Summary:
Growing deposits is a top priority for banks, but in today’s competitive market, simply offering attractive interest rates and hoping that customers make their way to your bank to open an account isn’t enough. Customers expect a seamless online experience that makes it easy to open accounts, explore savings options, and deepen their banking relationships - all online.
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Why Deposit Growth Conversions Matter
And while your bank’s website may not control the entire online application process (often managed by a third-party application partner), it should still do more than just list account types. It needs to actively guide visitors toward meaningful actions that build new customer relationships and make the process feel effortless.
In this guide, we’ll explore key website conversion goals for growing checking, savings, CDs, and money market accounts—and provide a downloadable infographic to help you put these strategies into action.
1. Lead Generation Goals
Customers need clear pathways to open accounts and explore their savings options. By streamlining the process, banks can remove friction and drive conversions. Offering digital applications with intuitive, mobile-friendly interfaces ensures that users can open checking, savings, or money market accounts online without unnecessary delays.
Promotional campaigns such as “Earn a $200 Bonus for Opening a New Checking Account” or “High-Yield CD Rates – Limited Time Offer” can incentivize sign-ups. Additionally, offering downloadable guides like “How to Choose the Right Savings Account” or “The Benefits of Money Market Accounts” allows banks to capture leads while educating potential customers.

2. Engagement Goals
Engaging customers early in the decision-making process increases the likelihood of conversion. Interactive tools, such as savings goal calculators or CD earnings estimators, provide valuable insights and encourage users to take action. Video content explaining the benefits of different deposit products can enhance customer understanding and trust.
Banks should also track content engagement metrics, ensuring blog articles and FAQs address common savings questions, such as “How to Build an Emergency Fund” or “Understanding CD Laddering.” AI-powered chatbots can answer real-time questions, guiding customers toward the best deposit products, or you could offer an account selector feature that helps visitors to your site determine which account type is best for their needs.

3. Acquisition Goals
Banks can increase deposit growth by cross-selling complementary financial products. Bundling checking accounts with debit cards, auto loans, or mortgages offers additional value and encourages customers to consolidate their banking needs. Direct deposit enrollment incentives, such as early access to payroll or sign-up bonuses, can make checking accounts more attractive. Promoting CD laddering strategies—where customers stagger their investments across multiple CDs to balance liquidity and returns—helps savers optimize their deposits and keep funds within the bank.

4. Retention and Growth Goals
Acquiring new deposit customers is only part of the equation—banks also need to retain and grow deposits over time. Encouraging automatic savings enrollments, such as round-up savings programs or recurring transfers, can help customers develop strong financial habits. Upgrading existing customers to higher-yield accounts, such as money market accounts, allows them to grow their balances without switching institutions. Additionally, notifying customers about rate increases on CDs and savings accounts can incentivize them to reinvest and deepen their relationship with the bank compared to finding a better “deal” elsewhere.

5. Brand Awareness and Trust Goals
Trust is a critical factor when choosing a bank for savings and deposits. Highlighting community involvement through financial education initiatives, sponsorships, and local partnerships reinforces the bank’s commitment to customer well-being and to the communities where they live and work. Featuring testimonials and reviews from satisfied customers can also increase confidence in deposit products while emphasizing security measures, such as FDIC insurance and fraud protection. These both reassure customers that their money is safe and the bank is looking out for their best interests.

6. Data Collection and Segmentation Goals
In today’s world, data is king. By leveraging this valuable customer data, banks can refine their marketing efforts and improve deposit growth strategies. Encouraging email sign-ups allows banks to deliver personalized offers, such as exclusive CD promotions for retirees or high-yield savings options for young professionals. Conducting customer surveys provides insights into preferred deposit features, helping banks tailor their product offerings. Behavioral data analysis, such as tracking which savings accounts or CDs customers explore online, enables banks to send timely follow-up messages with relevant product recommendations.

7. Product-Specific Goals
To maximize deposit growth, banks should create targeted marketing strategies for each deposit product. Checking accounts can be positioned for specific audiences, such as students, seniors, or business owners, with tailored benefits. Savings accounts should emphasize competitive APYs and flexible withdrawal options to appeal to both short-term and long-term savers. Money market accounts, with tiered interest rates, attract customers looking for both liquidity and higher returns. Promoting time-sensitive CD offers, such as no-penalty CDs or limited-time high-yield rates, can create urgency and drive conversions.

8. Referral and Advocacy Goals
Banks can turn existing customers into brand advocates by incentivizing referrals and encouraging word-of-mouth marketing. Implementing refer-a-friend programs, where both the referrer and the new customer receive cash bonuses or rewards, can drive new deposit account openings that likely will have more loyalty over time given the referral source of a happy customer bringing you new business. Encouraging customers to share their positive banking experiences on social media can also enhance credibility and attract new customers who value peer recommendations.

9. Engagement Goals for Existing Customers
Ongoing engagement with current deposit account holders is essential for deepening relationships and increasing account balances. Gamified savings tools, such as progress tracking and reward-based savings challenges, can make saving more interactive and rewarding. Providing personalized educational content on topics like wealth-building strategies or tax-advantaged savings accounts helps customers make informed financial decisions while reinforcing the value of their deposit relationship with the bank.

Key Considerations for Maximizing Deposit Growth Conversions
For a high-performing deposit growth strategy, banks should focus on a few critical elements. A seamless online account opening process minimizes drop-offs, while mobile optimization ensures customers can apply from any device. Clear and compelling CTAs such as “Start Saving Today” or “Earn More with a High-Yield CD” help guide users toward action.
Finally, automated personalized follow-ups—via email or SMS—can re-engage potential depositors who showed interest but haven’t completed an application. A combination of convenience, engagement, and personalization makes for a winning deposit growth strategy.

Download the Full Infographic for Complete Insights
To help your bank implement these strategies, we’ve created a free infographic summarizing the most effective deposit growth conversion goals. Use this guide to optimize your website’s conversion strategies and attract more deposit customers.
DOWNLOAD NOW
What’s Next? Let’s Optimize Your Bank’s Website for Conversion Success
We hope you’ve enjoyed our three-part series on bank website conversion goals and picked up some ideas on how to generate more leads through your business banking, mortgage loans, and deposit services. But the work doesn’t stop here!
If your bank wants to increase commercial banking leads, mortgage applications, or grow deposits online, WSI Digital is here to help. With three decades of bank website experience under our belts, we’ve been optimizing bank websites just about longer than anyone else out there. Let’s talk about how we can optimize your website for better conversions. Contact us today!
And if you decide your site is due for a complete makeover, don't worry. We also build amazing (conversion-focused) bank websites and can help there too!