How to hire a phone banker

How to hire a phone banker, step by step

Here's a step-by-step phone banker hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a phone banker job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new phone banker
• Step 8: Go through the hiring process checklist

What does a phone banker do?

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1. Identify your hiring needs

   Before you start hiring a phone banker, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   A phone banker's background is also an important factor in determining whether they'll be a good fit for the position. For example, phone bankers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   Here's a comparison of phone banker salaries for various roles:

   Type of Phone Banker	Description	Hourly rate
   Phone Banker	Securities, commodities, and financial services sales agents connect buyers and sellers in financial markets. They sell securities to individuals, advise companies in search of investors, and conduct trades.	$12-20
   Finance Sales Consultant	A finance sales consultant helps sell financial products and services. They can work in various industries, such as home, automotive, or banking... Show more	$16-28
   Finance Service Representative	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... Show more	$12-27

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Customer Inquiries
   • Compliance Guidelines
   • Bank Products
   • Computer System
   • Treasury
   • Customer Relationships
   • Inbound Phone Calls
   • Software Programs
   • Verbal Communication
   • Customer Accounts
   • Product Knowledge
   • Financial Products
   • Offering Products

   Check all skills

   Responsibilities:

   • Manage a variety of internal initiatives including merchandising, cross-selling, customer retention programs and promotional campaigns.
   • Process treasury tax and loan payments.
   • Service customers with commercial and treasury management accounts and make appropriate product recommendations.
   • Secure and obtain accurate patients demographics, financial information, and maintain confidentiality on all patient records.
   • Interact with commercial business, insurance, business development and investment partners to identify cross-selling opportunities, while meeting customer needs.
   • Provide notary service upon request.

   More phone banker duties

3. Make a budget

   Including a salary range in your phone banker job description helps attract top candidates to the position. A phone banker salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

   For example, the average salary for a phone banker in Vermont may be lower than in New York, and an entry-level phone banker usually earns less than a senior-level phone banker. Additionally, a phone banker with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

   Average phone banker salary

   $16.60hourly

   $34,532 yearly

   ---

   Entry-level phone banker salary

   $27,000 yearly salary

   Updated January 30, 2026

   Average phone banker salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Minnesota	$39,192	$19
   2	California	$36,659	$18
   3	Texas	$34,869	$17
   4	Oregon	$32,342	$16
   5	Louisiana	$31,762	$15
   6	South Dakota	$31,753	$15
   7	Virginia	$31,374	$15
   8	Arizona	$31,167	$15
   9	Florida	$31,039	$15
   10	Alabama	$24,392	$12

   Average phone banker salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Advancial Federal Credit Union	$38,780	$18.64
   2	Planned Parenthood	$36,714	$17.65
   3	Randstad North America, Inc.	$34,883	$16.77	2
   4	Regions Bank	$32,594	$15.67	319
   5	Wells Fargo	$32,479	$15.61	1,091

4. Writing a phone banker job description

   A phone banker job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a phone banker job description:

   Phone banker job description example

   Responsibilities

   Department hours are 7:30am-6:30pm Mon-Fri

   SUMMARY

   Receives calls at establishment, determines nature of business to assist callers, or implements transaction by performing the following duties: handles member's daily credit union needs, provides account information, responds to loan questions, and refer loan applications to the appropriate personnel. This position requires you to be service-oriented, self-motivated and to be able to multi-task, and work efficiently.

   ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

   • Answers an average of 60-70 telephone calls daily (subject to change dependent on call volume), and process daily transactions (or services) for members such as balance inquiry, transfer of funds, history information, stop payments or photocopy of check(s), etc. This includes research and resolution of member concerns at different levels of complexity. Process close account requests, address changes, request wire transfers, stop payments, and order checks. Post deposits, loan payments and credit card payments. Issue debit cards and troubleshoot on-line banking. Return voice messages left in the regional voice mailboxes, call back requests, and assist rollover calls from any of the branches. Conduct LexisNexis verifications when needed to verify the identity of a caller. Be a liaison for bill payer support, fraud support, and debit/credit card support. Answer questions related to Skip-A-Payments, and create loan payoff letter for members or third parties.
   • Opens new accounts, checking, certificates, money markets, IRA or CD accounts. Verifies eligibility for new account and processes through ChexSystems prior to opening new accounts. Works with members of the BSA team for applicants that fail OFAC or ChexSystems.
   • Processes check orders for members.
   • Be very knowledgeable on phone etiquette and speak with a clear, concise voice. Be available to field incoming calls, keep abandoned calls, average hold times and keep your time off the phone to a minimum. This is called your idle time.
   • Records and delivers messages, furnishes information, performs member transactions as needed. Responds to internet questions and requests.
   • Being knowledgeable of the features and benefits of all credit union products and services to enable effective cross-selling, especially our checking account, and loan products. Also, be familiar with the basics and benefits of mortgage services and investment services in order to refer them to our Advancial Mortgage, and Investment department.
   • Be available to work during times of company closure due to inclement weather. Options include, working remotely or being available to commute to the office. Local overnight stays may be required.
   • Practices The Member Advantage methodology to assist members, resolve member complaints, and build and strengthen relationships with members and employees.
   • Maximizes service opportunities for current and prospective members and enhances communication through the daily use of our customer relationship management (CRM) system. Manages leads and referrals, updates member demographic data and communications with contacts. Tracks sales and incentive goals. Recommends next best product from marketing campaigns to generate cross sell opportunities.
   • Maintains a positive and caring atmosphere for members and employees consistent with the Credit Union's mission and philosophy.
   • Ensures positive relationships with the branches, internal departments and external partners.
   • Fosters a positive culture throughout the organization.
   • Responsible for maintaining a working knowledge of computer equipment and software required including Microsoft Word, Excel, etc.

   The pay for this position starts at $18/hr. and is based on experience.

   Qualifications

   EDUCATION and/or EXPERIENCE

   Associates Degree (A.A.) or equivalent from two-year College or technical school; and one year of banking or call center experience or equivalent combination of education and experience.

   Overview

   Founded in 1937, Advancial is one of the oldest and largest credit unions in the country. We are an established and proactive full-service financial institution providing personal, convenient and advanced financial services to individuals and select group partners. Our mission is to create lasting value for our members through superior service, quality products, and innovative solutions.

   At Advancial, we always strive to provide the best service and products to our members because we love what we do. We work together to build a culture that promotes a positive employee experience. We've been named a Best Company to Work for in Texas for nine consecutive years and a Best and Brightest Company to Work For nationally and locally because we're serious about building fulfilling careers and not just day jobs.

   We invite you to learn more about this position and what Advancial has to offer by completing our online application.

   Advancial Federal Credit Union is an Affirmative Action and Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, age, national origin, or protected veteran status and will not be discriminated against on the basis of disability. Equal Employment Opportunity Posters
   
   Advancial Federal Credit Union participates in the Electronic Employment Verification process. Please click here for more information.
   
   If you are an individual with a disability and would like to request a reasonable accommodation as part of the employment selection process, please complete the form below. If you'd like to view a copy of the company's affirmative action plan, please complete this form.

   Copy this example

   

5. Post your job

   To find phone bankers for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any phone bankers they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level phone bankers with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   To find phone banker candidates, you can consider the following options:

   • Post your job opening on Zippia or other job search websites.
   • Use niche websites that focus on engineering and technology jobs, such as salesjobs, salesheads, allretailjobs.com, sales trax.
   • Post your job on free job posting websites.

6. Interview candidates

   To successfully recruit phone bankers, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.

   You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new phone banker

   Once you've found the phone banker candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

   After that, you can create an onboarding schedule for a new phone banker. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire a phone banker?