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JPMorgan's Dimon taking customer pricing hints from Amazon

JPMorgan's Dimon taking customer pricing hints from Amazon
From Reuters - December 7, 2017

NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N) expects to offer more price discounts to its banking customers who buy multiple products, similar to the way Amazon.com gives extras to its Prime subscribers, chief executive Jamie Dimon said on Thursday.

You are going to see more relationship pricing, Dimon said on a Wells Fargo & Co webcast for its clients. We give you more if you are at different levels and tiers, he said - for example, some free stock trades. We may test different types of things.

Like others in the banking industry, JPMorgan gives discounts on mortgages to clients with money at the bank. It has also given rewards from its credit card program to mortgage borrowers.

It has to use such tactics to expand its business since it is barred by law from growing via acquisitions in the United States, as long as it holds more than 10 percent of insured deposits.

Earlier this year Dimon quoted Amazon.com (AMZN.O) founder Jeff Bezos as saying your margin is my opportunity to show how the bank can try to take competitors customers with better deals.

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