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Old 02-03-2020, 12:29 AM
 
1,019 posts, read 611,724 times
Reputation: 896

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Quote:
Originally Posted by Lowexpectations View Post
They will reduce in numbers but I don’t see a path where they all go away
I would have thought the same but I have seen the opposite. There's more banks around here than ever before. I guess people still like visiting banks. I haven't been to one in several years.
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Old 02-03-2020, 12:50 AM
 
Location: Tyler, TX, born + raised SF Bay
1,568 posts, read 853,468 times
Reputation: 1234
Quote:
Originally Posted by Mr.Hospitality View Post
I would have thought the same but I have seen the opposite. There's more banks around here than ever before. I guess people still like visiting banks. I haven't been to one in several years.
Depends. If you’re landlording as I did for a few years, you go to the bank.

If there’s mortgage options I don’t know about, fill me in, but you go to the bank.

If you do much more than paying your credit card, you go to the bank.
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Old 02-03-2020, 01:13 AM
 
1,019 posts, read 611,724 times
Reputation: 896
Quote:
Originally Posted by jcp123 View Post
Depends. If you’re landlording as I did for a few years, you go to the bank.

If there’s mortgage options I don’t know about, fill me in, but you go to the bank.

If you do much more than paying your credit card, you go to the bank.
I do commercial landlording and I handle all mortgages over the phone. For personal mortgages, I just call my credit union.

I do a lot more than paying credit cards. I deposit money, withdraw money, transfer money, etc.
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Old 02-03-2020, 04:36 AM
 
3,072 posts, read 2,018,461 times
Reputation: 6909
Quote:
Originally Posted by jcp123 View Post
Depends. If you’re landlording as I did for a few years, you go to the bank.

If there’s mortgage options I don’t know about, fill me in, but you go to the bank.

If you do much more than paying your credit card, you go to the bank.
You can deposit checks with a picture from your phone. I transfer money from my phone. My entire mortgage and all documentation was done through a portal to upload the documents and the signatures were all electronic.
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Old 02-03-2020, 07:55 AM
 
3,117 posts, read 1,210,921 times
Reputation: 8167
Quote:
Originally Posted by Thatsright19 View Post
You can deposit checks with a picture from your phone. I transfer money from my phone. My entire mortgage and all documentation was done through a portal to upload the documents and the signatures were all electronic.
Same here except that I don't transfer money from my phone. I do everything on-line with my laptop, including paying all my bills.

I've read that some banks are experimenting with cafe- type "branches" where you can sit and have coffee, use free Wi-Fi, etc. It's meant to provide a relaxed atmosphere where maybe you'll be more open to buying investment products or other "financial planning" services. I don't buy my investments from banks. Never have.
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Old 02-03-2020, 08:31 AM
 
Location: WA
5,459 posts, read 21,821,369 times
Reputation: 6130
A couple of things to remember...

Comercial banking for small business have different needs than idividuals and are often best served by branches.

Banks are run by 'bankers' that see the business having a street presence not by analysts with priorities of online volume. Investments in retail stores will continue.
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Old 02-03-2020, 09:08 AM
 
7,027 posts, read 5,221,555 times
Reputation: 15240
There are 6 Chase Bank locations within about 5 miles of my house. I visit the nearest one about once a year when I need something notarized or want a large amount of cash for a travel or to pay a tradesman who wants to avoid sales taxes. When I visit, I am amazed and the number of customers both in the branch and using the auto lane. I have no idea why so many people need to use the branch.
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Old 02-03-2020, 12:11 PM
 
1,060 posts, read 666,166 times
Reputation: 1366
My branch can make a new debit card on the spot and also houses my safety deposit box. I also prefer to open new accounts in person and get have temp checks issued to start using right away.
My home address is a little wonky with a PO Box and the branch receives new credit cards for me to go in and pick them up.
I also see people swapping bags of change for paper money at the branch. I use tdbank.
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Old 02-03-2020, 01:52 PM
Status: "I am only here for the Schadenfreude" (set 5 days ago)
 
Location: The Berk in Denver, CO USA
14,588 posts, read 21,484,823 times
Reputation: 24484
They are building more branches in my neighborhood.
Seems weird to me as I have not been in any brick & mortar building for "banking" in over 8 years.
I do everything online.
And, I am an old fart of 71.
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Old 02-03-2020, 07:24 PM
 
4,589 posts, read 2,554,376 times
Reputation: 5628
I think bank branches will be staying, but I do not know why. I make about 3-4 visits per year to one.
The bank branch I typically go to isn't that crowded.
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