 nixenRockin' the BoxenPremium
join:2002-10-04
Alexandria, VA | reply to RR Conductor
Re: And their never ending excuses said by RR Conductor:said by nixen:Most likely sometime in my lifetime, the only places physical banks will exist will be in places not adequately served by HSI. Physical banks have made themselves so inconvenient and expensive. There's little point in using many of them. I take it you don't live in a rural area, the physical bank is still VERY much an important part of the rural landscape, like my area. That's kind of what I meant when I referred to areas not well served by high speed internet.
Even still, there's not much money to be made in consumer banking. Even less is there to be made when you're paying for things like leasing space, paying HVAC, employing tellers, paying for money shipments (armored vehicle services aren't free), etc. It's quite a bit cheaper to close your physical locations and move everything online. As it becomes ever more practical for banks to move fully online, they will.
As a consumer, being able to bank 24/7/365 is a heck of a lot better of a proposition than trying to get to a physical location during typically short bankers' hours. Dunno about you, but I work during the hours that most banks are actually open. Factor in my commute back home to where my physical bank locations are likely to be close to, and there's almost zero time to go there on anything other than *maybe* the weekend. That was a big part of why I went as fully online as I could.
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The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. -- Bertrand Russell |
| Actually I live in a rural area and work in NYC. Bank branches are popping up in both places. Capital One Bank and TD Bank in particular here have done lots of expansion (even when they were Commerce Bank).
In both places (NYC and northwest NJ) we have access to high speed internet. NYC of course has myriads of choices, out here we have Cable, DSL and fixed wireless. |
