Sponsor (Oct-Dec 1964)

Three-month quarter-million dollar campaign promotes Chemical Bank's Privilege Card, and tv gets the lion's share 1 City-wide banking' gets) ■ its difficult, admen agree, to put new life into bank advertising. Even with an original approach the message is usually the same. In different forms, customers have been offered the same services over and over again — home loans, auto loans, personal loans, high interest rates, special savings accounts, checkbooks in sealskin or exotic colors or with built-in carbons. To attract attention among tired out bank commercial viewers, the Chemical Bank of New York Trust Co. jettisoned the idea of a new approach to old services and came out with a new service — city-wide banking. During the last three months of 1964 the bank is spending $250,000 in advertising to introduce the service. "Over half" the money has been channeled into New York television stations, according to the bank, in a commercial schedule that began Oct. 13 and will end Dec. 31. City-wide banking does away with much of the red tape so prevalent in banking today, the bank claims. By presenting a Privilege Card, which has been mailed to all customers in good standing, the holder will be able to cash a personal check readily in any one of the bank's 127 offices — not previously possible without considerable "red tape." The new card is being advertised heavily on tv, with support from radio, newspapers and direct mail. Through Benton & Bowles, every New York tv station and all major New York daily newspapers will be utilized. A small amount of radio advertising will be aired on WQXR. Until now, bankers and customers agree, taking money out of a branch bank other than the one where a customer has an account can be a real problem. "The need for proper Bank credit cards Aside from courtesy cards offered special customers, at least two banks have issued credit cards. For some five years the Bank of America has made available its BankAmericard that can be used for identification when cashing checks in the bank's branch offices. For awhile Chase Manhattan tried the same type of credit card, but sold out the system two years ago "because it was unprofitable." Both cards were similar to the Uni-Card. (This is not surprising, as the founder of Uni-Card also established the credit card system for the Bank of America on which Chase Manhattan later based its system.) The Chemical Bank Privilege Card can be considered new if it is thought of as a greater extension of the courtesy card system or as a part of the BankAmericard system, but it is not a total innovation. identification often results in delays and misunderstandings, depriving the depositor of one of the benefits of city-wide branch banking," comments William S. Renchard, president of Chemical New York. The new service has come about after several years of research and experimentation. During the testing period, the Privilege Card was called a courtesy card "to protect the innovation from use by other banking firms." "Never again should you be caught short without a place to cash a check quickly," commercials state. "Simply present your Privilege Card to any Chemical New York teller along with the check you are cashing on your Chemical New York account." The bank says it will renew each Privilege Card yearly for life, as long as the account is properly maintained at any Chemical New York office. If a customer moves or wishes to transfer his account to another location, his Privilege Card can be automatically renewed at the nearest branch. The main theme of the commercials is "I'll cash your check even if I don't know you" (that is, up to $50 for special accounts and $100 for regular accounts). The bank claims the major distinction between its Privilege Card and courtesy cards issued to checking account customers by other banks — notably. Chase Manhattan, Manufacturers Trust, First National City, Bank of America NT-SA (San Francisco) — is that its card is extended to all special and regular checking account customers rather than on a restricted basis to "very special accounts." Also, once the card is presented to the teller, no further verification is needed. 42 SPONSOR