With online banking and ATM’s, there is no need for a physical bank building.
“With online banking and ATM’s, there is no need for a physical bank building.”
ATM’s have limits and only give out $20 bills.
I always wondered how a brick and mortar bank branch, at least so many of them, made profitability sense for a bank. The additional revenue a small branch generates seems small in terms of the cost required to build, staff, and maintain it.
I hardly ever use cash for anything. I hit the ATM about three times a year now for $300 each time. I use my phone and ApplePay for 95% of my transactions. Occasionally a merchant requires a physical credit card.
Our credit card rebates are very nice. I also just got a new Southwest Visa card to snag the 75,000 points on the Southwest Rapid Rewards frequent flier program. That’s good for about four tickets worth $800 to $1,000. All I had to do was charge $3,000 on the new card which was easy to do.
I can’t remember the last time I stepped into a physical branch.
I’ve been watching a lot of “B” Western movies from the late 1930s to the 1950s. I love watching the old Western town bank stick-ups. Banking was SO different then with everybody using cash and checks.
As I noted in my post #8, my bank has been closing branches all over the place. But what really bothers me is that they have not made this up by installing convenient ATMs.
I used to be able to walk to one of their branch banks. Now I’ve got to drive about 30 minutes to get to one of their ATMs. As I noted earlier, they just don’t care about the little guy anymore. It’s all about corporate business. (Which is their right, of course.)
Most of our income is via checks, and I like cash, so visit the bank often. Locations of banks, in general, are thick as weeds around here.
This actually doesn’t have much to do with that as it does the march of globlism and their control of your affairs.
Physical bank buildings give a feeling of stability. And that’s what people with money want. So some of it is illusion - but that matters. One or two banks for large cities would be enough to pull that off.
You’ve obviously never been 20th in line at the local BofA branch. And if you ever need to talk to someone other than a teller, the’ll be happy to make you an appointment for next week.
I was standing in line one day, and an Asian lady wheeled in a cart loaded with plastic bags of quarters. Doubt she wanted to take the 20% haircut feeding them into the machine at the grocery store - or maybe she owned one of the machines.