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Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I would suggest that much of this is a temporary condition, due to the number of now elderly bank customers trying to deal with technology. Once their kids grew up and moved out they lost their built-in tech support. Once they become unable to handle their finances the remaining bank customers raised with iPhones will have little or no use for going into a bank. I am 66 and haven’t been in a bank since I closed my business account in 2009. I do everything online now, and in the rare case that I need cash I use the ATM.
So I admit, I still use banks. first I like personal interaction. Next I loathe with the heat of 10 burning suns those ridiculous prompts on the phone. God help you if you need a question answered that does not fall into the "categories".
Case in point, I have a small account with PNC bank, it's not my main bank where my paycheck or mortgage goes into, but it's near me and it's convenient. anyhoo I forgot a transaction on my checking account and needed some information. 25 minutes on the phone I simply hung up, walking home from the gym, I quickly popped in, walked up to one of those guys in the glass offices, told him my question and my problem, 3 minutes later walked out.
I don't think they will ever totally go away but I do agree that as the population gets older and the younger "smart phone" generation gets bigger and bigger the need will decrease significantly.
they said the same thing though about travel agents and my good friend is easily making upper 6 figures with her agency.
Not too hard to pay them more. Around here, people working at Chick-fil-a get paid more than the tellers. It was surprising to me just how low wage of a job a bank teller is.
As previously noted. An increase in teller pay is only temporary. I find that I rarely go to the bank for anything these days whereas just 5 years ago I went several times a week. This is a job that will go the way of the buggy makers in the early 1900's when the automobile started to become popular!
I am all new school with everything I do in my personal life but for business I’m sorry we are all old school. New tech is vastly overrated when it comes to what we do and it simply isn’t there yet. We ship hard drives cross country for video shoots because our shooters don’t always or even usually live anywhere they’d be willing or able to upload 25-200 gigs of data. We also don’t want to download that much data x10-20 shoots per month. ISPs cap downloads still in many markets including mine. For the banks, those adorable little apps don’t get it done. $10,000/month deposit limit for checks on mobile?! I get more checks in a week than that many times. This is a business. And writing “For Mobile Deposit only Wells Fargo Bank” on 15 checks at a time isn’t faster than just driving to the bank that’s quite literally 3 minutes away across the street.
It’s less hassle and just easier. We still use checks for everything, we are B2B so we don’t accept credit cards and most of our clients wouldn’t pay that way anyway. For companies we are all still used to writing checks to each other. I do pay maybe about 25-40% of our videographers and contractors via PayPal or credit card and if they want to pay those fees god bless them! I get 2% cash back on my business card so I’ve added $1,200 in savings this year just on cash back rewards. But I always give everyone an option, PayPal now or check in the mail. Some like the money now even if they have to pay fees.
I’m probably one of the only people I know though who still goes to the bank every 2-3 weeks.
I would suggest that much of this is a temporary condition, due to the number of now elderly bank customers trying to deal with technology. Once their kids grew up and moved out they lost their built-in tech support. Once they become unable to handle their finances the remaining bank customers raised with iPhones will have little or no use for going into a bank. I am 66 and haven’t been in a bank since I closed my business account in 2009. I do everything online now, and in the rare case that I need cash I use the ATM.
Cash? What is that. I have not carried cash for years.
A lot of people still go to banks. I'm in my main bank at least 15 times a month for work, and there is almost always a line, even when there are 2 or 3 tellers working. Sometimes there is a line clear to the door when there are 4 tellers working (bank only has 4 teller stations). Once a month, I go to 12 or 13 different banks, and usually wait in line in at least half of them.
My friend is a part-time bank teller and they started her out at 16/hr, which is good for here. Just 5 years or so ago I was thinking of becoming a teller while I was in college, but they paid min wage then. I made more working in the food service industry. Plus, they always start you out at part-time and I needed full-time.
My friend says they are usually pretty busy. Sometimes they have down-time, but it's not a lot.
I never go to my bank unless I have a check for some reason.
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