REPORT ON ASSET MANAGEMENT ACCOUNTS - 2005
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Account Features Offered & Selected
- The following table shows how frequently different features of the Asset Management Account are offered and then selected by customers. According to participating firms, the following features are the most frequently offered: Checking; ACH; Margin Overdraft; and, Debit Card. The feature offered by the smallest number of firms is the ATM Only Card.
- The AMA feature that is the most frequently selected by customers is the Year-End Summary Statement. This is followed by the Checking feature. The least selected features by AMA customers are Bill Presentment and a Separate Line of Credit.
| AMA Features Offered & Selected |
| |
| Feature |
Offered |
Not Offered
(number of firms responding) |
Percent of Customers Selecting Feature |
| Debit Card |
20 |
4 |
47.0% |
| Delayed Debit Card |
2 |
22 |
19.5% |
| Credit Card |
11 |
13 |
10.2% |
| ATM Only Card |
2 |
22 |
10.0% |
| Card Reward Program |
16 |
8 |
23.3% |
| Checking |
22 |
2 |
76.8% |
| ACH |
22 |
2 |
36.1% |
| Billpay |
18 |
6 |
11.6% |
| Bill Presentment |
11 |
13 |
* |
| Margin Overdraft |
21 |
3 |
27.5% |
| Year-end Summary Statement |
18 |
6 |
89.4% |
| Separate Line of Credit |
6 |
18 |
* |
| Other |
5 |
10 |
66.7% |
*Insufficient Data
- We also asked firms to tell us what percent of their AMA customers select both Debit and Credit cards. Among six responding firms, the average percent of customers that select these features totals 6.6 percent. Please consult Appendix II for more detailed information.
