When will banks start using rewards as a way to influence customer's behaviors?
Starting August, many banks have revisited the number of free financial and non-financial transactions allowed by a customer residing in metros and non-metros. It seems banks wants to penalize (charge fees) to change customer's behaviors.
Instead why can't bank start rewarding customers who avail services via only digital channels (read do no ATM/cheque transactions) and in the process earn benefits through 'word of mouth' publicity.
I think it is time for banks to introduce channel based fee structure to make themselves more customer friendly and pass on some of the benefits of reduced operational cost incurred via digital channels.