Frequently Asked Questions

You select competitors from a map to appear on your report.  Begin your selection process by clicking Build Custom Report. 

Real-time RateShop Reports may include any depository or lending institution that publishes their rates online or provides rates electronically to RateShop.   This may include banks, credit unions, brokers and other financial companies and fintechs.

 

 

Yes, competitors may be exchanged periodically at no additional cost.  If regular or more frequent exchanges are required, please contact us for any additional cost.  Adding institutions over ten will incur a pro-rata cost.

 

 

You may choose retail deposit, consumer loan and mortgage loan categories which include over 75 product and terms.  To view which products are included in each category, visit Pricing and click on any learn more button.

If a product that you want to track is not listed, please Contact Us to see if we can include it for you.  Additional fees may apply. 

 

 

Your custom Real-time RateShop Reports are available to anyone in your organization 24/7/365 at no additional cost. 

 

 

Real-time RateShop Reports are available any time of day, every day, updated with live current rates from all of your competitors. 

Interactive reports are accessible online in mobile and desktop formats.  Data in your reports may also be downloaded in a spreadsheet, or in PDF format for printing.  

 

 

RateShop obtains institution data from call reports filed with the NCUA and FDIC, which is updated quarterly.  

Rate, fee and product information for each financial institution is updated daily or hourly via proprietary systems built by RateShop.

 

 

All rates are updated for all financial institutions hourly or daily.

 

 

Rates that appear on a financial institution's website are exactly what you will see on your Real-time RateShop Report.  The chance for error or old data is nearly eliminated as it is recorded in real time directly from their website or electronic feed into your report.  The entire process is automated with no human intervention.  

Each rate, fee or data point has a direct link back to the page where the data was obtained so that you are always one click away from the source of the data and any other related terms and disclosures.

RateShop's total automation and sophisticated error checking is what powers our Always Accurate Guarantee - It's right or it's free.

 

 

If rates from a product or institution become unavailable for any reason, you may request RateShop to exchange it for another product or institution at no additional cost.

 

 

Your pricing committee.  They need to reprice to current market conditions every time you set your rates. 

Your front line staff.   They needs to know the current rates for your competitors every time they are in a competitive situation.  

Your marketing team.  They are responsible for a significant budget in marketing an advertising dollars.  Spending this budget wisely on products that have a competitive advantage is critical to your organization's ability grow new business and retain existing business.   

The CEO and and financial team.  They need to know that you are not paying more than you need to for your deposits and that your assets are earning as much as they can.

 

 

We make you the first to know.

Banking competes at the speed of the internet in today's hyper-competitive market. Be the first to know when your competitor makes a move with real-time data.

Real-time Rate Shop Reports are the only solution in the industry that provide completely automated, intraday access to live deposit and loan rates as they change.  

We put deeper knowledge at your fingertips.

Each rate, fee and data point has a link on the report back to the source of the data on your competitor's website giving you direct access to detailed information about each competitor product on your report.    

With Real-time RateShop Reports, you will always have the most current rates from all of your competitors at your fingertips. 

We make you the smartest competitor in your market.

No other solution in the industry can keep you competitively tuned-in like Realtime RateShop Reports.

 

 

Get the most out of your margins. A few basis points can mean thousands of dollars in interest expense and lost income.  You wouldn't make decisions based upon outdated financial information, why would you use obsolete competitor data for your ALCO meetings and pricing decisions? 

Never pay more than you have to.   Without live competitive data, it is impossible to reprice liabilities to current market conditions.  This means you could be paying more than you need to, or that you are losing market share because you are not paying enough.   

Maximize your interest income.  Know when and how much to increase loan rates to keep your portfolio and income growing.  Analyze peers and make confident pricing decisions based upon real-time data-driven strategies.

Knowledge closes deals.  Both your front line and your marketing team need current competitive  information to help you spot opportunities and close more deals.  Give them the ammunition they need with Real-time RateShop Reports.  

Saves you money.  The average cost for checking rates on ten competitors in-house is about $277.33 per month per report.  RateShop costs $83.33 per month per report ($8.33 per competitor for ten competitor).  You save $2,328 per year by outsourcing to RateShop, AND you gain all of the benefits above.  Click here to see the Inhouse vs Outsource to RateShop Cost Comparison.

 

 

Avoid outdated, inaccurate repricing.

You wouldn't make decisions based upon outdated financial information, why would use obsolete competitor data for your ALCO meetings and pricing decisions? 

Be the first to know when your competitor makes a move with real-time data.  You will always have the most current rates from all of your competitors at your fingertips, making you the smartest competitor in your market.

Make more confident pricing decisions. 

Real-time data exposes insights to competitive performance and market trends that are not available when you are using week or month old data.

Bottom line.  You make make more confident and accurate pricing decisions when you are repricing to current market conditions with Real-time RateShop Reports.

 

 

It's not comparable.  Here are six reasons why:

Consistency. RateShop's data collection process is completely automated, which means the data that appears on your report is updated exactly the same way every time.  No human error.  

Accuracy.  RateShop utilizes sophisticated error checking that is not be possible without advanced automation.  Real-time RateShop Reports are backed by an Always Accurate Guarantee.  It's right or its free.

Reliability. Reports are always on time and there when you need them, 24/7/365.

Timeliness. You can not get any more timely then real-time.  All competitors on your report are updated hourly or daily.

Deep Knowledge. Rateshop updates 75+ deposit and loan products and terms, providing in-depth insight into your competitors' offerings.   Each rate is only one click away from all product details and disclosures on your competitors' website giving you a deep understanding behind each rate.  

Cost.   The average cost for checking rates on ten competitors in-house is about $346 per month per report.  RateShop costs $99 per month per report.  You save $2,972 per year by outsourcing to RateShop, AND you gain all of the benefits above.  Click here to see the Inhouse vs Outsource to RateShop Cost Comparison.

 

 

Banking competes at the speed of the internet in today's hyper-competitive market. Every moment you delay costs you money in time, expense and opportunity. 

Free your staff up to focus on beating the competition instead of gathering data on them. 

Start saving money now by outsourcing to RateShop.  Click here to see an In-house vs Outsource to Rateshop cost comparison.

 

 

No.  Real-time RateShop Reports are ordered on an annual basis with no long term commitment.

 

 

Ordering your Real-time RateShop Report is easy.  You click the button below and select your competitors, the products you want to track and then check out.