Cues
These are verbal or nonverbal hints that tell you there may be an opportunity to learn more about a customer’s financial needs.
What are customer cues?
Name 3 types of uncommon loan that Commerce offers
CD/Deposit, Stock/Securities, Marine, Power Sports and Equipment, Recreational Vehicle or Trailer, Motorcycle
What task do we need to do on session checklist?
Black out debit/credit card numbers
Name 2 ways a person can use a bank
What is saving, borrowing, paying bill or managing money?
Commerce Cup Regional Champion
What is Roe v. Everybody?
This type of question encourages customers to share more about their goals instead of giving a simple “yes” or “no.”
What is an open-ended question?
This asset is pledged to a lender to secure a loan.
What is collateral?
At what age do we need 2 forms of ID for a customer?
18
What does CTR stand for and when is one required?
Cash Transaction Report
>$10,000 cash transaction per day
What is Gabriella Marie's favorite Starbie drink?
Matcha
A customer mentions they’re “finally taking a vacation after years of saving.” Instead of immediately offering a travel credit card, you should do this first.
Asking follow-up questions to learn more about their plans and financial needs
This type of loan doesn't require collateral and is approved primarily based on the borrower's creditworthiness and DTI
What is an unsecured loan?
Name two acceptable forms of secondary IDs
Major or local debit/credit card with name, College ID of institution where the applicant is currently enrolled, Current Utility Bill bearing name/address used for opening account, Current Rental Contract for current residence, Documentation of home ownership for current residence, US Birth Certificate, Gun Permit,...
This federal agency insures eligible bank deposits in the United States up to the legal coverage limit per depositor, per insured bank.
What is the FDIC?
What is Michael Josheph's weird food preference?
DRY (especially dry biscuits and chicken)
A customer says, “My daughter starts college this fall, so things are about to get expensive.” What should you ask next?
How are you planning for those upcoming expenses?
This credit card feature lets you move debt from one card to another, often to take advantage of a lower promotional interest rate
What is a balance transfer?
How many IDs do we need to open a SBB account?
What are some main ID's that we can use?
3 IDs
EIN letter, Article of Organization, Certificate of Organization, Tax Return, Tax Exempt Certificate, Business License, ...
What does ATM stand for?
Automated Teller Machine
Spell and pronounce Janice's middle name correctly
She thinks it's ARIANNE
Name three intentional open-ended questions a banker could ask after a customer says they’re buying their first home to uncover opportunities where financial solutions may make sense.
What part of the home-buying process are you in?
What financial goals are most important to you as you prepare for this purchase?
How are you planning to manage your down payment, monthly expenses, and emergency savings after you move?
One of these provides a one-time lump sum with fixed payments, while the other allows homeowners to borrow, repay, and borrow again up to a credit limit during a draw period
What is the difference between a Home Equity Loan (HELOAN) and a Home Equity Line of Credit (HELOC)?
Name three reasons to place a Reg CC hold.
New account
Large deposit
Item was previously returned
Repeated overdrafts
Reasonable cause
The common name for a series of laws and regulations enacted in the United States to combat money laundering, terrorism financing, and other financial crimes
The Bank Secrecy Act (BSA)
How many nephews and nieces does Grace have?
5 nephews and 1 niece