Unit of competency Outline

Date retreived
22/07/2026 12:00 PM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Process customer accounts

Process customer accounts

Unit of competency
National Code
FNSRTS305A
State Code
D4157
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
24/11/2010
View on TGA
State Implementation and Classification
Approved Date
21/02/2012
Field of Education
081101 - Banking And Finance
Original Release Date
21/02/2012
Nominal Hours
30
Description
This unit describes the performance outcomes, skills and knowledge required to identify customer needs and process customer financial accounts.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Identify customer account needs
  • 1.1. Requests for information on the range, options and features of account services available are addressed in a timely, accurate and comprehensive manner, or referred if necessary to other authorised personnel
  • 1.2. Information is provided to customers to assist in the selection of an appropriate product which outlines product features, matches products to customer needs, describes the cost of operation and the conditions of the accounts
  • 1.3. Customers are assisted when completing relevant documentation for selected services and products
2. Open customer account
  • 2.1. Potential account holders are interviewed to gather information required for the opening of accounts with applicant identified for security purposes according to organisational procedures
  • 2.2. Information provided is assessed for accuracy and sufficiency according to the standard organisation procedures
  • 2.3. Completed documentation is verified for accuracy and deposits are accepted ensuring that receipts and certificates are issued
  • 2.4. New applications and transactions are processed in accordance with organisation's policies and procedures to ensure the timely and accurate completion of the task
  • 2.5. Information is provided to customer about the processes for activating the account including the timeframe and mechanisms for receiving transaction cards or deposit books and the most cost effective way to use the account
3. Transfer or close customer account
  • 3.1. The account holder seeking to transfer or close an account is interviewed to gather the required information which is assessed for accuracy and sufficiency according to the standard organisation procedures
  • 3.2. Completed documentation is verified for accuracy and applications for transfer or closure are processed in accordance with organisation's policies and procedures to ensure the timely and accurate completion of the task
  • 3.3. Information about the finalisation of the process is provided in accordance with organisation policies and procedures
4. Administer the process
  • 4.1. Standard organisation processes and protocols are used to verify customer identity when collecting processed documentation and cards from a branch
  • 4.2. Customer queries or complaints about the operation of the service are followed up with appropriate personnel according to standard procedures
  • 4.3. Reports are provided on account activity in line with standard policies and procedures with any exception reports responded to
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Authorised personnel may include:
dispute resolution officer
employees
supervisors and managers.
Information provided to customer may include descriptions of:
accounts geared to the needs of particular groups such as:
customer deeming accounts
youth accounts
investment accounts
retirement accounts
savings accounts.
Information required for opening accounts may include:
amount of initial deposit
other signatories to the account
primary account holder's:
name
address
contact details
purpose for which the account will be used
required links to other accounts held.
Organisational procedures for customer identification may include:
conducting the 100 point check of personal identification
identifying and matching customer with existing accounts held within own financial institution.
The accuracy and sufficiency of information provided includes ensuring:
authenticity of signatures
checks against or links to existing customer account information
completeness of documentation
provision of sufficient documentary evidence (points) to meet the requirements for establishing a new account.
Transaction processing may be:
manual or electronic and may involve:
accurate data entry of transactions into relevant database
accurate completion of customer application forms and transaction receipts.
Customer account details may include:
EFT disputes
electronic bill and other payments
fees charged
insurance
investment, retirement savings
payroll:
member chequeing
direct debit
periodical payments
transfers from other accounts
visas and other plastic cards.
Required information to transfer or close an account may include:
account details to enable transfer of remaining funds
details of possible complaints relating to the account
reasons for transfer or closure of accounts.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
thoroughly check customer account details and deal with customers effectively following complaint and dispute resolution policies and procedures where required
implement customer account processing in accordance with industry codes of practice and organisation policy
maintain and use knowledge of range of products, features and fees.

Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to financial product information
access to an integrated transaction system and data.

Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
accessing and validating third party reports.

Guidance information for assessment
Replaces
State Code National Code Title Type
C9905 FNSRETA305B Process customer accounts Unit of competency
Replaced By
State Code National Code Title Type
AUS84 FNSRTS305 Process customer accounts Unit of competency