Reward for using Direct Deposit?

[falcon9]

I personally would not switch for a small bonus award but I am sure many people would make the change.
Could be a good incentive for new members setting up their accounts for the first time -
Options Listed - By using DD you will earn .50 more each cash out. (or whatever the paypal fees are you will be saving)

If FC pays $0.30 per transaction using PayPal, (for example), then it wouldn't save them any money to offer more than $0.30 to have us switch to direct deposit.  They could offer us $0.29 per cash out via DD and realize a net gain, however.

http://fca.sh/18je3

[jazzyjc]

i would take any amount but most prefer 0.25 ive chosen check for last payment

[agreed05]

I'd switch from pp to dd for a bonus, especially a bonus per payout. That'd be wicked awesome!

[falcon9]

I personally would not switch for a small bonus award but I am sure many people would make the change.
Could be a good incentive for new members setting up their accounts for the first time -
Options Listed - By using DD you will earn .50 more each cash out. (or whatever the paypal fees are you will be saving)

If FC pays $0.30 per transaction using PayPal, (for example), then it wouldn't save them any money to offer more than $0.30 to have us switch to direct deposit.  They could offer us $0.29 per cash out via DD and realize a net gain, however, (it's still a win-win at $0.25 bonus per cash out).

http://fca.sh/18je3

[maverick12]

Sounds like a great idea. I would sign up for DD for the .25 incentive. I know paypal charges are high and mailing checks are probably higher still .... I say go for it 

[oldbuddy]

I would rather see a $1.00 Bonus one time, then I doubt if anyone would switch back once they did it. Fusioncash would come out ahead after a few months.

[falcon9]

I would rather see a $1.00 Bonus one time, then I doubt if anyone would switch back once they did it. Fusioncash would come out ahead after a few months.

I disagree.  A one-time bonus might even encourage members to switch just for the bonus, and then a certain percentage would switch back to their preferred payment method.  Whereas a smaller recurring bonus of say, $0.25 for every cash out tends to encourage members to remain with DD, (depending upon how often members cash out, this would exceed $1.00 after 4 cash outs).

[oldbuddy]

I would rather see a $1.00 Bonus one time, then I doubt if anyone would switch back once they did it. Fusioncash would come out ahead after a few months.

I disagree.  A one-time bonus might even encourage members to switch just for the bonus, and then a certain percentage would switch back to their preferred payment method.  Whereas a smaller recurring bonus of say, $0.25 for every cash out tends to encourage members to remain with DD, (depending upon how often members cash out, this would exceed $1.00 after 4 cash outs).

Using that same logic, I wonder why NetFlix offers us $4 to try their service? Wouldn't some people just grab the bonus and go back to what they had? My guess is after going through the hassle of setting up Direct Deposit and experiencing how fast and simple it is to get paid, they are not going to want to go back. On the other hand, for a quarter I'm not going to even try it.

[magicski]

I would rather see a $1.00 Bonus one time, then I doubt if anyone would switch back once they did it. Fusioncash would come out ahead after a few months.

I disagree.  A one-time bonus might even encourage members to switch just for the bonus, and then a certain percentage would switch back to their preferred payment method.  Whereas a smaller recurring bonus of say, $0.25 for every cash out tends to encourage members to remain with DD, (depending upon how often members cash out, this would exceed $1.00 after 4 cash outs).

Using that same logic, I wonder why NetFlix offers us $4 to try their service? Wouldn't some people just grab the bonus and go back to what they had? My guess is after going through the hassle of setting up Direct Deposit and experiencing how fast and simple it is to get paid, they are not going to want to go back. On the other hand, for a quarter I'm not going to even try it.

I would prefer the ongoing .25 bonus for switching to Direct Deposit. However, I would switch at .10 monthly bonus.

[falcon9]

Using that same logic, I wonder why NetFlix offers us $4 to try their service? Wouldn't some people just grab the bonus and go back to what they had?

Doubtless, some do just that, (if they'd signed up for such a trial offer not only to try the service but, for the FC bonus as well).  Since there isn't any reliable way to determine intent if they decline keeping the offer after the trial period elapses, no conclusive determination could be made in such instances.

My guess is after going through the hassle of setting up Direct Deposit and experiencing how fast and simple it is to get paid, they are not going to want to go back. On the other hand, for a quarter I'm not going to even try it.

For a one-time bonus of a dollar or, an on-going cash out to DD for $0.25 every time a member cashes out?  Regardless, I'm all for the on-going bonus since that would amount to more than $1 after 4 cash outs.

[maverick12]

An ongoing bonus would certainly be better than a onetime and add up to more for us in the long run. FC is saving per transaction too so that should align well. A onetime would mean a bigger outlay for FC up front and many may not even get to the point of cashing out 4 times to make that worthwhile.

At the end of the day, they will have to look at their stats and decide ..... but my preference would be an ongoing bonus.

[swogden]

Yes, I would be willing to go back to Direct Deposit for a bonus on each cash out.  Since I pick up fallen pennies, I'd make the switch for both $.10 and $.25.
More is better.

Do not feel a one time bonus would be as effective for FC -- tho it would be great for the member.

[shepherdchik]

I already have direct deposit on my account but a bonus for saving them the extra time and paper would be nice

[falcon9]

I already have direct deposit on my account but a bonus for saving them the extra time and paper would be nice

That would be saving FC the extra time, paperwork and fees/costs associated with the PayPal and paper check options.

http://fca.sh/18je3

[tomalamadingdong]

i would definately switch for a .25 cash out each time. its just me but i always need an inticement if someone is going to access my bank account.