After rushing into the banking hall in the nick of time, the customer service agent in the bank looked at the time on her computer and it was pretty obvious she thought i was late. This made me want to apologize for such a mad dash into her territory. I though she should have been happy for a customer since there was no other customer in the banking hall.

customer service in the bank

I was the one who talked to her first, since she had not acknowledged me by saying hello or good afternoon. After I told her what had brought me to the bank and the types of bank accounts I wanted to acquire from her, she told me that I could fill out forms but I would only get my products and accounts on Monday since they had run out. This was alright, but I would expect that she would try to sell me another product after finding out why I was interested in the product I was looking for. She could also have sent me to the banks’ other branches for the same product.

The customer service in the bank was lacking since I left the bank with only what I asked for, nothing was offered voluntarily. The bank officer did not apologise for not having the products.

Below are 4 basic “musts” for customer service in the bank to attract and retain customers.

Customer service in the bank –smile

The receptionist or front desk officer should smile and welcome all who come into the branch with an appropriate greeting. The greeting and smile should not be for those who look like they have money but for all who come into her domain. a smile is very simple and easy to give, but it is very important to customers.

Customer service in the bank –  listen attentively

The service agent or bank officer should listen to my request or needs to determine what best suits me. The service agent can persuade a potential customer to get more than one product whne they have the product in place. The potential customer may be after information and advice and when this is given before even opening an account, then the customer feels more satisfaction. They do not have to come later to the bank to sign up for another product when they could have finished at ones

Customer service in the bank – available products

The bank should have a well organised stock control and replenishing system so that they do not run out stationery, cards and currency denominations. It is very frustrating to get to the teller who advices you they can only pay in denominations you did not want. Have enough of all currency or advice customer to give you a few minutes as you get the denominations. Sometimes the stationery , like deposit slips run out and one is forced to move from place to place looking for the forms. They are informed the forms are not currently available after wasting time in the banking hall.

Customer service in the bank – Man the service desk

The service officer desks are in many banks out in the banking hall. It is very vexing when the service officer is never seated at their desk or has to keep moving to the back office. Sometimes the service officer also answers queires on their desk so they are not able to attend to customers who are face to face with her. The banks should have the phones received by others so that the customers in the banking hall may be served.

Many of us have many bad things we can say about our banks’ customer service.we should also acknowledge when the banks go out of their way to ensure we are well served and taken care off. Many banks have customer service as a deliverable for their staff and the banks must ensure customer service in the bank is felt by the customers.

What are time deposits in Kenya

Time deposits in Kenya are investments that are placed the funds are not easily available to the investor before the time of the deposit has elapsed or expired. The time deposits in Kenya may be for as short as 7 days or as long as the options are availed. Time deposits are also referred to as fixed deposits or term deposits.

Time deposits in Kenya

The investor gets a fixed interest at the end of the investment period. This amount is higher the longer the funds are invested. For example, the investor will earn a higher interest for depositing the funds for 1 year than they get for 1 month. The very long term time deposits may not give very attractive interest rates compared to the middle term time deposits.

When the time agreed on the time deposit in Kenya lapses, the investor can either roll over the investment, that is, invest the funds again or the amounts may be returned to the investor.

The investor of time deposits in Kenya is charged a penalty fee if they withdraw their funds from the time deposit before it matures. In most cases the investor losses the interest they had negotiated and even have to refund the bank as part of the penalty. When investing in time deposits, the depositor must consider what the time span he or she has idle funds for, that can be put aside to earn higher interest.

There are three types of time deposits traditional certificates of deposits, liquid certificates of deposits and broker bought certificates of deposits. These are explained below:

Time deposits in Kenya – Liquid certificates of demand

Liquid certificates of demand are time deposits that the investor negotiates with the bank on amounts that can be withdrawn before the maturity of the time deposit. The amounts that one can withdraw are decided by the bank and are usually a percentage of the deposited funds. Sometimes the bank also restricts the number of times the investor can withdraw. The bank may allow one withdrawal per quarter. If the investor requires taking more than the bank allows, the investor is then subjected to a penalty fee.

Time deposits in Kenya – traditional certificates of deposits

Traditional certificates of deposit are time deposits where the investor is charged a penalty if they withdraw before the maturity of the deposit. The funds could be invested for even five years.

Time deposits in Kenya – broker bought certificates of demand

Broker bought certificates of deposits are time deposits that are sold to investors by brokers. The brokers buy the certificates and they sell them to investors for a profit or commission. The time deposits can be for a period from seven days to one year.

It is important to make your money work for you. You must look for save investment options that can bring a return higher than what the bank savings accounts may offer.  Time deposits in Kenya can be used by people who are interested in investing and making good returns on investment.