Account services representative vs loan services representative

The differences between account services representatives and loan services representatives can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become an account services representative, becoming a loan services representative takes usually requires 2-4 years. Additionally, a loan services representative has an average salary of $38,603, which is higher than the $32,467 average annual salary of an account services representative.

The top three skills for an account services representative include customer satisfaction, work ethic and technical support. The most important skills for a loan services representative are customer service, loan payments, and outbound calls.

Account services representative vs loan services representative overview

	Account Services Representative	Loan Services Representative
Yearly salary	$32,467	$38,603
Hourly rate	$15.61	$18.56
Growth rate	-4%	-3%
Number of jobs	319,445	85,475
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 55%	Bachelor's Degree, 47%
Average age	40	42
Years of experience	12	4

What does an account services representative do?

An account services representative is responsible for responding to the customers' inquiries and concerns regarding their financial accounts and statements. Account services representatives also offer new products and services from the financial institution, handling customers' complaints, assist in developing marketing strategies and promotional offers, and identify business opportunities to generate more revenues and attract potential clients. An account services representative must have excellent communication and customer service skills, processing their financial transactions, and resolve billing discrepancies.

What does a loan services representative do?

A loan service representative is responsible for communicating and interacting with clients and serves as a back-up or reliever in a company. They are the first person that the client must go through if they want to apply for a loan. Loan representatives monitor and ensure that all data and information is properly documented using a loan processing system. Also, they are the ones who inspect and verify if a company is complying with the transaction rules as well as the loan procedures and regulations.

Account services representative vs loan services representative salary

Account services representatives and loan services representatives have different pay scales, as shown below.

	Account Services Representative	Loan Services Representative
Average salary	$32,467	$38,603
Salary range	Between $25,000 And $40,000	Between $15,000 And $98,000
Highest paying City	San Jose, CA	Baltimore, MD
Highest paying state	Alaska	New York
Best paying company	Schneider Electric Industrial Services	Jersey Shore State Bank
Best paying industry	Automotive	Finance

Differences between account services representative and loan services representative education

There are a few differences between an account services representative and a loan services representative in terms of educational background:

	Account Services Representative	Loan Services Representative
Most common degree	Bachelor's Degree, 55%	Bachelor's Degree, 47%
Most common major	Business	Business
Most common college	-	University of Pennsylvania

Account services representative vs loan services representative demographics

Here are the differences between account services representatives' and loan services representatives' demographics:

	Account Services Representative	Loan Services Representative
Average age	40	42
Gender ratio	Male, 35.5% Female, 64.5%	Male, 26.8% Female, 73.2%
Race ratio	Black or African American, 12.5% Unknown, 5.3% Hispanic or Latino, 19.1% Asian, 6.7% White, 55.6% American Indian and Alaska Native, 0.7%	Black or African American, 11.7% Unknown, 4.4% Hispanic or Latino, 17.0% Asian, 7.1% White, 59.4% American Indian and Alaska Native, 0.4%
LGBT Percentage	7%	7%

Differences between account services representative and loan services representative duties and responsibilities

Account services representative example responsibilities.

Note: EDI is media loader design to automate conversion from p.c.
Manage participants in classroom and OJT training to ensure they are successful and any barriers to completion are immediately addressed.
Educate veterans and the college community on veteran's benefits and academic requirements need to accomplish academic goals.
Coordinate services for new software clients to help ensure efficient implementation of EDI software.
Process HIPAA system configuration and implementation.
Review medical documentation and consult with healthcare providers when documentation are inadequate for coding purpose.

Loan services representative example responsibilities.

Manage customer relations with internal personnel, group administrators, brokers and members as related to Medicare insurance.
Track, compile, and send HUD and VA binders off to respective government agency.
Approve final numbers on HUD closing contract, turn in final sign contract to lender for funding.
Provide research support functions to management and sales representatives on check copies, ACH maintenance and speed-pay income.
Complete address changes, respond to emails, opt out requests, return mail, ACH inquiries and enrollment.
Provide internal and external customers with require foreclosure documents while meeting require deadlines.

Account services representative vs loan services representative skills

Common account services representative skills

Customer Satisfaction, 12%
Work Ethic, 11%
Technical Support, 10%
Customer Support, 7%
Account Services, 6%
Patients, 5%

Common loan services representative skills

Customer Service, 24%
Loan Payments, 19%
Outbound Calls, 4%
Escrow Accounts, 4%
Mortgage Loans, 3%
ACH, 2%

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Account Services Representative
Account Services Representative vs Loan Services Representative

Updated January 8, 2025

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