Finance service representative vs bank representative

The differences between finance service representatives and bank representatives can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance service representative has an average salary of $38,361, which is higher than the $34,417 average annual salary of a bank representative.

The top three skills for a finance service representative include financial services, patients and team-oriented environment. The most important skills for a bank representative are bank products, customer service, and bank policies.

Finance service representative vs bank representative overview

	Finance Service Representative	Bank Representative
Yearly salary	$38,361	$34,417
Hourly rate	$18.44	$16.55
Growth rate	10%	-12%
Number of jobs	220,519	105,192
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 60%	Bachelor's Degree, 53%
Average age	43	39
Years of experience	4	-

What does a finance service representative do?

A financial service representative typically works for a bank or a similar establishment. One of their primary responsibilities is to reach out to clients and offer financial advice, services, or products such as insurance and credit cards. They can also set appointments, meet with clients to discuss benefits, and even gather applications. Furthermore, a financial service representative needs to have extensive knowledge of the products and services and be equipped with communication skills to build a rapport that will be essential in securing trust and sales.

What does a bank representative do?

A bank representative works to assist clients, aiming to provide optimal banking services and build positive client relationships. Their duties include greeting and identifying the clients' needs, answering inquiries, giving clear instructions, and discussing banking terms. They also process client requests such as withdrawals, deposits, payments, and even handling applications. Moreover, a bank representative may also conduct market research and analyses, generate leads, and reach out to potential clients through calls and correspondence to offer products and services.

Finance service representative vs bank representative salary

Finance service representatives and bank representatives have different pay scales, as shown below.

	Finance Service Representative	Bank Representative
Average salary	$38,361	$34,417
Salary range	Between $25,000 And $58,000	Between $28,000 And $41,000
Highest paying City	New York, NY	Albany, NY
Highest paying state	New York	New York
Best paying company	Bloomberg	Advancial Federal Credit Union
Best paying industry	Government	Finance

Differences between finance service representative and bank representative education

There are a few differences between a finance service representative and a bank representative in terms of educational background:

	Finance Service Representative	Bank Representative
Most common degree	Bachelor's Degree, 60%	Bachelor's Degree, 53%
Most common major	Business	Business
Most common college	University of Pennsylvania	-

Finance service representative vs bank representative demographics

Here are the differences between finance service representatives' and bank representatives' demographics:

	Finance Service Representative	Bank Representative
Average age	43	39
Gender ratio	Male, 41.2% Female, 58.8%	Male, 34.1% Female, 65.9%
Race ratio	Black or African American, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 10.1% White, 67.9% American Indian and Alaska Native, 0.2%	Black or African American, 9.2% Unknown, 3.4% Hispanic or Latino, 22.4% Asian, 7.3% White, 57.1% American Indian and Alaska Native, 0.6%
LGBT Percentage	6%	7%

Differences between finance service representative and bank representative duties and responsibilities

Finance service representative example responsibilities.

Manage correspondent services including but not limit to wire processing, coin and currency, ACH support and international payments.
Gain excellent customer service skills and achieve award for completing voluntary MSR exams.1
Manage client relationship by presenting solutions for customers state and unstate needs while cross-selling company products.
Maintain cleanliness and presentation of member service area and marketing information.
Originate and develop new business through effective profiling, relationship building, consultative customer service in a retail banking environment.
Count upon for accuracy and math skills.

Bank representative example responsibilities.

Used CRM software for KYC purposes, managing and analyzing customer data throughout life cycle.
Open new accounts for existing and/or new clients, including money market savings, CDs, and IRA accounts.
Complete maintenance request including address changes, check orders, stop payments, warnings, account closings and ATM card captures.
Originate and sign internal debit and credit documents.
Complete customer account paperwork for loans, fraudulent activity, unauthorize activity and weekly ATM balancing reports.
Advise patients of insurance/hospital information, prepare admission forms and enter patient data into the patient data accounting system.

Finance service representative vs bank representative skills

Common finance service representative skills

Financial Services, 15%
Patients, 8%
Team-Oriented Environment, 7%
Mutual Funds, 4%
Financial Products, 4%
Customer Service, 3%

Common bank representative skills

Bank Products, 12%
Customer Service, 11%
Bank Policies, 9%
Cross-Sell, 6%
Excellent Interpersonal, 5%
Cash Handling, 5%

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Finance Service Representative
Finance Service Representative vs Bank Representative

Updated January 8, 2025

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