![]() PYMNTS: Do you feel the new government financial regulations, particularly those impacting debit cards, in the end will slow or spur innovation in payments? This will vary by location and will be conveyed via and most consumer touch points. IBC: To ensure that we continue to deliver the best possible service to our customers, once these in-store branches close, we will also be extending our hours and days of operations at some of our remaining traditional branch locations. IBC customers can also access their accounts a myriad of ways including: IBC debit card, IBC Voice, IBC Bank Online, IBC bill pay, IBC Mobile Banking, direct deposit services, and our network of over 375 IBC ATMS’s. We want our customers to remain with us and hope they will continue to do business with us at other branches. PYMNTS: How will IBC continue to support customers in communities where branches have been closed? This is in line with our customer feedback. A survey from SWACHA indicates that 62 percent of debit cards users would cancel their services as a result of a $5 monthly fee. Current research indicates that customers don’t want to pay bank fees. We made our decision to preserve at this time, our free products and services considering customer feedback and research. Our customers have always made it clear to us that free products and services are extremely important to them. The recently passed banking regulations have resulted in numerous changes in the financial industry from the elimination of rewards programs to the elimination of free checking. IBC: With a IBC free checking account, customers receive access to a debit card, online banking, online bill pay, IBC Voice phone banking, IBC ATMs, IBC mobile and e-statements all free of charge. Please give us an overview of this program, and why IBC did place focus on maintaining it? PYMNTS: IBC recently took action to preserve the company’s free products program. Many of those considerations involve business practices that are proprietary and private. There were many variables that were taken into consideration in reaching this decision. This means we will close 55 of our smaller in-store branches located in grocery stores. To keep those free offerings in place, we had to reduce expenses. Government many times passes regulations that end up hurting the very people they were intended to help. IBC: The closings are an unfortunate result of recently passed banking regulations that limit how much banks can charge stores for debit card transactions ( interchange). PYMNTS: How did IBC arrive at the decision to close 55 of its smaller store branches? How did the company go about selecting which branches to close? Even after the branch closures, IBC will continue to operate 219 locations and more than 375 ATMs in 89 communities throughout Texas and Oklahoma. Today, it serves as the flagship bank of International Bancshares Corporation. ![]() IBC Bank: IBC Bank was founded in 1966 to meet the needs of small businesses in Laredo, Texas. : Our readers would love to hear a little bit about the history of International Bancshares Corporation (IBC), the communities it currently serves and what makes IBC unique from other FIs? Read Press Release: IBC Announces Branch Closings in Response to New Banking Regulations, Stresses Commitment to Customer Service and Free Products Program If you were enrolled in Visa ® Checkout or Masterpass™ by Mastercard ® you have been automatically upgraded to this service.IBC Bank spoke with about choosing to eliminate 55 branches, in lieu of taking away free customer products, due to recent banking regulations. This new online checkout option lets you store all your payment information in one secure payment profile and check out in just a few clicks. Now you can use your card to pay faster and smarter online – no more passwords to remember or accounts to create. Your payment is made digitally without having to insert your card or input account information over and over.ĭepending on your mobile device, you can enroll your smartphone, tablet or smartwatch in its appropriate wallet and input your credit card information to make quick, secure or in-app purchases. Then at check out just tap your phone or click submit. It’s easy! Just input your account information into a digital wallet, payment service or online account. Use digital devices to pay for something fast and securely. Simplify everyday purchases and payments.
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