Dummies guide to selling pnc checking accounts

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  • 1. Dummies Guide to Selling PNC Checking Accounts PNC BANK Teller Training Chad Swing
  • 2. Goals
    • Underestand basic differences between various PNC checking accounts
    • Learn to spot customers’ verbal cues
    • Increase referrals by increasing product knowledge
  • 3. Foundation Checking
    • No monthly service fee or balance requirement
    • $100 daily withdrawal and POS spending limit
    • $.49 money orders
    • This account is meant for those customers who owe money to other banks
    • Do not lead with or recommend this product at the teller line
  • 4. Free Checking
    • No monthly service fee or balance requirement
    • All checking accounts come with a free PNC Check Card
    • All checking accounts receive free PNC ATM transactions
    • All checking accounts come with free online banking, free online bill pay and free mobile banking
    • This account is meant for customers who are only interested in cashing their check
    • Do not lead or recommend this product at the teller line
  • 5. Virtual Wallet Checking
    • No monthly service fee or balance requirement
    • Three accounts work together as one.
    • SPEND account is primary checking
    • RESERVE account is an interest-bearing checking account for short-term savings
    • GROWTH account is for long-term savings
    • All accounts from here on out come with an Online Statement option
    • All accounts from here on out receive free Overdraft Protection setup and free OD transfers
    • This account is meant for those customers who are looking for a completely integrated online experience
    • Good recommendation for college students and young couples
  • 6. Virtual Wallet Performance Checking
    • $1500 combined average monthly balance in SPEND and RESERVE accounts OR
    • $10,000 combined average monthly balance in all deposit and credit accounts OR
    • Monthly Direct Deposits greater than or equal to $2000
    • $10 monthly service fee if none of the above requirements are met
    • All accounts from here on out receive free banking rewards program (PNC POINTS)
    • All accounts from here on out receive free PNC exclusive checks
    • All accounts from here on out receive Bonus rates on savings and CDs
    • All accounts from here on out receive annual fee waivers on HELOCs and PLOCs
    • All accounts from here on out receive free Travelers Cheques, free Cashier’s Checks and free Stop Payments
    • Identity-theft reimbursement insurance up to $5000
    • $10 annual discount on Safe Deposit Boxes
    • This account is ideal for tech-savvy couples and individuals who are financially established and looking for a banking relationship with perks
  • 7. Performance Checking
    • $1500 average monthly balance in checking OR
    • $10,000 combined average monthly balance in all deposit and credit accounts OR
    • Monthly Direct Deposits greater than or equal to $2000
    • $10 monthly service fee if none of the above requirements are met
    • Notice that balance and direct deposit requirements are exactly the same as the requirements for VW Performance
    • That is because VW Performance and Performance are exactly the same with regards to requirements and features/benefits
    • The only difference is that Performance is meant to be sold to individuals and couples who do not plan on using the online banking and bill pay features offered by the bank
  • 8. Performance Select Checking
    • $5000 average monthly balance in checking OR
    • $25,000 combined average monthly balance in checking, savings and investment accounts
    • $25 monthly service fee if none of the above requirements are met
    • Has all the same features/benefits as the Performance account plus the following:
    • Free non-PNC ATM transactions
    • Identity-theft reimbursement insurance up to $10,000
    • $100 annual fee discount on Safe Deposit Box
    • Free Domestic Wire Transfers
    • This account is meant for those individuals who have accumulated significant wealth and are willing to leverage that wealth for maximum benefits/perks
  • 9. Summary
    • PNC has checking accounts to meet the needs of everyone
    • As a teller, you are not required to know the ins and outs of every product
    • You are required to know enough to answer basic customer questions and make appropriate recommendations
    • Never lead or recommend Foundation or Free checking accounts; bankers will down sell these accounts when it becomes clear the customer is not interested in anything else
    • Relax and have fun; being uptight and nervous negatively affects the customer experience
  • 10. Resources
    • PNC Intraweb/Products
    • Branch Manager – Pete Allen
    • Teller Supervisor – Barb Fennelly
    • Other Employees