PROVIDENCE – Citizens Financial Group has kicked off an incentive program that pays Citizens Bank and Charter One customers for going paperless – at least in their payment transactions.
The program, called “Green$ense,” rewards customers 10 cents for each electronic payment they make, up to $10 per month and $120 per year.
Unlike other incentive programs, Green$ense deposits cash directly into a customer’s checking account on a monthly basis, providing greater savings and spending flexibility. And, rather than limiting cash payouts to debit card transactions, customers enrolled in Green$ense earn money for debit-card purchases (signature and PIN), online bill payments and recurring payments.
Enrollment in Green$ense is free for all Citizens Bank and Charter One customers with a checking account, including Green Checking, the bank’s free-checking product. There are no minimum balance requirements and no hidden fees. As an added perk, customers who enroll in the program will receive an industry-first Green$ense MasterCard debit card made from recycled plastic. Customers also will be enrolled automatically in online banking with free Bill Pay and receive paperless statements.
“At Citizens, we are committed to offering customers products and services that make a meaningful difference in their everyday lives,” said Theresa McLaughlin, executive vice president and chief marketing officer at Citizens Financial Group (CFG). “With Green$ense, we pay customers for changing their habits in a manner that not only makes banking more convenient and their lives more manageable, but also is beneficial for the environment. We are pleased to offer this first-of-its-kind program to our customers, and proud of the impact it will have on the environment.”
Citizens and Charter One customers can calculate the individual effect they will have on the environment by reducing their paper-based transactions with a special online calculator available at the Citizens and Charter One Web sites.
Customers who enroll in Green$ense will automatically receive their banking statements electronically. Citizens Financial Group expects the program to save 700,000 pounds of paper and nearly 7 million gallons of water in the first year of the program alone.
CFG did not specific how much money the program is expected to save the company.
Each month, customers enrolled in Green$ense will receive an e-mail from Citizens or Charter One providing tips for a greener lifestyle and a summary of the impact the program has had on the environment.
CFG said it is promoting Green$ense to customers throughout its retail footprint with a multi-media campaign that includes broadcast and online advertising. Green$ense promotional items have been printed on recycled materials.
Citizens Financial Group Inc., a commercial bank holding company with about 25,000 employees at 1,600 branches in 13 states and non-branch offices in about 40 states, is owned by the Edinburgh-based Royal Bank of Scotland Group plc. Additional information is available at CitizensBank.com or www.rbs.com.
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