Branch banks are obsolete. With direct payroll deposit, deposit by I phone and debit cards, there is no real need to visit a branch bank.
I got a check for $2.17 just yesterday for some class action suit.(TD Bank)
I will burn $2 in gas to deposit it…
My 25 year old son uses Aly bank. This is an internet ONLY bank. No branches. He is typical of his generation. No reason to go to the bank for the average consumer.
I am an investor in a local business bank here in NH. They have two locations. 57% percent of their AR is business loans. They DO NOT write mortgages. They will give an individual a checking or savings account.
So I take it you don’t like the branch bank .000002376% savings account annual interest rate?
Lol.
I go to a branch bank to use the attached ATM. I’m doing my part to keep cash alive and keep us off a CBDC. If we get to that point, we’re done.
No, they aren’t obsolete. Many reasons to walk into a branch. The branches near here are always busy.