Bank service pricing is too complex for many corporations to determine if they are paying competitive prices. Phoenix-Hecht can provide you a unique, no-cost, market analysis of your bank fees based on our annual Bank Price Study.
Obtaining a BCR is simple. All we need are the summary pages from the January account analysis statement the bank(s) sends you. We provide a secure server and a personalized link for you to send a PDF of the statements. It's important to remember, it's free when you submit your account analysis statements during our February-March Bank Price Study - as thousands of companies do every year.
Many companies use the BCR to avoid the frustration of doing their own analysis, track annual price movements for their unique mix of volumes, and avoid the lengthy RFP process to verify the competitiveness of existing pricing.
Make the BCR part of your annual bank assessment. Even if your bank fees are not changing, your Overall Price Percentile of total fees paid can go up or down depending on changes in market pricing.
BCR’s are not generated for statements received after the close of the Bank Price study.
"The BCR directed my attention to the cost issue farthest outside the expected range. Was able to reduce fees with the bank based on the analysis."
"We are coming up on a new RFP for banking services. It is good to know where we stand in relationship to other banking customers to anticipate any budget increases. It will also help us evaluate bid pricing responses."
"It allowed us to compare fees across our top three banks and identified one bank with a much higher fee structure than the others. This provides valuable information during renewal/negotiation periods."
"This report provides a data point that shows the fees we are paying to our principal bank are competitive. We can use this, combined with our assessment of the quality level of service to speak confidently about the value we are receiving from our bank."
"The BCR gives us the ability to benchmark against other companies nationally."