BASIC ACCOUNT WORKS
PROCESS CUSTOMER TRANSACTION
Level II
BUF BAW2 05 0812
Prepared by Abdisa wata
n/arsi
August 2021
Processing Customer Transactions
BUF BAW2 05 0812
This unit describes the performance outcomes, skills and knowledge required to process basic
financial transactions for customers in a retail financial organization.
1. Providing Customer Service
Behaviours
1. You give a consistent and reliable performance at work
2. You show respect for others in your dealings with them
1.1. Greeting and Serving Customer With Respect And Professionalism In Accordance
With the Company Service Standards And Expectations
1.2. Providing Customer 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
Information may be related to:
account services, including:
savings
retirement
superannuation
investment services
processes for completing transactions including:
cash or non-cash transactions
cheques
debit/credit cards
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.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.
1.3. Referring Transactions Outside The Knowledge Or Delegated Authority Of The
Officer To Other Personnel For Resolution As Required
Authorised personnel may include:
dispute resolution officer
employees
supervisors and managers
2. Processing Basic Financial Transactions
You need to know and
understand:
K1 Sources of information and advice within your organisation
K2 Your organisation's timescale standards
K3 How information is stored and how to access it
K4 Your organisation's customer service procedures (including dealing with
complaints)
K5 The limits of your own authority and the action required if any action is
required which is beyond your authority
K6 Your organisation's systems, procedures and time limits for processing
payments to and/or from customers
K7 Your organisation's computerised account set up procedures, including
amendment arrangements
K8 Different methods of receiving financial information
K9 Your organisation's requirements relating to the application of codes,
laws and regulatory requirements including ethical standards and health
and safety as they impact on your activities
2.1. Processing Customer Transactions In An Accurate And Timely Manner Using
Standard Policies, Procedures And Systems
Transactions may be processed:
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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/outward payments
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.
2.2. Checking Documentation Or Systems Entry To Support Transactions For Accuracy
And Completeness And Customer Account And Transaction Details Maintained And
Verifying Using Correct Procedures
2.3. Resolving or Referring Customer Complaints And Disputes To Other Authorized
Personnel And Customer Accounts Are Rectified Where Necessary
2.4. Performing Accurate Reconciliation of Subsidiary Ledgers To General Ledger
Accounts And Levying Fees Appropriate To The Transaction In Accordance With
Standard Procedures
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3.Administering The Transaction Process
3.1. Analyzing and Responding Error Records And Exception Reports To According To
Standard Procedures And Within Required Timeframes
3.2. Providing Activity Reports Monitoring The Nature And Level Of Transaction
Activity And Updating Database Records Or Customer Files According To Standard
Procedures And Within Required Timeframes
3.3. Storing Customer Records Safely, Securely And In Accordance With Standard
Processes And Recognizing The Requirement To Protect Customer Privacy And
Commercial Confidentiality
Critical aspects of Competence
Assessment requires evidence that the candidate:
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.
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This unit may be suitable for you if your work involves you in receiving from and/or making
payments to customers and monitoring customers' payments.
When you receive money from, and/or make payments to, customers, it is
important to make sure that the amount and documentation are accurate, and
that all procedures (including those for keeping money and information secure)
are carried out in line with your organisations requirements. You will also have
responsibility for checking that customer payments are made on time. You will
have to identify and report if a payment is later than stipulated, or if there are
any discrepancies in documentation. You will need to pay attention to details
that are critical to your work
Process customers’ financial transactions
FSPCP01 Process customers’ financial transactions 2
Performance
criteria
You must be able to:
P1 Make sure that all documentation, entries and records are accurate and
legible
P2 Receive payments from and/or make payments to customers
P3 Confirm that amounts and balances are accurate
P4 Recognise discrepancies in documentation and take appropriate action
P5 Process payments accurately in accordance with your organisations
procedures
P6 Keep accurate records of transactions
P7 Comply with legal requirements, industry regulations, ethical standards,
organisational policies and professional codes
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