Online bill pay yields greater returns than online banking alone, study says.

• Position: Marketing: News

Customers who pay bills through their bank's website are more satisfied with the bank and the online banking experience than those who don't, according to a new study from Foresee Results, Ann Arbor, Mich., and Forbes.com. Also these same customers are significantly more likely to purchase additional services from the bank.

[ILLUSTRATION OMITTED]

The data suggests that converting online bankers to online bill paying customers represents an opportunity for banks to increase share of wallet while driving customers toward the most cost-efficient channel for services.

The survey of over 900 Forbes.com newsletter subscribers compared three different kinds of banking customers: nononline bankers; online bankers who don't pay bills online with their bank; and online bankers who also pay bills online through their bank's website. The results show that the more engaged customers are with...