Belmont Savings Bank, Belmont, Mass.
PARTNERS + simons, Boston
To encourage customers to switch their accounts from larger banks, Belmont
Savings launched a “Switch Guarantee” campaign in which the bank promised to
complete an account switch from another bank in under 60 minutes—or else Belmont would give the customers $60 in their new account.
The bank also developed a “switch organizer” that assists customers in bring-
ing all relevant banking information to the bank at the time of the new account
opening. A special timer on customer service desks enables customers to know if
the bank “beat the clock.”
The bank’s switch kit is available online as well as at all bank branches.
Bob Mahoney, president and CEO, says the campaign was the latest in a 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.