FAQ - Association for Financial Professionals

Bank Pricing FAQ’s

1) What is changing with AFP Bank Pricing?

Changes include more relevant service codes, more pricing descriptions and better pricing information overall. AFP is providing more data points, accredited AFP codes and more descriptive statistics (Hi, lo, Median and Average) for the pricing information. AFP is discontinuing the geographic breakout (Northeast, Southeast, Midwest, etc.) and company size (Large, Medium, Small) breakouts as pricing trends are moving towards the large national market. AFP is keeping the same pricing convention with level I as a member benefit and level 2 as an added subscription. More codes were added including new service lines such as payroll cards, trade finance and SWIFT bringing the total to over 90 codes for level 1 and 280 codes for level 2.

2) When do the changes go into effect?

Bank Pricing Changes for level 1 and level 2 pricing are effective June 23rd.

3) Will the old pricing be available in the old format?

Currently, we don’t have the ability to run two different versions of level 1 and level 2 tiers.

4) What are the differences between the old level 1 vs. new level 1 pricing? Same for Level 2?

Please reference this chart which explains the differences and added codes. (Level 1 and 2 AFP Checkmarks)

5) How often is the bank pricing updated?

AFP’s Bank Pricing is updated quarterly.

6) Are the Bank Pricing Price points verified for AFP Service Codes?

Yes. AFP reviewed all 280+ codes for level 1 and level 2 combined to make sure they are certified for the correct product description against AFP’s list of service codes. Additional information from Informa Research Services is provided in the description line for more clarity.

7) What are the advantages of having certified bank prices and AFP Codes?

You are able to compare price while conducting an RFP. Include Bank Pricing with The AFP RFP Resource Center and you’ll save time and money by streamlining your bank pricing review process as part of managing the RFP process.

8) Who can I contact if I have additional questions?

Tom Hunt, AFP’s Director of Treasury Services.
301-961-8676
thunt@afponline.org

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Bank Pricing FAQ’s

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