Communicating with customers

Question 1

Advantages of communication at a branch

Answer 1

Personal service
2 way communication
Familiarity and confidence
May help customer understand more

Question 2

Disadvantages of branch communication

Answer 2

Only available during opening hours

Travel time/costs incurred by customer

Question 3

Advantages of online banking/mobile banking

Answer 3

Available 24/7
Available at any location(e.g at work, at home)
Can set up alerts
No add on costs such as parking

Question 4

Disadvantages of online/mobile banking

Answer 4

Lack of confidence
Dependent on internet access
Security risks
Can’t withdraw cash

Question 5

Advantages of telephone banking

Answer 5

Easier than internet banking for some
Speak to a real person
No need for internet access
Convenient(call from anywhere)

Question 6

Disadvantages of telephone banking

Answer 6

Restricted to bank opening hours
Queues/automated response boards makes experience frustrating
Call centres may not be in the UK
Old technology

Question 7

Postal banking advantages

Answer 7

Permanent record of transactions
Dont need internet/devices
Easy to understand
Confident due to it being traditional

Question 8

Postal banking disadvantages

Answer 8

Slow
Can be lost/stolen
Lack of confidentiality as it can be opened by others
Identity theft if stolen/destroyed