Mystery shopping assignments at banks can be exciting and lucrative, but they can also be a headache if you don’t know what you’re in for before you accept the challenge. If you’ve never tried mystery shopping at a bank, here’s what you need to know:
Get Ready. In many cases, a bank assignment will start as soon as you receive the notification that you’ve been awarded the assignment. Many bank assignments will require you interact with a specific bank representative inside the bank. So first, you will need to call and schedule your appointment.
You may be asked to open a bank account, apply for a credit card, or even apply for a home loan. Each of these tasks requires some additional commitment on your part as well. For instance, to open a bank account, you usually need to make a deposit into your new account to establish it, so you should be prepared to transfer those funds from your other accounts. For credit cards and home loans, be ready to permit your credit report to be pulled and also provide income verification if necessary. You will want to bring some of these items with you to the site visit, so there is quite a bit of prep work required.
A Long Visit. In many cases, your site visit at the bank will be fairly lengthy. Your bank rep will ask you a large number of questions to fill out your credit application, home loan application, or to open your bank account. So be prepared to answer personal questions for at least twenty to thirty minutes, if not longer.
A Return Visit. In some cases, your requirements will ask that you return to the bank anywhere from a few days to a week later. The reason for this may be to sign additional paperwork to activate your new account, or perhaps for you to ask the rep follow up questions. With the prep work before the site visit, and then one to two site visits, the amount of time you are committed to a bank mystery shopping assignment is fairly hefty.
No Smiles At Report Time. Mystery shopping reports for bank assignments are no laughing matter. In most cases, they are longer than average. However, if you took good notes throughout your experience, the reporting should fly by.
A Happy Trip Back To The Bank. When you make your final trip back to the bank to cash that big, fat paycheck, you will be all smiles. Bank assignments typically pay very nicely. For a more simple site visit, such as opening a savings account, you may expect to receive $30-40. For applying for a home loan, you can typically expect to receive upwards of $150. So while your time commitment to the assignment may be significant, your time is well-compensated.
There are other less-involved bank assignments, such as checking the quality of service at a teller drive-thru window. But these higher-paying assignments are typically the assignments that catch the eye of mystery shoppers scanning the job boards. If you’re interested in doing one of these assignments, request the assignment early, because they tend to go fast!
Hi Maven: Thank you for the tips on bank assignments, I have just accepted on and your advice has helped. You are a God Sent!!
I been robbed!! I’ve just completed 3 bank shops, two of which were separate branches of the same bank, yet the compensation was a paltry $15 per!! Whatz~UP with THAT?? Perhaps you may want to alert us to these higher paying bank shop schedulers! I have not applied for the high~end home loan shop!! The fees were attractive, but my less than stellar credit standing, precludes any potential bouts with frustration. Good article, thank you.
I do mainly bank shops. I typically do the customer service shops. They take a minimal amount of time, pay $12-$15, and I can do 3-4 in one day. I have done a few of the high end ones for investing. I will not do any that require I divulge personal information so that it won’t affect my credit rating.I find the teller and customer service bank shops easy and I’ve been able to earn $200-$300 per month.
I agree with “K”. These banks are easy to do. There is no investment involved, except sometime you have to wait to see the customer rep. The reports are usually yes and no types with comments added at the end of each section. There is usually a time limit set by the sceduler that you must wait. Once you interact with the rep, usually by asking about opening a checking account, the interview only takes a few minutes. I find this type of bank shop to be one of the easiest shops to do.
I doubt your were robbed Angalifu. It all depends on what type of shop you are doing. The customer service shops where you are just making a deposit or withdrawal or inquiring about opening an account are always about 15 as far as I have seen. The higher paying ones usually require multiple interactions or opening an account.
I can do the jobs after 12:00 noon monday -saturday
I have never done a bank job and have hesitated to due to an experience with a pay day loan shop that was extremely tedious to do; it lasted a long time, I was never offered a seat and they screwed up my SIN information, mixing someone else’s number with my name. It was horrid and I was treated in a humiliating manner.
But I suppose one would expect better treatment in a bank. The above comments have inspired me to give it a try!
I will say to all of the ones who have felt like the bank shops won’t pay! That is most of what I do day to day,I sometimes do about 5-6 a day but on a good day I am sure to complete at least 4. If there is some travel involved I am usually given the travel allotment because your schedulers can afford it if mentioned but you have interact w/ your scheduler until they know you aren’t a flake as they call it when you sign up then leave them hanging and that is what the citation is called they will put that on your page and it lowers your ratings. Some companies don’t care about ratings they just want reliable shoppers. I also wanted to share about my first graveyard shop,whereas I have to do some clean-up at the graveside and place flowers on it quick $30.00 for that and the survey, Oh! I forgot the photos a total of three which I can take with a digital camera. The main part of MS is that you are able to write the accompanied report that they require, I don’t care how good the shop comes off if you can’t express the experience the shop isn’t worth diddley-squat to the schedulers and that’s the God honest truth. The report is what makes the whole thing valid and credible for their clients and I thank you for this forum,frankly I enjoy this one better than Volition and some of the other big ones because of the “Super Shoppers” that hang around giving Newbies Tips from the tales of the SHOPS~ :))
I do bank shops often as well.Sometimes up to 4 a day.Easy yes/no questions and a quick $15 each with very little work required. I don’t mind doing them at all.