Real-Life Decision Making
Customer service representatives (CSRs) at banks often help
customers deal with problems they're having. Customers often request clarification
on month-end service fees. Depending on the institution, there are different
fee structures for clients.
You're a CSR at a bank. At your bank, there are two main personal accounts:
an all-inclusive banking account and a basic, low-fee account.
The low-fee account is great for clients who don't have many transactions.
It allows them 15 free transactions per month. They pay 50 cents for each
transaction after that. The bank charges $4 per month in service fees for
this account.
The all-inclusive bank account allows an unlimited number of bank transactions.
There are other perks too. Clients pay fees when they withdraw money from
other banks' ATMs -- but with this account, clients are refunded for up to
three of those withdrawals. Two free cross-border debits are also allowed
each month. It's great for clients who are on the go. The bank charges $10
per month in service fees for this account.
A customer comes to you with her monthly bank statement. She has a low-fee
account, but her service charges add up to $11.50 this month. Her charges
for the past six months have ranged from $10 to $14. She is confused because
she thought the low-fee account would cost only $4 per month.
"As a CSR, the most exciting part of my job was problem resolution. Clients
often have complaints with banks regarding service and product prices," says
Shruti Jumani. She works on a banking team for a securities company. She came
to the job after gaining experience as a CSR at a bank.
You can see that there's a long line-up building in the bank. It's noon
and many people come to the bank during their lunch break to get their banking
done. You know that clients do not like to wait.
How do you respond to the client?