BANK/CREDIT UNION SHOPPING GUIDE This guide will cover some basic rules, how to’s and hints you can use when shopping banks and credit unions. It will answer most of your questions about bank shopping assignments. However, please refer to the individual special instructions for the specific bank you are assigned to shop, as each bank has it’s own guidelines. Your job as a shopper is to conduct a transaction and/or inquire about bank services and products just as any customer would. You do not have to know a lot about banking. You should inquire as though you were really interested in finding out more about it. In order to do this, you simply provide them with a ―customer‖ opportunity for them to practice their skills. NEVER let them know you are a shopper or be obvious in any way. You must be natural. After the contact, you will complete a form that evaluates customer service, sales and/or product knowledge skills. Obviously, the exact steps may vary according to the employee’s job—a teller would not normally open accounts or spend a lot of time selling; they would give a few details and refer the customer on to a banker. A personal banker would not normally process a deposit or cash a check; tellers handle those transactions. SOME BASIC RULES: 1. DON’T give yourself away as a shopper! Don’t tell anyone you are shopping. If someone asks you if you are a shopper, act surprised and like you don’t even know what mystery shopping is. 2. NEVER take any shopper forms or instructions into the bank. DON’T keep them in car where a drive-thru teller could possibly see them. 3. DON’T just rush in, ask a quick question and rush out. DON’T act like you don’t want to discuss; if you have a limited amount of time you can tell them. Act like you are really interested in the service. Drop realistic hints and make your ―story‖ seem real. It is best to use something you are comfortable with. You don’t have to know a lot about banking-real customers don’t. You can use this as an opportunity to learn financial info that can help you personally. The ―hint‖ is the most important part – that is where they learn to pick up on sales opportunities. 4. DON’T SHOP MORE THAN 2 PEOPLE AT THE SAME OFFICE IN THE SAME DAY; do not shop 2 people of the same job type on the same day. You can shop a teller, then go to a banker, but don’t shop 2 tellers in one day at the same office or 2 bankers, etc. These people aren’t stupid— remember they know they are being shopped, so they catch on to the obvious. A real customer would probably not come into a lobby teller then leave and immediately go through the drive in. 5. ALWAYS get the person’s name that you talk with. The only exception is that some drive-thru tellers cannot be clearly seen from your car. In that case, attach a copy of your deposit receipt or write down on the form all the numbers (except your account number) from the receipt. These can ID the teller. Also, put their location (1st lane on right, etc.) When you go into the bank; ask their name during your conversation, IF they do not have a nametag or nameplate. Or, a good trick is to ask them the time; when they look down at their watch, you can grab a quick look at their nametag. DO NOT BE OBVIOUS IN READING TAGS! If it is just impossible to get their name, put a good description (without being insulting, please—i.e. heavy, old etc) and their location so bank managers can figure out who it was.
THE BEST ADVICE FOR A GOOD SHOP IS: Imagine you are the bank manager and your boss has directed you to be sure that all employees provide this kind of service. You would depend on the mystery shopper reports to tell you what areas your staff is doing well and what areas they need to work on. Performing your shopping assignment accurately and filling out your form completely and thoroughly helps them do this!
BANK SHOPPING SPECIFICS When we want you to do shops, we will send you an assignment e-mail. This assignment will show which office, what person/department, what question/transaction to ask/do and what type of shop either telephone or visit. The assignment will refer you to our website for specific instructions and questionnaires for the assignment. READ INSTRUCTIONS EVERY MONTH! They do change at times and every bank has different instructions. The instructions will always be available on–line; you can print them out to refer to if you like. You should only do the shops assigned to you in the e-mail, so review it carefully, too. Typically, you will get one e-mail for each shopper report to complete. Your Account Rep needs a reply from you stating if you received the assignment AND whether you accept or do not accept the shop. If you need extra time, please let the Account Rep know. If you get the shop done and entered by the 15th you will be paid for it the same month. Any shops received after the 15th will be paid on next month's check (approximately 45 days). Bank shoppers do teller transactions, inquire about any kind of new account, inquire about any kind of loan, and inquire about any other bank service and drop hints about their possible needs now or in the future. Every contact doesn’t have to be extremely involved; it can be a basic fact-finding contact. You should vary your hints and questions, so you are not asking the same thing over and over. INQUIRY = what you ask about outright HINT/CLUE = stating something that MAY mean you need bank services There are 3 basic types of shops we do – each type has its own form to fill out: 1. TELEPHONE: call the bank; ask for the correct department and make your inquiry 2. TELLER: visit the bank and see a teller – your assignment will tell you whether it is a lobby or drive-thru teller 3. PERSONAL BANKER/SERVICE REP: visit the bank and see someone at a desk (not a teller); your assignment will tell you whether it should be a new account, loan, safe deposit box or other inquiry. Some banks do have other specific shops such as receptionist, Bookkeeping/Customer Service, etc. ALWAYS CALL US at 1-800-259-8551 or 918-251-0154 OR email your account rep if you have any questions about your assignment or if you cannot do all the shops you are assigned. DO’S & DON’TS: Do not ask for tellers, bookkeepers, or customer service people by name when visiting – they will be very suspicious of you!! Be creative and try to fit in as a normal customer; perhaps stand at a display or check writing stand nearby to see names before going up. Try to shop the bank employee shown on the assignment. You can ask for the person by name when shopping by telephone EXCEPT for the person shown as the switchboard operator. We must have the
employee's name; so if you are not told their name, ask it at the end of the contact, in a conversational manner. It is usually OK to ask for a Personal Banker by name, as if you had called first or had talked with them before. HOW TO SHOP BY TELEPHONE If there is only one number for all areas of the bank, call the main number and ask the operator to be transferred to the ________ department or office. After the transfer you need to verify that you are talking to the right place. REMEMBER: Some banks have several offices so this is very important. Make your inquiry according to your assignment. Handle the initial request as an inquiry about a service provided by that department. Be sure to ask a couple questions and sound ―GENUINE‖. You want to give them a chance to practice their skills. During the call, be sure to drop a hint/clue or make a second inquiry if your instructions tell you to. 1. YOU MUST GET THEIR NAME!!! It’s easy on the phone—just ask them their name at the very end. It won’t matter at that point if they think you are a shopper, because the call is done. Most will say their name when they answer the phone, but if you are unsure whether they said Terry, Sherry Mary, etc, CONFIRM THEIR NAME at end of call. YOU WILL NOT GET PAID FOR ANY PHONE SHOP WITHOUT A NAME OR WITH AN INCORRECT NAME. NO EXCEPTIONS!! Phone shops are easy – you can take notes; you can use a fake name if you want. If they offer to mail you information, you can have it sent if you really want it. If you don’t want it, just tell them you’ll come into the office to pick up some info. Just don’t count against them if they offer to send it, but you say no. They should get credit for the OFFER. Don’t cut them off too early by saying you are coming in BEFORE they have a chance to complete their full try at serving your needs. MOST BANKS HAVE CALLER ID. YOU CAN USE *67 BEFORE YOU DIAL THE BANK’S NUMBER TO BLOCK YOUR HOME PHONE OR YOU MAY CALL FROM YOUR CELL PHONE WHICH USUALLY DOESN’T DISPLAY YOUR NUMBER.
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Phone calls can be tricky if you are transferred to a second (or third) person. The forms we have generally allow you to evaluate just one person—sometimes a form may have a FIRST IMPRESSIONS/FIRST CONTACT part: if so, that covers the operator. Evaluate the MAIN PERSON WHO HELPED WITH YOUR INQUIRY. If you speak to any other bank employee, just make brief comments on them in the comments section. HOW TO SHOP TELLERS (visits only)
You may have to do BOTH a TRANSACTION and an INQUIRY/HINT OR CLUE – see your assignment and instructions. STEP ONE: DO TRANSACTION: transactions include: - Deposits, withdrawals, cash checks or payments on accounts you may have at this bank - Visa card cash advance* - Buy a cashier check, money order or travelers checks (fees may be involved)* - Approach teller with a check made out to cash – they may cash it for a fee for non-customers or may not*
Get change for a $10 bill or larger or buy a roll of coins* – DO NOT TAKE IN COINS TO BE TRADED FOR BILLS - Any other transaction you may really need to do at a teller *Do one of these ONLY if you do NOT have any account at this bank STEP TWO: MAKE AN INQUIRY OR DROP A HINT/CLUE (IF required by your assignment) INQUIRY: Ask outright about a bank account or service, acting like you really are interested and need it HINT/CLUE: Make a statement that ―hints‖ at your banking needs now, or in the future DRIVE-IN TELLERS: It is a little harder to see their names and to converse with them. Be sure to put their location if you cannot get a name (3rd lane, etc). Try not to shop at a busy time. Use a simpler inquiry or clue such as asking for a brochure, list of CD rates, if they make car loans or have safe deposit boxes, etc. If you are Not a customer, you can try to cash a check. They will probably refuse, but that is a clue in itself, as it gives them an opportunity to sell their bank to you. A good place for ideas is to look at the bank’s advertisements such as signs, TV, marquees and banners. HOW TO SHOP PERSONAL BANKERS (visits only) Look at your assignment –it will tell you what department to visit. A banker is someone at a desk. BE SURE TO VISIT THE PROPER DEPARTMENT (loans, new accounts, investments, etc.) Your main inquiry should fit the department assigned – your hints/clues or secondary inquiry can be about any other bank service. YOU MUST MAKE AN INQUIRY (initial request) and drop a clue/hint if assigned to do so. 1. Visit the bank and go to the assigned department. You might have contact with a receptionist, teller or other employee while trying to get to that department. Some reports may ask a few questions about the first person you come in contact with but the majority of the report should be completed on the MAIN CONTACT—the employee who answers most of your questions. Be aware that if you go at a busy time, you may have to wait a few minutes to see the right person-so plan for this. You may want to avoid going between 11am-1pm. The bank phone numbers are generally provided; you could call in advance. 2. Make your inquiry as assigned, ask several questions and have a CREDIBLE, believable story so you do not seem suspicious or fake. THEY ARE AWARE OF MYSTERY SHOPPERS—so act just like you really are interested in the service. Give them a fair chance to sell you on their bank and its services. 3. At any time during the visit, make a second inquiry or drop a hint/clue in conversation, to give them the full opportunity. Example: You visit a loan officer, asking about making a car loan. While discussing the loan, you mention you are new to the area, getting a tax refund, unhappy with your current bank, etc. OR, you might just come right out and say you are thinking of moving your CD-do they have pretty good rates right now? That would be a direct inquiry, the second inquiry.
HOW TO SHOP BANKS INSIDE GROCERY OR OTHER STORES Many banks now have offices inside Wal-Marts and other stores (called an IN-STORE BANK). Look at your assignment – it will tell you if you are to do a TELLER visit; NEW ACCOUNT visit or LOAN visit. These locations are usually so small; they don’t have different ―departments‖. Instead, generally every employee at that office is trained to do ANYTHING—teller, new account, and loan. Your main inquiry or request should fit the department assigned – your hints/clues or secondary inquiry can be about any bank service. HOW TO SHOP CREDIT UNIONS Credit unions are somewhat different than banks. A person is a ―member‖ not a customer. You must be eligible to ―join‖ before you can open an account. Eligibility requirements differ for each credit union; always refer to specific instructions. Personal Bankers are usually referred to as MEMBER SERVICE REPRESENTATIVES OR MEMBER FINANCIAL OFFICERS. The MSR/MFO will handle all inquiries about loans, new accounts, CD’s, investments, IRA, etc. Always refer to your assignment sheet for your specific inquiry. COMPETITOR SHOPS Some of the banks ask us to shop their competitors, to use as training and comparison. If we require you to shop a competitor, your assignment will have the name and address of the other bank on it, as well as the type of shop to do. Do this EXACTLY like you would for the client bank, but go to the competitor shown instead. CROSS SELLING Nearly all reports have at least one question about cross-selling. Example: ―Did they mention other products/services that you did not ask about?‖ The bank employee must discuss OTHER PRODUCTS/SERVICES YOU DID NOT ASK ABOUT DIRECTLY. Just discussing what you specifically ask about would not earn a yes for this question. Example: if your scenario is to ask about savings accounts, they have to discuss those but also have to discuss ANY OTHER TYPE OF SERVICE/ACCOUNT to earn a yes. Just mentioning 3 different kinds of savings accounts does not count. Some forms may also have questions about FEATURES and BENEFITS. You need to know the difference between these two items: FEATURE: a specific concrete item about the product: rate, term, minimum to open, etc. BENEFIT: an abstract item that is used to explain why you need the product: your money will grow because it’s earning interest, you are learning good habits by saving money, etc. MAKING INQUIRIES ALWAYS check your assignment and make the inquiry you are told to. If we assign you new accounts and you do loans, we may not be able to accept your report. An INQUIRY is an outright question about banking services. Examples:
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Do you have a checking account that pays interest? How much does it take to open a _______ account? (Savings, checking, CD, money market, etc) What is the CD rate this week? Do you make ____ loans? (Car, boat, home, home improvement, student, business, etc) Do you have safe deposit boxes? Do you have investments here that pay more interest than CDs? Do you have IRA (retirement savings) accounts? I want to get some information on ________ (account, loan, any other service) Pick up a brochure at the bank – it will show what they offer and give you ideas. Take the brochure up to them and ask about something in the brochure. Ask about any other banking need you may have
Just be sure you ―act‖ like you really need it, asking realistic and interested questions. IF YOU ARE SHOPPING OUTSIDE OF YOUR NORMAL AREA ―PRETEND‖ THAT YOU WORK/LIVE CLOSE BY; SO FAMILARIZE YOUR SELF WITH THA T COMMUNITY. Don’t tie up a teller for a long time with allot of questions – just make it seem real. On a banker shop, your assignment will tell you to do a banker shop in a specific department – new accounts, loans, etc. Your INQUIRY should be about services in that department. You will want to ask a few more questions, have a little more prepared ―story‖, to give them ample opportunity to do all the steps. It would not be right or fair to do a banker shop by asking, ―Do you make car loans?’ and simply ending the contact after they say yes. Do not sound rehearsed – just do it like you naturally would. DROPPING HINTS/CLUES HINT/CLUE: making a statement that ―hints‖ at a need you may have now or in the future for bank services WITHOUT ASKING OUTRIGHT ABOUT IT. Examples: the ―hint‖ is underlined; the service they should sell is in red. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Say you are new in town and ask for directions to someplace nearby (all bank services – a potential NEW client) Say you are out looking for a new car or home and need change for phone, etc. (loan for the item mentioned) Say you are getting an insurance, rebate, tax refund, inheritance or other check soon (CD or investment account) Mention you need to save for _______________-new car, college, retirement, etc (loans for that item) Mention you are tired of your bank’s high fees (switch your accounts to this bank) Mention that you wish your bank had more or better locations (sell their many ATMs) Mention that your VISA fees keep going up (their VISA) Mention that you are starting a business (business loans or accounts) Mention that you are expecting a baby, retiring soon, going on vacation, etc (savings accounts or loans for these) Mention that you need a new item: car, boat, home, etc (loans for the items)
Merely drop it and see if they pick up on it—no need to expand it. Use any variation of the above to tailor it to your own situation or to make you more comfortable and provide an opportunity for the bank employee to sell a bank service. . If they do, they may ask you a question or two to further
understand your potential need. If they do not, just complete your visit. The HINT does not have to apply to the department you are shopping; in fact, it really should not. For example, if you are shopping a banker about loans, you will make an INQUIRY about some kind of loan and discuss that. Sometime during the conversation, drop a HINT about some other bank need---i.e. CD rates. This should be done ONLY if your assignment says drop a hint.
REVIEW AND COMMENTS COMMENTS!! COMMENTS!! COMMENTS!! This is really the most important part. You do not have to put the details (like what rates they told you, etc.) but a brief review OF the contact, make suggestions and observations. This is where the most helpful info comes from. Comments are required even if the employee did a perfect shop OR IF THE SHOP IS BRIEF. Please avoid derogatory remarks such as ―she was fat; this bank has ridiculous fees‖ etc. use your best judgment and be professional! When explaining what they could do to make it better, please give constructive criticism about things the employee can change, such as smile, ask more questions, make some conversation, etc. Do not say ―make the fees lower‖ or something like that, as that particular employee cannot do anything about what the bank charges. REMEMBER: always be professional- both while doing your shop and while making comments. You are a representative of Shoppers, Inc. And you are evaluating bank employees whose job depends on this evaluation. Your personal opinions and derogatory comments about individual’s personal habits have no place on a shoppers report. You can always e-mail a separate sheet if you feel the bank management needs to know something that does not pertain to the shop. The employees you rate, their managers, the trainers and several other bank personnel see all shopper reports. As always, please let your Account Rep know if you have any questions or problems. This information is the property of Shoppers, Inc. and should only be discussed with their staff. Any deviation from that policy may cause your contract to be terminated. Shoppers, Inc. P.O. Box 2912 Broken Arrow, OK 74013 (918) 251-0154 (800) 259-8551