Banking Services Advice Line

Roger

Is it a phone job or an in-branch job?

EDIT: OK, so you’re a personal banking assistant. Don’t expect a teller-type position – people will ask you why, often, rather than what.

Selling banking products isn’t particularly hard, especially with Chase’s current aggressive acquisition marketing plan (i.e., direct mail solicitation, phone solicitation, and radio / television prime time commercials). When I say “not particularly hard,” I mean compared to other things you could be trying to upsell – used cars, for example.

Banks have “packages” you try to sell to the customer that offer discounts based on multiple product relationships (the reason they have these packages is not only for cross-sell opportunity but also to be sure the discounts are in compliance with regulations and risk, especially for “non-traditional” banking products). That makes it easy if you can spot the missing products and figure out what the real benefit to the customer will be – will it waive service fees? Save time? Offer additional benefit (like a rewards program)? Think about what you would want from your bank, or why you would go with whatever you’re pitching. It shows if you believe it is a good value.

The best thing you can do is be knowledgeable and confident – and don’t be afraid to say that you want to double-check the answer. People tend to want the right answer more than they want a quick answer (although that doesn’t hurt either).

If you’ve never had that particular type of account or are not familiar with how some sort of bank process works, ask someone who would know and take notes. Just being familiar with check processing, for example, will help you help customers.

Face-to-face, there are probably two major types of people you will talk to – those with a problem they want you to help fix and those who need a service from the bank.

The first type of person just wants a screw-up fixed and explained – and in this case, fixing it right and knowledgeably is important, as is empathising with their situations. Depending on how your branch operates, if you want to make a real impression, call the customer back. Give out business cards. People remember that you were able to help them.

For the second type, this is where your sales skills and knowledge of the products your bank offers will shine. Ask questions to understand their particular situation. Over time, you’ll start to pick up on the right questions to ask. Suggest what you think will fit them – but give options.

I’m not sure how much of the initial customer contact will be taken care of by the personal banker and how much of your job will be follow up and paperwork.

Oh, and one piece of advice especially important in banking (money is a high sensitivity topic) – Under promise, over deliver. If you think you can have it done by the end of the day, say you’ll have it done tomorrow. That way, if something comes up, you’re at least fulfilling your promise – if you are able to get it done by the end of the day, you’ve just wow’ed the client.

Something to expect with the “ebb and flow” of business… According to my stepdad (who was a branch manager for a bank for about 10 years and in banking for over 30), you’ll see people on the day after Thanksgiving that don’t step foot into a branch otherwise, just for routine things they need to get done – so expect it to be busy (sometimes it is, sometimes it isn’t). Also, quarter 4 (Oct – Dec) is busy for personal banking and products. Quarter 1 (Jan – Mar) is generally busy for business banking and products. Both types generally slow down over summer as people are off on vacation.

I hope some of that helps!

Paula

What sales department are you going to work? Is it more telemarketing or outside sales..Let me know, I probably can help you out! Good Luck with new position!