A significant challenge when opening a new chequing account is ensuring that existing pre-authorized payment arrangements are transferred over to that new account. It’s confusing, time-consuming and can result in NSF charges for clients if the switch doesn’t happen in a timely manner.
This is why we created eSwitch®, a proprietary solution that looks after managing the entire switch process on behalf of our customers and their clients. At the request of a client’s financial institution, we work directly with the account holder to identify which pre-authorized payment arrangements need to be transferred. We set up a schedule for switchover dates. We then notify the billers of the change, and work with them to ensure that changes are made as requested.
The benefits are clear – eSwitch helps our customers by making sure their clients are cared for and it helps the clients themselves by making the switch process easy.
eSwitch has been so successful with deposit accounts that a number of credit card issuers now offer the service as well, with D+H helping card owners setup or transfer pre-authorized credit card payments to their new card.
eSwitch is just one more example of how D+H works collaboratively with our customers to understand the challenges they face in building stronger client relationships, and how we use this understanding to develop well thought out solutions to address those challenges.