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BofA > Senior Banker > Flashcards

Senior Banker Flashcards

1
Q

Budget and Saving

Questions to ask to better understand needs

A
  1. Talk to me about your expenses so we can look for ways to help your budget
  2. What are you saving for and when do you want to achieve this goal?
  3. What is getting in the way of your savings goals?
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2
Q

Save for retirement

Questions to ask to better understand potential needs

A
  1. When do you want to retire?
  2. Have you started a retirement plan?
  3. Who is helping you with your plan and ensuring you that you are reaching your goals?
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3
Q

Travel

Questions to better understand potential needs

A
  1. Where do you want to travel? When are you planning on going?
  2. How much do you want to save for the trip?
  3. How often do you plan to travel in the future?
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4
Q

Improve credit

Questions to better understand potential needs

A
  1. Tell me about your current credit score?
  2. How are you currently working on improving your credit?
  3. Is anyone currently helping you with that goal?
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5
Q

Start a new job

Questions to better understand potential needs?

A
  1. Is this a new field for you? Are you taking any courses to help get you there?
  2. Will you need to save in advance of this change?
  3. How will this new job help support your savings goal?
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6
Q

Save for a large purchase

Questions to ask to better understand potential needs?

A
  1. What are, you saving for? How much will you need to save and by when?
  2. Have you started to save? How much have you saved so far?
  3. Talk to me about your savings plan, are you saving monthly/weekly?
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7
Q

Target offer: Credit Card

Questions to ask if target is a good fit

A
  1. What specific card is the client currently using?
  2. What is the client trying to accomplish with the card they use?
  3. What specific benefits of the competitor card does the client use?
  4. What are the limitations and restrictions of the card?
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8
Q

Target offer: Home loan (non-homeowner)

Questions to ask to see if offer is a good fit

A
  1. Do you plan to purchase a home in the future?
  2. When do you plan to purchase?
  3. What is holding you back from doing so now?
  4. How well do you understand the process?
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9
Q

Target offer: Home Loan (homeowner)

Questions to ask to see if offer is a good fit

A
  1. What is the current value of the home?
  2. What is the current balance of the mortgage
  3. What is the interest rate?
  4. What other outstanding debt do they carry?
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10
Q

Target Offer: Savings

Question to ask if offer is a good fit

A
  1. Besides your accounts at Bank of America, where else do you Bank?
  2. What major upcoming purchase or priority are you most concerned about saving for?
  3. Where do you have your retirement plan?
  4. When was the last time you had someone review your investment plan to provide a second opinion?
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11
Q

Questions to ask while going over life Plan

A
  • What is your time frame for achieving that priority?
  • How well do you feel you are progressing toward that priority?
  • what help are your getting or do you need to achieve your goal?
  • What are your biggest concerns or fears about achieving that goal?
  • are there financial hurdles holding you back?
  • what challenges or opportunities do you expect once you achieve that priority?
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12
Q

Target Offer: Preferred Rewards

Target questions to determine offer might be a good fit

A
  1. Are you familiar with the benefits of our preferred rewards program?
  2. Besides your account at BOA, where else do you Bank?
  3. Do you get any sort of relationship rewards with the accounts you have at other banks?
  4. Can I show you the power of consolidating your balances with Bank of America?
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13
Q

Target offer: Auto Loan

Questions to ask if target offer is a good fit

A
  1. Do you currently have a car loan?
  2. What is your current interest rate?
  3. How long before you plan to pay it off?
  4. Do you plan to purchase a car in the near future?
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14
Q

Target offer: Digital

Questions to ask to see if offer is a good fit:

A
  1. How do you currently keep track of your accounts and balances?
  2. How do you deposit your paycheck?
  3. How do you make payments for bills or pay other people?
  4. Have you used our spending and budgeting tool?
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15
Q

Types of Business Debit Cards

A

Business Debit
Business Employee: something as a regular business debit but the limits are a lot lower ($100 withdraw limit and $400 purchase limit (Daily))
Business Deposit Only: good for “runners” deposits only

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16
Q

Why Merchant Services

A

Optimize Cash Flow: accept credit, debit and virtual cards. Store cards securely on-file, keyed contact-less and recurring payments. Access to funds same business day
Simplify Banking: view and manage merchant services account from one place. 24/7 US based tech support and merchant consultant at your service.
Strengthen Business operations: built-in loyalty programs, offers, discount and promotional functionalities and email marketing. Inventory, sales and profitability reports. Multi-location management and tax reporting tools

17
Q

Know the Business

A

“I’d like to learn about you, your business and your unique goals”
1. Tell me how you got started in this business?
2. Tell me how you manage your day-to-day banking?
3. Tell me more about the key products and services you provide to your customers.
4. What challenges is your business facing now or do you see in the future?
5. What other banking relations do you have?
6. What strategies do you have in place to grow your business?

18
Q

Business Credit

A

“It’s typically easier to plan for and establish gaining access to capital before you really need it.”
Let’s talk about how you currently leverage credit:
1. How do you currently manage unexpected expenses?
2. What expenses or purchases are you planning or anticipating?
3. Tell me how you are currently leveraging credit for your business?

19
Q

Business Cash Flow

A

“Optimizing cash flow is important for every business. Let’s talk about how you currently manage payables and receivables”
1. Take me through your everyday banking.
2. Let’s review cash flow (How money goes in and money comes out)
3. What challenges, if any, have you experienced with your current payment process?

20
Q

Business Employees

A

“A strong employee base is paramount to strengthen business operations. Let’s talk about your current staffing and their functions”
1. How many employees other than you do you have?
2. What plans do you have to hire?
3. How do you process payroll?
4. How do you keep up w/ changes to labor guidelines?

21
Q

Business Employees

A

“A strong employee base is paramount to strengthen business operations. Let’s talk about your current staffing and their functions”
1. How many employees other than you do you have?
2. What plans do you have to hire?
3. How do you process payroll?
4. How do you keep up w/ changes to labor guidelines?

22
Q

Future Plans: Business

A

“When business owners have a plan for the future it usually includes both business and personal goals. We have guidelines for both”
1. Tell me your long-term goals for you and your business?
2. Tell me about your current banking relationship. Do you have accounts outside Bank of America?
3. My role is to support your business as well as you. Tell me about your personal finances.
4. What are your short and long-term savings goals. Any upcoming life events for you or your family?

BofA (24 decks)

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