Posted on 10/16/2023 6:00:03 PM PDT by Libloather
The Bank of America branch closed in my city at least 10 years ago. And a search on the Wells Fargo site says there isn’t a branch within 100 miles of me.
RE: There aren’t enough banks because of the color of people’s skin!!!
Ha.
Let’s go back to basing it on the content of the bank customers’ character.
Plenty of banks where I live.
I know someone in Idaho who said a few wells bank branches closed and the mostly older people are quite upset.
I was told they are short staffed in the remaining branches.
Regardless, you cash machine advocates, how you gonna get 10 or 20k if you need it? PayPal? Ven-mo? cash-app? money gram? western union?
Don’t get me wrong, Banks are evil, but lack of banks would be worse.
Bank branches have become obsolete for the most part now. With the ability to do most of one’s banking online going to the branch bank is not as important.
I use Fidelity Cash Management as my bank. Zero monthly fees and all ATM fees are reimbursed. Very user friendly website.
And a $100 bill is a piece of paper with some ink on. A quarter is some worthless alloy. Digital currency is no less weird than this.
I have rental properties, my tenants often pay rent in cash, I take it to the bank. I don’t even use the drive through, I take it inside and have the teller count it in front of me. On occasion I purchase something on Craig’s List, cash only. I have purchased used cars from Craig’s List for over ten thousand dollars. I always go armed with a someone else riding shotgun. Sometimes I don’t want my purchase on my credit card, I don’t always want my spouse to see what I paid for something, especially if it is a gift for her. Cash is king.
They might better close since Biden is making them loan money to illegals.
But seriously, banking online is very risky. And if something goes wrong then have fun talking to cyberspace. I will only do physical banks for as long as I can.
It’s been years since I’ve been in a bank. With direct deposit and online banking, there is almost zero need for me to go.
I think it is reasonable to have faith in Jesus Christ and not much else. But does the government have any creditability left?
Why shouldn't we believe a half dozen geeks in their basements who come up with a form of money?
Apple has a deal with Goldman Sachs and pays 4.15% on my balance. I can wave my phone at most stores to pay. I still have an account at Chase, my local brick and mortar but rarely go there. I do most of those transactions electronically. Occasionally, I use the drive through ATM. All of my income streams are deposited automatically and when I receive a check I deposit it with my phone camera from home.
I do keep a stash of cash and precious metals for emergencies. The current system works well.
It’s always an interesting decision about how to expand or contract retail operations in the face of changing consumer tastes, demographics, the health of the economy, etc.
I personally hardly ever go to a bank any more. I pay for 90% of my purchases with my phone. I can get $300 from the ATM machine and it would last me two months (if my wife didn’t raid my wallet). So I don’t need a branch bank at all. My wife, on the other hand, doesn’t pay with her phone and hits up the ATM probably twice a week for $40. I view that as a HUGE waste of time.
Of course, I worry about the growth of central bank digital currencies and our loss of privacy, but that privacy horse left the barn long ago. So I merrily continue with my electronic transactions.
I suspect these branch closures are more about changing customer tastes than anything.
Of course, some of those branches are in rough parts of town (Cos Cob excepted) and safety of customers and employees may be an important part of the decision.
Yes,it’s easy to understand why a bank might close a branch in a less than affluent area just as it’s easy to understand why a drug store chain or a supermarket chain might do so. I was just struck by Cos Cob a) because I’m familiar with it and b) because it’s so damn rich.
More like the cause depression on the creep.
It’s been gone but because there is no WF bank in the county, they will reimburse any ATM fees
Odd, isn’t it? Maybe the rich are more inclined to bank online and have concierge investment bankers at their disposal?
Excellent Plan!
“Odd, isn’t it? Maybe the rich are more inclined to bank online and have concierge investment bankers at their disposal?”
It sure is odd that banks would cater to those with money. I can’t imagine why. /s
On a serious note, online banking is for those with the mental capacity to use computers. I’ve been using quicken since DOS 3.0 days.
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