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Chapter 11 Selling the Bank
an existing relationship formed by selling a bank product or service to a
customer. Therefore, it is sometimes known as relationship-based selling.
For example, conversations between a teller and a customer might reveal
that a customer with a savings account is saving for a down payment on
a house. Tellers are trained to ask a checking customer if they would like
to open a savings account. If they have a checking and savings account,
the teller asks if they would like to have direct deposit or automatic bill
pay. The more services a bank provides to a customer, the more likely the
customer is to stay with that bank.
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a customer’s needs and wants along to a loan officer might result in
making a mortgage loan to a savings account customer. Friendly interest
from a bank teller reveals the customer’s needs, and good communication
among bank employees and bank departments could lead to a cross-
selling opportunity. Customers who have several relationships with the
same bank, such as a savings account and a mortgage loan, are more
likely to be loyal to the bank.
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selling is when a bank employee contacts a customer because of an
event that has recently happened with that customer. For example, a
BIZ TIPS
The Bank Holding Com-
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1970, bans banks from
making customers buy one
product or service for them
to be eligible for another
product. For example, a
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customer buy homeowners
insurance from a company
owned by the bank to be
eligible for a mortgage
from the bank.
30-Year Fixed Rate Mortgage
3.87%
Annual
Percentage
Rate
24 Month CD
1.00%
Annual
Percentage
Rate
Rates available to new deposits
only. Minimum to open a CD is
$2,500. Penalty may apply to CD
for early withdrawal. APR stated
accurate as of 1/3/XX.
Requires a 70% loan-to-value ratio and
1.25 points due at closing. Taxes and
insurance premiums are additional.
GREAT RATES
North Creek
Bank and Trust
Denotes that
North Creek
Bank and Trust
is an equal
housing lender
Requirement for getting
advertised rates
Required on all
advertisements
related to
deposit accounts
Annual
percentage rate
must be stated
Figure 11-5.
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