Real-Life Decision Making -- Solution
Explain why she receives those charges and move on to the next client
As a banking customer service representative (CSR), you often
answer questions about service charges. A customer comes to you with her monthly
bank statement. She wants to know why her fees are so high.
The bank is filling up with busy people on their lunch breaks. You decide
to take her question at face value. You explain the fee structure of the account
she has. It includes 15 free transactions per month and costs $4 in service
fees each month. You show her that she made more than 15 transactions this
month. Each additional transaction costs her 50 cents. She is also charged
a fee whenever she uses the ATMs belonging to other banks. And that's why
her fees are so high.
She understands and accepts your explanation. She leaves, and you quickly
move on to the next client. However, three days later the client closes her
account with your bank and moves her account to a competitor. She was not
happy about having to pay such high fees.
"Most times, the discontent stems from being unaware of cheaper alternatives
or lack of knowledge when signing up for certain products," 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.
Jumani says it's important for CSRs to help their clients choose services
that suit their needs.