Does anyone have any information as to if they allow CSRs and/or managers negoiate rates with CD customers? If so, what are levels of authority and what % are you seeing that is none standard? We are considering it, but Sr Mgt is worried staff will give away the farm and it will be widespread.

at a bank I used to work for the rates we had were tiered. Minimum level and then a standard above like 10k were given a better rate. Any CSR authorized could give the bump to the 10k rate and then managers could give an additional .25 per their discretion.

Your problem is generally that CSRs and managers are incented based on the amount of deposits they bring in, but not based on the rate paid on those deposits, so they have no incentive to NOT give the bump.

Unless you're going to track the amount of deposits brought in at the stated rate, and the amount brought in at the bump rate, I'd keep the amount of discretion pretty small.

Our bank lets managers negotiate rates if need be. They can add .50% to regular rates and .25% to specials.