Discuss Features and Benefits

In order to feel comfortable selling products or services or even referring individuals to CCB, it helps to know what the product or service is (feature) and how it helps individuals (benefits). Below are the features and benefits of the Basic Savings account.

Features

• Only $50 to open
• Only $3 per month if balance falls below $500 any day of the month
• Six free transfers per month; $10 per transfer afterwards
• Daily compound interest, paid quarterly
• FDIC Insurance up to $250,000
• Choose among monthly, quarterly, or annual paper statements (must be combined with a checking account to receive monthly statements)

Benefits

• Make money from day money is collected
• Receive statements through the Post Office 
• Reasonable access to funds because money can be accessed up to a certain regulatory limit
• Minimal costs to open

Note: This account allows unlimited withdrawals through an ATM, by mail, messenger or in person; other withdrawals or transfers (such as telephone, online or Bank Direct-Automated transfers, check, draft or check card) are limited to 6 per month. Excess withdrawal or transfer fee is $10.00 per debit paid over the regulatory limit per monthly statement period. 

Identify Opportunities

Always be on the lookout for individuals who may need a savings account. Most people like to have a nest egg or plan for the future. Below are examples of prospective clients.

• Holders of non-interest bearing checking accounts who have balances higher than what they normally use
• Individuals who desire to accumulate funds for a specific purpose and keep it separate from their checking account
• Clients who prefer a secure and insured vehicle for saving
• High discretionary income individuals
• Business clients and prospects wishing to earn higher interest on excess funds
• Individuals who need a place to keep money so it is not readily accessible
• Individuals with maturing certificates of deposit who wish to have more access to funds
• Clients who want a savings account and traditional paper statements

Discover Client Needs

Before you recommend a product or service to a client, prospect, family or friend, it only makes sense to recommend things they might actually need or like. This is why it's important to ask questions that help us gain insight about an individual's banking preferences.

Sales Associates

To identify the best savings vehicle for each prospect based on his or her needs, you need to ask some discovery questions. Some examples include:

• Tell me about your current savings and investment plans.
• Do you have excess funds you'd like to invest?
• What do you look for in a savings account?
• What average balance do you plan to keep in this account?
• Are you interested in learning about ways to earn more interest on your money?
• I noticed you have $10,000 in your checking account. Do you have any plans for these funds? 
• Are you aware that the money in your checking account is not earning any interest? Would you be interested in learning how you can make money off of the money you keep in your checking account?
• I noticed that your CD is about to mature. Do you have any plans for those funds?

Non-sales Associates (Take it to 10)

If you don't feel comfortable with savings account product information, but are working towards your Take it to 10 goals, don't focus on a specific account. Instead, ask if the prospect is interested in opening a savings account at CCB. To do this say:

I work at Capital City Bank and we offer several savings and investment products, including Everyday Savings. Would you be interested in learning more about them from an associate of mine?

Recommend Products/Services

When you have identified a need or learned about a prospect's banking preferences, you are ready to start making recommendations that align with his or her goals.

Sales Associates

Below are examples of what you might say when recommending a specific savings account after having used the qualifying questions.

I recommend our Basic Savings account. This account can be opened with only $50, has no transaction fees, has an optional automatic savings program, offers you competitive interest, and has only a $3 monthly service charge if the balance falls below $500 any day in the month.

Non-Sales Associates (Take It to 10)

If you are simply trying to make a referral to CCB, then you are recommending the bank, and even a specific banker. Below is an example of how you make this recommendation. 

I recommend that you check out Capital City Bank. I work there and I know it's a great place to bank. CCB is a stable, community bank that can help you with your savings need. I don't know too much about the various options, but I can certainly connect you with a friendly banker who would be willing to help. His name is _______________.

Handle Objections

It is highly likely that once you make a product or service recommendation, you will receive objections. Before responding, keep the following points in mind:

• Make sure you understand the question or objection
• Be empathetic
• Address the question or objection even if you can't change the product or service
• Check with the prospect to make sure he or she accepts your response or explanation

To respond to objections, use Feel, Felt, Found to structure your responses. Below are examples of checking account objections and suggested responses.

Sales Associates

Client Objection: "Why would I choose this account if there is a monthly fee?"

Feel: I understand why you might feel inconvenienced by a monthly fee.

Felt: Many of my clients have felt the same way.

Found: The good news about this fee, is that you are only charged the $3 monthly fee if the average monthly collected balance falls below $500. If you plan on keeping more than that in your account you will never have to worry about this fee. If you are afraid that you may fall below that balance, we do have other great savings accounts that can meet your needs. How do you feel about that?

Non-Sales Associates

Client Objection: "Why should I open a savings account? The rates are really low!"

Feel: I understand that you prefer to have a higher interest rate.

Felt: I'm the same way. I want to earn the most bang for my buck.

Found: Even though the interest rate is not what you may want it to be, other clients have found that it is helpful to open a savings account instead of leaving the money in a checking account. By placing the funds in a savings account, it makes it easier to save and you are less tempted to spend it. If you would like, I can refer you over to a Personal Banker and they can answer any questions that you may have. What do you say?

Ask for the Business

If you don't receive an objection or have already come to an acceptable resolution with the client or prospect, you are ready to ask for the business. Asking for the business is what we say to move the sale forward. Below are some examples of what you might say to ask for the business.

Sales Associates

• May I open that account for you now?
• Would you like to open the Basic Savings account?
• Do you want to open the account now?
• Are you still interested in opening the savings account or do you prefer to explore other options?

Non-sales Associates

If you are making a referral for Take it to 10, you are trying to get the prospect to agree to meet with a banker about a need. Below are some examples of what you might say to do that. 

• I would be happy to connect you with a banker who can help you. What is your name and number?
• May I get your contact information so I can have my friend, ___________, call you?
• Can I get your name and number so I can have a banker call you about opening up your account?
• May I have a banker call you to help you find the best account for you?

Make a Referral

If you are a sales associate or non-sales associate who cannot open savings accounts, but have identified someone who is interested in a savings account, remember to refer him or her to an associate who can help.

Making referrals at Capital City Bank is as easy as A B C! Below is an example of the ABC method to making referrals. 

Process the Sale

Sales are processed generally one of two ways:

• The associate who can sell the product follows established policies and procedures to open a savings account. 
• An associate connects the person to a qualified banker using a Synapsys referral for the savings account. The qualified associate opens the account.
  
  
   

Additional Information on Sale Processing

For personal savings account procedures, see Help U.

See the Synapsys referral instructions.