Communicating With Customers Flashcards
What are the 5 methods of communication ?
-branches
-online banking
-telephone banking
-mobile banking
-postal banking
Advantages of bank branches ?
-more trusted as face to face
-can physically cash in money
-access a wide range of services
-opportunity to build a relationship which helps to develop trust with service
Disadvantages of bank branches ?
-limited opening times
-less accessible in rural areas
-time dependent
-have to travel so high travel costs
-long queues , travel , time consuming
Advantages of online banking ?
-access your money and banking services anywhere anytime
-access a wide range of services
-convenient
-high degree of privacy
Disadvantages of online banking ?
-could leak information if use public WiFi / Hacked
-cannot deposit cash / not suitable for cash withdrawals
-system malfunctions can cause online bank system to become unreliable
-facilities may be limited
Advantages of telephone banking ?
-easy to use , with prompts guiding you through the next steps
-convenient as doesn’t have opening tunes ,access 24/7
-no additional charges
Disadvantages of telephone banking ?
-risk of fraud or scams as is hard to verify person on the other end
-weak security
-limited access in areas with poor signals
-automated systems frustrate customers
Advantages of mobile banking ?
-improved customer experience as 24/7 access
-range of services available
-check balance anywhere at anytime
-no additional charges
Disadvantages of mobile banking ?
-requires a smart phone and internet connection
-security risks - fake messages , scams
Advantages of postal banking ?
-traditional method so what some customers feel comfortable with
-doesn’t require the use of technology - good if live in remote areas
Disadvantages of postal banking ?
-delay in information
-documents can get lost or stolen
-can be slow due to postal systems
