New accounts representative vs personal banking representative

The differences between new accounts representatives and personal banking representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a new accounts representative and a personal banking representative. Additionally, a new accounts representative has an average salary of $36,918, which is higher than the $33,833 average annual salary of a personal banking representative.

The top three skills for a new accounts representative include customer service, bank products and cross-sell. The most important skills for a personal banking representative are bank products, profiling, and customer inquiries.

New accounts representative vs personal banking representative overview

	New Accounts Representative	Personal Banking Representative
Yearly salary	$36,918	$33,833
Hourly rate	$17.75	$16.27
Growth rate	-3%	-3%
Number of jobs	133,070	41,795
Job satisfaction	-	5
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 62%
Average age	41	41
Years of experience	12	12

What does a new accounts representative do?

New accounts representatives are banking professionals who are responsible for the explanation of the available accounts. The accounts representatives explain different options for new accounts and interconnected services. They discuss any requirements, fees, or limits related to an account. It is their job to describe new account services to clients and assist them in the paperwork. They perform wire or electronic transfers for the funds coming from the other accounts. Also, they direct their clients to banking specialists for additional services.

What does a personal banking representative do?

Personal banking representatives typically earn $39K per year. This position requires a high school diploma or GED at a minimum, but employers prefer a bachelor's degree in finance, business, or a related field. They may also ask for experience in customer service, cash-handling, or banking. Personal banking representatives are required to provide bank client support, assist with account management, process checks, and find products and services that will be the best fit for their clients.

New accounts representative vs personal banking representative salary

New accounts representatives and personal banking representatives have different pay scales, as shown below.

	New Accounts Representative	Personal Banking Representative
Average salary	$36,918	$33,833
Salary range	Between $28,000 And $47,000	Between $26,000 And $42,000
Highest paying City	San Mateo, CA	-
Highest paying state	Hawaii	-
Best paying company	DATCU	-
Best paying industry	Finance	-

Differences between new accounts representative and personal banking representative education

There are a few differences between a new accounts representative and a personal banking representative in terms of educational background:

	New Accounts Representative	Personal Banking Representative
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 62%
Most common major	Business	Business
Most common college	-	-

New accounts representative vs personal banking representative demographics

Here are the differences between new accounts representatives' and personal banking representatives' demographics:

	New Accounts Representative	Personal Banking Representative
Average age	41	41
Gender ratio	Male, 26.6% Female, 73.4%	Male, 33.4% Female, 66.6%
Race ratio	Black or African American, 9.5% Unknown, 2.9% Hispanic or Latino, 22.0% Asian, 9.1% White, 55.7% American Indian and Alaska Native, 0.8%	Black or African American, 9.7% Unknown, 2.9% Hispanic or Latino, 22.5% Asian, 9.2% White, 54.9% American Indian and Alaska Native, 0.8%
LGBT Percentage	11%	11%

Differences between new accounts representative and personal banking representative duties and responsibilities

New accounts representative example responsibilities.

Gain excellent customer service skills and achieve award for completing voluntary MSR exams.1
Report tax information to the IRS.
Complete require BSA & OFAC training annually.
Identify potential high risks clients and investigate OFAC status.
Ensure adherence to IIROC, QI, AML, regulations and to mitigate legal and reputational risk.
Answer incoming calls on first ring; assist customers, complete customer request forms in AS400 system.

Personal banking representative example responsibilities.

Develop and maintain relationships with business partners to increase cross-sell opportunities and achieve sales goals.
Open new bank accounts, order debit and ATM cards for new and existing customers.
Coach associates in cross-selling of products, create work schedules and implement procedures to reduce expenses.
Inform customers of procedures for applying for services such as ATM cards, direct deposit of checks, and certificates of deposit
Maintain customer relationships while continually assessing cross-selling opportunities.
Advise patients of insurance/hospital information, prepare admission forms and enter patient data into the patient data accounting system.

New accounts representative vs personal banking representative skills

Common new accounts representative skills

Customer Service, 15%
Bank Products, 8%
Cross-Sell, 6%
Financial Services, 6%
Credit Card, 5%
Loan Payments, 5%

Common personal banking representative skills

Bank Products, 18%
Profiling, 14%
Customer Inquiries, 11%
Financial Products, 9%
Financial Services, 9%
Customer Issues, 7%

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New Accounts Representative
New Accounts Representative vs Personal Banking Representative

Updated January 8, 2025

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