BSG Financial Group Announces No-Overdraft-Fee Checking Account Platform for Financial Institutions

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Company Adds PaySound® to its Suite of Revenue-Generating Solutions for Financial Institutions

PaySound Website Example

PaySound Website Example

"Recent research shows that some consumers are willing to pay for the certainty of no overdraft fees," said W. Barrett Nichols, CEO of BSG Financial Group.

BSG Financial Group, a group of independently organized companies that provides revenue-enhancement and compliance solutions for financial institutions nationwide, announced on May 25, 2016 that it has added PaySound®, an online checking account that does not allow overdrafts, to its revenue-enhancement and compliance solutions for financial institutions. With PaySound, banks and credit unions can profitably offer a full-service checking account to account holders who never want to incur overdraft fees. The program also helps institutions address the Consumer Financial Protection Bureau's (CFPB) directive to allow greater access to checking account alternatives, especially those that do not permit a consumer to overdraft.

The PaySound account does not allow the account holder to spend more than the funds in the account and it never assesses an NSF (non-sufficient funds) charge even for returned ACH (Automated Clearing House) and check items. Additionally, in order to help account holders cover one-time or emergency expenses, the account offers an optional line of credit (from $500 to $5,000) that account holders can transfer into their account at no charge using online banking or telebanking. The financial institution sets the underwriting terms and rates, as well as the monthly fee for the account, which is typically between $9.95 and $19.95.

PaySound's automated underwriting function safely incorporates account holder deposit activity with credit bureau credit reports to automatically in minutes approve installment loans up to $5,000. For loans less than $1,000, no credit score is needed. To ensure ongoing soundness and to mitigate risk, the end-to-end system automatically grades and monitors accounts quarterly, reviewing cash flow and credit information.

"Recent research shows that some consumers are willing to pay for the certainty of no overdraft fees," said W. Barrett Nichols, CEO of BSG Financial Group. "PaySound helps financial institutions provide that assurance extremely quickly and inexpensively, while also creating a new stream of income at a time when revenue-generation and profitability are paramount."

The online PaySound platform, which is branded to the financial institution, lets consumers apply online from any Internet-enabled computer or phone. The PaySound platform can be operational in 30 days or less, including comprehensive operational and front-line training.

BSG Financial Group adds PaySound to its existing lineup of overdraft management solutions that includes CourtesyConnect®, an automated courtesy overdraft management system. The company partners with R.C. Giltner Services, Inc., who developed the online platform and provides training and marketing strategies, to market PaySound to its customers and prospects.

"Regulatory concerns and consumer demand suggested we expand our service offerings. We are thrilled to add PaySound to our arsenal of liquidity products so financial institutions can better serve their account holders, increase income and maintain complete compliance," said Nichols.

About BSG Financial Group
Louisville, Ky.-based BSG Financial Group is a group of independently organized companies that provides revenue-enhancing programs—combined with compliance solutions—for financial institutions to help them meet their financial goals. BSG Financial Group has been a provider of innovative overdraft programs since 1999, including the industry's first cloud-based overdraft management solution, CourtesyConnect®/CourtesyLimit™.

The company's additional revenue-enhancing solutions include: Demand Deposit Account Management; Fee-Based Packaged Checking Accounts; Vendor Management; Social Media Management; and Appraisal Management Services.

BSG Financial Group includes the following companies: CourtesyCloud Management Solutions, LLC; BSG Financial, LLC; and IQ Development, LLC. For more information about the company, visit

About R.C. Giltner Services, Inc.
R.C. Giltner provides digital lending technology to financial institutions and is headquartered in Louisville, KY. For more information, please visit or contact Robert C. Giltner at (502) 640-1989 or bgiltner(at)rcgiltner(dot)com.


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Michele Rehm

Michele Rehm
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