FRAN
F
FREE
This account has no monthly maintenance fees and no minimum balance!
The number of POS swipes a customer needs to have post and settle within the cycle to qualify.
15
This is what happens when the customer 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"
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 is what the customer is sent monthly to let them know if they qualified or not
This is the reward for qualifying in Cash
The customer earns 6.00% up to $25K
Potential root causes for concerns over having to qualify
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
Handling Objections- Debit Card
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 bank 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 customer earns 6.00% on debit card purchases up to $200 for a max reward of $12.00, and up to $25 in ATM Fee Refunds
Potential root causes for not wanting to set up a Direct Deposit
Payroll Direct Deposit goes somewhere else
Self employed and don't receive Direct Deposit
Doesn't know HOW to switch their Direct Deposit
Company doesn't offer Direct Deposit
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 (0.75% up to $25K, 0.35% over that)
N
NO PENALTY
No penalties for not qualifying! Your account is still free and you can try again next cycle
This qualifier is in place to create more engagement from customers, making it a stickier account
ACH Debit or Credit
The reward in Saver when the customer qualifies in Cash or Cash Back
The customer earns 2.00% on their balance up to $100K
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"
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 15 times
Doesn't understand how debit cards work
Account Opening Conversation
Role play Build Rapport and Determine Needs
FRAN
Free, Rewards, Ask to Qualify, No Penalty
This is how the customer qualifies for rewards in Saver.
No separate qualifier for Saver! As long as they meet the qualifications in their Cash or Cash Back account, they qualify for Saver rewards
The base rate in Cash and Saver when the customer does NOT qualify in Cash or Cash Back
If the customer does not meet their qualifications, they will still earn 0.05% in both Cash and Saver.
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