FRAN
F
FREE
This account has no monthly maintenance fees and no minimum balance!
The number of debit card swipes a member needs to have post and settle within the cycle to qualify for Cash:
12
This is what happens when the Member does not qualify for rewards
The account is still free, they earn the base APY in Cash and Saver and they can try again next month!
Potential root causes for "I'd prefer paper statements"
*EXTRA 100 POINTS FOR SOLUTION
Concerned about information security
Prefers a printed statement for record keeping
I don't know how to enroll in Estatements or pull it up when it's ready
Handling Objections- eStatements
Role play scenario with me
R
REWARDS
This account rewards you with...
This qualification encourages engagement from the member.
Online Banking Login
This is the reward for qualifying in Cash
The Member earns 5.00% up to $15,000, .25% above $15,000, and Nationwide ATM Fee Refunds
Potential root causes for concerns over having to qualify
*EXTRA 100 FOR SOLUTION TO OBJECTION
Skepticism- sounds too good to be true. How can you pay these rewards out?
Why do I have to do all this to get the rewards?
I've had an account here for years, doesn't that count as a qualification
Role play FRAN
Roleplay this with me
A
ASK TO QUALIFY
To qualify we ask that you do a few simple things you may already be doing.
This qualifier is in place to SAVE the Credit Union money. Hint: it's electronic
E-Statements
Did you know a paper statements cost about $2.15 and an e-statement cost about 15 cents!
This is the reward for qualifying in Cash Back
The member earns 4.00% on debit card purchases up to $200 for a max reward of $8.00, and Nationwide ATM Fee Refunds
Potential root causes for not wanting online banking.
Security
Not sure how it works
Account Opening Conversation- Offer Saver
Role play with me-
Kasasa Saver is our free savings account that attaches to your Cash or Cash Back checking account. When you qualify, your rewards automatically sweep into your Saver account. You earn a higher interest rate in Saver vs a standard savings account
N
NO PENALTY
No penalties for not qualifying! Your account is still free and you can try again next cycle
This qualification makes the credit union money.
Debit Card swipes
The reward in Saver when the member qualifies in Cash or Cash Back
The member earns 1.00% on their balance up to $100K and 0.50% on the balance over $50K
AND
Their Cash or Cash Back reward is swept into their Saver account where they earn interest on it!
Potential root causes for "I don't use a debit card"
*EXTRA 100 PTS IF HAVE SOLUTION IN MIND
Concerned about safety or fraud
Prefers their rewards credit card
Prefers cash
Prefers to use cash for budgeting
Doesn't think they can use it 12 times
Doesn't understand how debit cards work
Account Opening Conversation
Role play Build Rapport and Determine Needs
What is the acronym we use to help remember the details of the Kasasa account
FRAN
This is how the MEMBER qualifies for rewards in Saver.
No separate qualifier for Saver! As long as they meet the qualifications in their Cash or Cash Back , they qualify for Saver rewards
What is the Average Balance that makes Cash the Better Account?
$2,000
This is the first step in handling an objection
Ask why to determine the root cause of the objection.
Account Opening Conversation
Role play Present Products and Ask for Commitment