deposit® in particular is one of its strongest features,” said Cody Sparks, BBVA Compass director of Multi-Channel Sales & Promotion. “We’re using this promotion as an engaging way to introduce the convenience of Mobile Deposit® to non-users and also as a way to thank our clients.”
The campaign entails distributing 600,000 checks, each with a face value of one cent, in an effort to build client awareness. 500,000 of the checks have been provided to branches for employees to use as an engagement tool with clients, and the remaining checks were mailed to clients who are unfamiliar with mobile deposit.
Participating clients only need to sign-in to Mobile Banking, activate an account alert, deposit their promotional check via the bank’s mobile app and wait to learn if their check has a hidden bonus of $10, $100 or $1,000. So far, 76 clients have been rewarded $10 or $100 bonuses. The bank has reserved a total of $40,000 for the client giveaway.
Recently, Check It Out brought $1,000 to the front door of a five-year client in Flagstaff, Ariz. When mailed a one-cent check from BBVA Compass, the client immediately deposited it using the bank’s Mobile Deposit® feature and was notified days later that her check was worth one grand.
“I’ve been a happy customer of the bank for many years, and this experience only makes me happier,” she said. “Whether I choose to deposit my checks at a branch or through the mobile app, BBVA Compass surpasses my experience with other banks when it comes to convenience and customer service.”