Unit of competency Outline

Date retreived
23/07/2026 5:06 AM 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 transactions

Process customer transactions

Unit of competency
National Code
FNSRTS306A
State Code
D4158
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 process basic financial transactions for customers in a retail financial organisation.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Provide customer service
  • 1.1. Customer is greeted and served with respect and professionalism in accordance with the company service standards and expectations
  • 1.2. Customer is provided with information as required in a timely, accurate and effective manner with any queries about transactions answered fully and clearly to ensure customer is appropriately informed
  • 1.3. Transactions outside the knowledge or delegated authority of the officer are referred to other personnel for resolution as required
2. Process basic financial transactions
  • 2.1. Customer transactions are processed in an accurate and timely manner using standard policies, procedures and systems
  • 2.2. Documentation or systems entry to support transactions is checked for accuracy and completeness and customer account and transaction details maintained and verified using correct procedures
  • 2.3. Customer complaints and disputes are resolved or referred to other authorised personnel and customer accounts are rectified where necessary
  • 2.4. Accurate reconciliation of subsidiary ledgers to general ledger accounts is performed and fees appropriate to the transaction are levied in accordance with standard procedures
3. Administer the transaction process
  • 3.1. Error records and exception reports are analysed and responded to according to standard procedures and within required timeframes
  • 3.2. Activity reports monitoring the nature and level of transaction activity are provided and database records or customer files updated according to standard procedures and within required timeframes
  • 3.3. Customer records are stored safely, securely and in accordance with standard processes and recognising the requirement to protect customer privacy and commercial confidentiality
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.
Information may be related to:
account services, including:
savings
retirement
superannuation
investment services
processes for completing transactions including:
cash or non-cash transactions
EFTPOS
cheques
credit cards
the interests of customer include knowledge of the changing circumstances of the customer and how these contexts influence customer needs in relation to financial, retirement, investment and other services.
Authorised personnel may include:
dispute resolution officer
employees
supervisors and managers.
Transactions may be processed:
using manual or electronic systems
using the standard procedures and systems of the financial services institution
and may include:
bank cheques
credit card transactions
debits such as from:
savings accounts
cheque accounts
inward credits
payroll deductions
periodic payments.
The relevant financial services organisation's policies, procedures and systems may relate or be influenced by:
administrative and clerical systems
database and IT systems
product and account and service range
range of responsibility
size, type and location of branch
types of equipment used.
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
interpret and comply with relevant legislation
follow customer complaint and dispute resolution policies and procedures
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 services product information
access to an integrated financial 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
C9906 FNSRETA306B Process customer transactions Unit of competency
Replaced By
State Code National Code Title Type
AUT10 FNSRTS306 Process customer transactions Unit of competency