My Door is Always Open
What is a benefit of using open-ended questions?
You learn more, get more details and specific answers about the customer.
What is a HOT Button?
A customer emotional trigger.
What is a Certificate of Deposit?
A Certificate of Deposit is FDIC insured savings account that has a fixed interest rate and maturity date.
What is the age range requirement to open a Student Checking Account?
13-23 years old.
What is the definition of Features?
Features describe what a product of service does; Features are 'the what' the customer is getting.
Name a disadvantage of asking closed ended questions.
They don't tell you a lot; You would need to ask more questions to get additional information; The customer can give you yes/no answers.
Judy has a busy schedule and needs to access her accounts on the go. What is most likely is her hot button?
Technology/Convenience
The Access Checking Account provides how many boxes of check to the customer each year ?
None. This is check-less checking product.
Explain the Penn Community Bank ATM surcharge for any checking account.
There are no Penn Community Bank ATM fees; however other financial institution fees may apply.
What is the definition of Advantages?
Advantages explain the significance of a feature and how it solves a problem. Advantages are 'the how' the feature provides value to the customer.
Name three words that can be used to start an open-ended question.
Who, what, Where, When, How, Describe, Tell me
Felix is a customer who is on a fixed income and is worried about interest rates? What is his hot button?
Earn Money/ Ecomony
Explain Penn Community Bank's structure as a mutual bank and what makes us different.
We aren’t publicly traded and are not beholden to shareholders, we have the freedom to put the needs of our customers first in everything we do. That means we can make decisions locally and with long-term goals in mind, not short-term profits.
Name one of the minimum balance and/or activity requirements a customer must meet in order to open a Relationship Checking Account.
Maintain an average daily checking balance of $1,500 OR Combined deposit and/or actual loan balances of $15,000 + OR Monthly direct deposit of $2,500 OR Primary account owner age 50+
What is the definition of Benefits?
Benefits describe how a product or service will change the customers life. Benefits are the 'the why' the value matter for the customer.
A good introduction/greeting and conversation with a customer are important. Why?
Establishes a relationship that leads to understanding the customer- who they are, what is happening in their lives and helps to discover and uncover a customer's financial needs.
John is a very busy person and want 24/7 access to his accounts. What most likely is his hot button?
Flexibility/ Convenience
Why is it important to understand how many banks a customer uses for their financial needs?
By understanding the number of financial institutions, a customer uses it helps us to look for opportunities to move those accounts and business to Penn Community Bank to deepen our relationship with that customer.
What is Access Checking?
Access Checking is a check-less fresh start option for customers who may not qualify for a standard account type due to imperfect banking history.
What is an easy phrase to use to link features and advantages to a benefit?
"So you....?"
What percentage of time should be spent on listening to our customers?
80%
Kim has three school age children. All the children are planning to attend college. What is her hot button?
Save Money/ Economy
A customer's financial life journey has three stages. Name them.
Grow- Protect- Enjoy
How does a Common Cents Savings Account work?
For every purchase made with the TRO's debit card, the rounded-up cents will be transferred from the customer's checking account into the savings account.
Earning interest on a checking account is a feature. What is the advantage and benefits of earning interest?
Advantage - interest is paid on the balance.
Benefit - the customer will earn extra money on the account.