ABG Services,Inc.

>> Why use a Deposit Referral Service?

5 reasons why so many Financial Institutions are turning to Deposit Referral Services to meet their liquidity needs:

Local Deposits - vs - DEPOSIT REFERRAL

Generally smaller dollar amounts that may not fulfill your liquidity needs in a timely fashion.

Larger dollar amounts that quickly satisfy liquidity needs.

Advertising to the core deposit market is necessary for banks looking to grow liquidity. The cost of advertising not only cuts into profits but historically has limited results. Above market rate promotions usually lure local HOT RATE customers.

The funds can be raised without paying costly advertising fees. In most cases the deposits you receive are part of a larger invstment portfolio that thrives on the need for renewal rates.

It is the responsibility of your institution to collect and file all reporting associated with each deposit, a timely and costly procedure.

All reporting will be streamlined through ABG Services - one call to us will satisfy all your due diligence needs.

Funds spent up front without any guarantees. This leaves a lot of guesswork when attracting deposits and meeting liquidity needs.

All costs are provided up front displaying the end results prior to spending one penny. This allows you a more accurate cost analysis.

Lower cost of funds + less work = more profit!

  • Why pay fees to rate line services with little or no results?
  • Why pay to display your rates alongside the competition causing you to pay up on your rates when you need funds?
  • This is a very controlled program; you only take what you need.
  • Why tie up your staff with lengthy paperwork and phone calls? ?We will refer accounts to your institution in increments of $95,000 or greater. This will allow you to open fewer accounts and put less stress on your staff.

Please note:  only well capitalized banking institutions should utilize a referral service to help meet liquidity shortfalls. Special funding such as referred deposits should fit into your institution’s overall AML strategy. There should not be any particular stigma associated with the acceptance of referred deposits. In written correspondence with the FDIC they have indicated that the acceptance and use of these types of deposits should not be discouraged.

For more information please contact us at 1.800.807.3447.