What I Learned in Retail Banking

I got into Citibank in November 2018, just as the first semester of my senior year in college was about to end. I was promoted to the mortgage department in August 2020 and then left January 2021 for Flatiron School.

Here’s what I have learned. Some seem to be common sense but I’ve realized that many of my previous clients did not know about online banking.

Account Opening/Online Banking

Many people spend so much time waiting in line just to open a basic account (as in there are no specific requirements from court). It is way easier to open an account online. This also applies to mortgage applications.

But if you still want to go to the branch to open an account, don’t forget to bring the necessary documents. Depending on which bank you choose, the required documents for account opening might differ. Most times, a state ID will suffice, as it includes both an official photograph and proof of address.

The easiest way to save yourself from future branch visits is to download the mobile app or sign up for online banking. Be sure to ask about online banking at the time of account opening in the branch.

Besides depositing/withdrawing cash, almost everything else can be done online now:

• monthly statements
• check application status
• transfers
• wires
• credit card payments/opening/disputes
• check deposits
• order checks
• etc.

Fees

Depending on your account package (usually determined by how much money you need to maintain per month), there might be a monthly fee.

Be sure you ask about the monthly fees at the time of account opening.

If you are looking through your statement and you see a monthly fee, you can either talk to the online chat representative or talk to a representative over the phone. As long as you ask nicely, it’s not hard to get some fees reversed. (Please don’t try to abuse this trick, as it wouldn’t be hard for the bank to tell once you start abusing their courtesy.) The same applies to late fees on your credit cards.

Credit Cards

There are pre-approval applications for many lenders now, so you can check which cards you qualify for even before your credit is checked!

Most banks can’t handle credit cards beyond applications and payments. You usually have to call the credit card department even if you’re talking to a representative at the branch. It’s best to just handle credit card issues at home, as the credit card department is available 24/7.

Many lenders allow you to increase/decrease your credit limit online. You can redeem credit card points online as well.

Language Barrier

Some clients go out of their way to visit a branch that has a representative who might speak their language. However, most big banks have translators available over the phone when asked. Once the client gets a hold of a representative over the phone, the client could just say, “No English. <Insert native tongue> only” or something along those lines.

tldr; almost everything can be done online! Don’t waste your time going to a branch unless you need to deposit or withdraw cash.