communicating with customers

Question 1

branch

Answer 1

provide fave to fave contact with the bank but opening times are limited

Question 2

advantages/disadvantages of branches

Answer 2

advantages: personal service, two way communication, familiarity/confidence
disadvantages: only available during opening hours, travel time/costs

Question 3

online banking

Answer 3

allows customers to manage their savings and accounts online via the internet

Question 4

advantages/disadvantages of online banking

Answer 4

advantages: convenient/easy to use, wide range of services, no add on costs such as parking or phone call
disadvantages: services are limited as customers can’t pay in/draw out cash, may forget or share passwords, older generations may lack confidence

Question 5

telephone banking

Answer 5

services are automated, although some accounts allow customers to speak directly to an adviser who can carry out advice/service on their behalf

Question 6

advantages/disadvantages of telephone banking

Answer 6

advantages: convenient, may be easier for some than online banking, no need for internet access
disadvantages: restricted to bank opening hours, old technology, queues and automated responses are frustrating

Question 7

mobile banking

Answer 7

customers manage their accounts through an online mobile app provider by the bank

Question 8

advantages/disadvantages of mobile banking

Answer 8

advantages: available 24/7, can set up alerts, available everywhere
disadvantages: lack of privacy, device can be lost/stolen

Question 9

postal banking

Answer 9

banks still send people paper copies of statements and customers may also pay bills by cheque through the postal system

Question 10

advantages/disadvantages of postal banking

Answer 10

advantages: useful for customers who may not have internet access, some savings accounts are only available via postal banking
disadvantages: cheques may be delayed in the post, most banks are going paperless so people need internet access