Posted on 03/09/2024 9:18:18 AM PST by caww
Banks are growing increasingly confident in the capabilities of online banking, according to Steven Reider, the founder and president of Bancography, an Alabama-based consulting firm that advises banks on branch planning and strategies.
That confidence can lead to significant savings since the average freestanding bank branch costs around $2.6 million a year. In just two months, Bank of America's 41 closures might have saved it almost $100 million.
.....And now, credit unions are playing a more significant role than ever before - offering very similar services to traditional banks and eating up a share of the market.
Unlike banks, their footprint is expanding and they now account for around 18,000 branches across the US.
'Credit unions have been in a growth phase for the past 10 years and of course, banks have been in a reduction phase,' said Reider.
'They are branching aggressively and moving into markets community or national banks vacated,' he said.
'I think in terms of just general consumer share they're going to continue to be a significant and meaningful competitive force.'
(Excerpt) Read more at dailymail.co.uk ...
ATM here allows choices of $1, $5, and $20. For example: Withdraw $300 as 15 ones, 9 fivers, and 12 twenties - nice for a cash based shopping/economy...
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Always keep some federal reserve notes out of the banking system.
My great grandfather didn’t during the banking crisis in early 1930’s, and he only received 10% of his money when the bank reopened/reorganized.
I used Credit Union when in Ohio.....what a huge differnce in their service. I still have credit card through them even though I’m now living in another state.
WRONG.
My bank's {PNC} ATMs dispenses 10-20-50-100 dollar bills in any amount that you can cover.
You might want to switch banks.
Credit unions do work better for most folks, and given my current stage in life, I probably should switch to one. Interesting factoid - a decade or so ago, BofA didn’t have any branches in Salt Lake City and only one ATM. Looks like that’s changed now.
Ditto to all. I wouldn’t know how to use an ATM or a debit card.
What's your home address?
Fani Willis and her crew will be over to visit you tonight:)
My virtual bank makes my soc sec direct deposit as much as five days sooner than did the bricks and mortar bank.
Direct deposit transactions actually have two two dates. The sooner one is the date it enters the ACH system (automated clearing house) and the later one is the “supposed to be” effective date for the “deposit”. The two dates can be days apart (and with SS they are). My virtual bank goes ahead and registers the deposit on the first date, my bricks and mortar bank does not.
Newer ATMs at BofA also give a choice of denominations. I don’t think all have been converted over yet.
“My bank’s {PNC} ATMs dispenses 10-20-50-100 dollar bills in any amount that you can cover.”
If you have $8,000 in your account can you make a $7,000 withdrawal?
“You might want to switch banks.”
The closest PNC ATM is 12 miles. My bank branch is two.
Walk into your local bank branch on any random weekday. The place is a ghost town.
Well I don’t need to ride my account that close where it would matter when my check is recorded deposited as I have enough in the account for what I do with it at all times.
I go to the bank about 5 times a week. It has nothing to do with direct deposit but handling cash.
There will be only a few left, holding all the money and in the pockets of the elite after the big scare and then they can use the ultimatum of a cashless society. What ever you may have they will double it to get you in and get control of it no skin off thier a## its worthless
That’s about right!
Which bank? If I works for me I will change from my local bank which sucks (not the tellers so much).
Isn't this really the crux of the issue? It's your money and if you try to withdraw a "large amount" (according to the banks and the gov) in cash they treat you like you are holding it up. When you deposit it they are all lovey dovey....
I don't know, as I usually only carry about 3-4 grand in my personal account and have only ever cashed out at $800.
Our joint account has 5-6 times that, but I never use it as my cash piggy bank because Mrs. Alaska reviews that one like an IRS agent... nuff said.
She has NO computer access to my little, fluid ATM account... and that's for her own mental protection. {That's just the kind of loving guy that I am}.
A cashless society is a tyrannical society
What is the annual fee on that Southwest Visa card?
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