Survey suggests what bank services consumers are willing to pay for.

• Position: MARKETING NEWS - Brief article

CONSUMERS SAY THEY ARE WILLING TO PAY FEES for the convenience of "lifestyle financial services," according to the results of a recent survey by Market Rates Insight Inc., San Anselmo, Calif.

These types of services include such things as credit score monitoring, identity theft alerts, mobile banking services, personalized couponing services, and person-to-person payments.

Consumers indicated they are willing to pay on average $3.63 for lifestyle financial services that deliver convenience and efficiency. Sixty-six percent of bank customers said that they were likely to use such services.

Foremost among the services that consumers indicated they would seek from financial institutions is identity theft alerts. More than 82 percent of those surveyed indicated they would be likely to buy identity theft alert services from their bank at an average monthly fee of $4.07. Ranking second was credit score reporting, with more than 73 percent indicating they were likely to buy this service at an average fee of $3.39 per month.

"Financial institutions continue to see revenue from fees for...