The Price is Right
(Customer Pricing)
(Customer Pricing)
What is the minimum deposit to open any of our CDs?
$500
What is the minimum deposit to open a Premier Plus Checking account?
$100
What year was the Retail Incentive Program introduced?
2023
What is the first thing you should do when a customer comes into the lobby to set the proper tone for their visit?
Look up and greet the customer with a smile
What is the easiest way to determine the maximum CD premium a customer/potential customer qualifies for?
Ask the person the questions on the CDPM Question Tree
What is the difference between the interest rate and the APY (annual percentage yield) on a deposit account?
The APY takes into account compound interest.
When is the last day of the cycle for the Premier Plus Account?
How frequently is the DSMR updated?
Everything, except for CD New Money is updated Daily. CD New Money is updated Weekly (typically on Wednesdays).
What is the first step in any account opening process?
Determine the best product for their needs
Why does the Premier Plus Checking account offer such a high rate of interest on qualifying balances under $5,000?
Because the bank net's about 20 cents per debit card swipe, which lowers the overall cost of the deposit account by about 0.50%.
Excluding CDs, what account types have the highest rate for two customers, one with over $100,000 in balances and one with $7,500 in balances?
Premier Money Market and Premium Plus Checking
What is the penalty for not meeting the qualifications on the Premier Plus Checking Account?
There is no Penalty. Also acceptable to say the NQ rate.
Who is ultimately responsible for reviewing the accuracy of the DSMR?
Front-line staff. The UBs & BMs are the ones generating the data on CoreDirector that is contained in the DSMR. The Finance department only reports on the work generated by the DSMR and ensures that the report matches core.
What is something you can do to make selling or relationship building easier?
Know your products
What additional step must be taken when opening up an account for a new Public Fund customer?
Finance needs to be informed so they can get a signed public fund pledging agreement.
What is the program called that allows UBs to offer adjustments on CDs and where is it located?
CDPM (Competitive Deposit Pricing Program) and it is on the shared drive in the Account & Universal Banker manuals folder.
What are the 3 qualifications on the Premier Plus Checking Account?
What are the 5 metrics or goals tracked for the Retail incentive program in 2025?
When referring a customer to another department or employee, what is one step for a warm handoff?
True or False: If all 5 sales metrics were hit every quarter, the Retail Incentive program is designed to pay out over $2,500 per UB?
True, it's $2,900 which is 4x over the historical annual bonus structure.
What CD premiums would a customer with $5,000 in a Premium Plus checking account and $4,900 in a Premier Savings account qualify for?
Keep the business and appreciate the business.
What are the tiers for the Premier Plus Checking Account? (Both Balances and Rates)
True or False: The average Universal Banker earned more through the retail incentive program in 2024, than in year-end bonuses in 2023, after adjusting for inflation.
True. Over 10% more.
What are the top 2 questions to fit the customer into the proper checking account product in an account opening conversation?
For a qualifying customer, what is the breakeven balance for the customer to be indifferent between a Premier Plus Checking account and a Reward Checking account? Must be within $350.
Exactly $3,598.50
So, within $3,248.50 - $3,948.50.