B2: Communicating with Customers

Question 1

Advantages and Disadvantages of the Branch

Physical location of bank

Answer 1

Advantages:
Face to face
Advice is given fast (on the spot)

Disadvantages:
Long queues
Restricted opening times

Question 2

Advantages and Disadvantages of Online Banking

Website

Answer 2

Advantages:
Available 24/7

Disadvantages:
Takes a while to set up and get used to
Cant withdraw cash

Question 3

Advantages and Disadvantages of Telephone Banking

Phone call

Answer 3

Advantages:
Convenient to check balance and ask for help

Disadvantages:
Restricted calling hours
Risk of fraud

Question 4

Advantages and Disadvantages of Mobile Banking

Digital bank

Answer 4

Advantages:
Convenient
Can check balance and carry out transactions at any time

Disadvantages:
Would need to download app
Risk of theft (device)

Question 5

Advantages and Disadvantages of Postal Banking

Local banking

Answer 5

Advantages:
Traditional, many customers would prefer this due to familiarity

Disadvantages:
Slow method of banking