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EPC Rounder Check / Debit Account

Elevate Your Checking Account & Debit Card...
To A Saving/Investing Machine!

Make A One Time Decision

The EPC Rounder Checking is a U.S. patented product that can be added to any existing checking account and debit card.

How Will It Work

When a checking account customer also becomes a EPC Rounder user -- every time they write a check, use an ATM, or debit at the POS, their transactions will be automatically rounded up. The system permits a customer to enter in a “rounder amount”, i.e. $1.00, $3.00, $5.00, etc. to be applied to the face amount of each check or ATM transaction OR, as an alternative, add a $1.00 or more to the number of account entries.

At the back end in the bank’s computer system, the excess amount coming from each transaction is credited to a sweep account for an investment in a bank sponsored product.

For example, assuming the customer sets up a $5.00 rounder, a check written for $85.50 would result in a final debit of $90.00 against the customer’s demand deposit account. The excess amount of $4.50 would be sent to the customer’s sweep account. In a typical month a customer will conduct between 25-35 check/ATM transactions. Using a $5.00 rounder, this will result in $110 to $175 per month going into their sweep account. See Sample Statement.

Once the funds are assigned to a sweep account, they will be distributed per the customer’s instructions into bank sponsored savings account, mutual fund, annuities, insurance products, a stored value card, etc.

Customer Motivation
In response to the logical question, “Why will customers add this feature to their checking/debit account?” The answer lies in the fact that most of us “need to save for a rainy day”. However, in opposition to the “need for self-discipline” lies hedonism and procrastination, which obviously leads “to living beyond one’s means”.

In order to accomplish the saving habit, customers need every tool possible. When a consumer signs up for a EPC Rounder enhancement to their checking account, they will have an excellent opportunity to make a one-time decision and automatically save for that rainy day on an ongoing, painless and consistent basis. In addition to the investing motive, customers will also find it easier to balance their checkbooks when they add the EPC Rounder feature to their existing checking/debit account, because there is no need to deal with the pennies.

Bank Motivation to Offer EPC Rounder Checking & Debit Card

As to the question why will banks offer EPC Rounder Checking & Debit Card, here are some of the many answers:

The Disconnect
A recent study of 14,000 customers (America Banker) revealed that only 9% of checking account customers purchase investment products from their bank. This “disconnect” in consumers’ minds between bank Transaction Products and Investment Products has plagued the industry for decades. Banks have millions of customers using checking accounts, but a low percentage of the same customers using their investment services.

Cross Selling Customers
Banks that license the EPC Rounder Checking system will have the opportunity to upgrade their “depositing only customers ” to “depositing/investing customers” naturally and effectively, on a low cost basis.

Patented Customer Acquisition & Retention Tool
With banks across the country looking to grow their retail business, EPC Rounder Checking offers proactive banks/card issuers the opportunity to attract and maintain customers who are looking for something beyond plain vanilla.

Every Account Can Become A EPC Rounder Checking/Debit Account
Once licensed, banks will have proprietary rights to empower every existing and new customer with a direct connection to their need to EPC Rounder. All of the power and passion involved in the EPC Rounder system can be harnessed and distributed, without the need for the bank to issue a new checking account.

A New Profit Center - Licensees that offer the EPC Rounder Checking program will earn new revenues from float fees, increased interchange fees, monthly service fees, commissions from the sale of financial service products, etc.

License Additional EPC Patented Products - Licensees of the EPC Rounder Checking program will also have the opportunity to license additional EPC patented products.