Unit of competency Outline

Date retreived
22/07/2026 6:20 PM AWST

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Process customer accounts

Process customer accounts

Unit of competency
National Code
FNSRTS315
State Code
OEB83
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
081101 - Banking And Finance
Original Release Date
07/12/2022
Nominal Hours
30
Description
This unit describes the skills and knowledge required to identify customer needs, and open and process customer financial accounts.The unit applies to individuals who use organisational skills and specialised knowledge to perform clerical services, maintain financial records and respond to a range of customers.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify customer account needs
  • 1.1 Respond to requests for information on range, options and features of account services available or refer to other authorised personnel as required
  • 1.2 Provide customer with factual information based on customer needs outlining product features, cost of operation and conditions of accounts, according to organisational policies and procedures and legislative and regulatory requirements
  • 1.3 Provide customer with advice within adviser authority limits
  • 1.4 Assist customer when completing relevant documentation for selected services and products
2. Open customer account
  • 2.1 Verify applicant’s identity according to organisational policies and procedures and know your customer (KYC) requirements under anti-money laundering (AML) and counter-terrorism laws
  • 2.2 Interview potential account holder and gather information required for opening account
  • 2.3 Assess information provided for accuracy and sufficiency according to organisational policies and procedures
  • 2.4 Accept deposits and confirm that receipts and certificates are issued where applicable
  • 2.5 Process new account, application and transactions according to organisational policies and procedures
  • 2.6 Provide customer with information about processes for using and activating account and a Product Disclosure Statement or terms and conditions where required
3. Transfer or close customer account
  • 3.1 Gather required information from account holder seeking to renew, transfer or close account
  • 3.2 Assess information for accuracy and sufficiency for that account type and circumstances
  • 3.3 Verify completed documentation for accuracy and process applications for transfer or closure
  • 3.4 Provide information about finalisation of process and where an account closure has additional requirements according to organisational policies and procedures
4. Administer the account
  • 4.1 Verify customer identity when collecting processed documentation and cards from branch or making requests for information, according to organisational policies and procedures
  • 4.2 Follow up customer queries or complaints about operation of service with required personnel
  • 4.3 Provide reports on account activity and respond to exception reports, as required
  • 4.4 Complete suspicious matter reports according to organisational policies and procedures and anti-money laundering and counter-terrorism laws
No information
No information
Replaces
State Code National Code Title Type
AUS84 FNSRTS305 Process customer accounts Unit of competency