Bank branch closures
Discussion
The use of cheques has dropped off massively compared to years ago - but there are times when a cheque is still the most practical and efficient way of making a payment. At one point the banks announced they were going to stop issuing cheque books by 2015. There was such an outcry that they backed down. So far they have not revisited that strategy.
Indeed, even when they were saying cheques were going to be a thing of the past, they admitted that something like a cheque would need to remain so that "cheque type transactions" could still happen. They admitted of course, that they would have to charge a fee for each "cheque that wasn't a cheque" issued.
I rarely write a cheque these days but some of my clients still do and quite a few people who pay into the charity I administer still like to use cheques specifically for that.
Indeed, even when they were saying cheques were going to be a thing of the past, they admitted that something like a cheque would need to remain so that "cheque type transactions" could still happen. They admitted of course, that they would have to charge a fee for each "cheque that wasn't a cheque" issued.
I rarely write a cheque these days but some of my clients still do and quite a few people who pay into the charity I administer still like to use cheques specifically for that.
I still haven't seen much in the way of comments as to why people can't just use the Post Office for their routine transactions.
In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
Robertj21a said:
I still haven't seen much in the way of comments as to why people can't just use the Post Office for their routine transactions.
In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
The Post Office is not as versatile as a bank for over the counter transactions. As an example, only in January HMRC sent out a notice saying that they would no longer accept payments of tax through Post Office payments - which is a major inconvenience for many individuals and businesses.In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
It's ironic that only a few years ago, the general view was that Post Offices were for "old people, unmarried mothers and the unemployed" i.e. those who are receiving state payments and as a result people who didn't really matter. Indeed, the government seemed to support this view with many, many Post Offices having to close.
Now, the Post Office is seen as a bit of a saviour. It's amazing how mood and views change. You never know, you might even see banks reassess their branch closure programmes just like the Post Office did.
Robertj21a said:
I still haven't seen much in the way of comments as to why people can't just use the Post Office for their routine transactions.
In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
Individuals can use the Post Office for routine transactions, yes. Not sure about businesses, particularly those who have significant cash transactions, that's in terms of both paying in and obtaining bags of change. Not sure if they are happy to do this, a couple of our P.O. counter staff seem to get a bIn the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
hface on when asked to do something that is beyond the simplest of tasks. Moving in that direction would be beneficial to both the P.O. network, their own bank, and those banks who have followed Govt pressure to sign up to the scheme to allow their customers to use the P.O. for basic services. Not all have done so.Yet there are still needs to be able to talk to someone. People have given examples.
It's true as shown in this article that the P.O. network 93% live within a mile of their nearest P.O., and 99.7% within 3 miles, as required by Govt so the network is still there, and certainly we have one in the village store. The nearest town 30,000 pop, has two bank branches, one on very iffy ground, a third one has recently closed, and one P.O. in the COOP supermarket. Not exactly rural back of beyond..
FiF said:
a couple of our P.O. counter staff seem to get a bhface on when asked to do something that is beyond the simplest of tasks.
hface on when asked to do something that is beyond the simplest of tasks. 
I've found the PO very hit and miss, some give you great service, but there are some who huff and puff at any non-routine task. The other issue is whether PO branches are capable of dealing with such an increase in footfall. The one in my town always has a queue, same with the 2 banks I use (and I imagine the other 2 banks in town).
Robertj21a said:
I still haven't seen much in the way of comments as to why people can't just use the Post Office for their routine transactions.
In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
On the few occasions I have been to the post office I always get stuck behind the person trying to send thirty eBay parcels that all need to be individually weighed. In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
I am actually struggling to think of anything with regards to banking that I could do at the post office. Surely if I have bills to pay it is easy to pay them with direct debit or online?
Saying that I may be remortgaging my BTL with the post office in December as they are offering the best rates I can find. Fingers crossed I don't have to actually go into a branch.
I'm lucky that I live in a city, so can't see the city centre branch closing for a while.. The downside is that it is a complete PITA to get to, so I used to use the smaller branches in the suburbs, or even the next town, as they were easier to park at. However,, one by one they have closed and it is now only the city centre branch that is open.
I was a bit pissed off at the branches closing, but I haven't actually had to visit the city centre branch, the odd occasions I have had to pay money/cheques in I have done so at the Post Office, which is walking distance from my house. Everything else I have done online.
A few years backed I switched one of my accounts to First Direct, who do not have branches, this has not been an issue at all, as they are well set up for dealing with customers over the phone.
I was a bit pissed off at the branches closing, but I haven't actually had to visit the city centre branch, the odd occasions I have had to pay money/cheques in I have done so at the Post Office, which is walking distance from my house. Everything else I have done online.
A few years backed I switched one of my accounts to First Direct, who do not have branches, this has not been an issue at all, as they are well set up for dealing with customers over the phone.
Zetec-S said:
NRS said:
Are you willing to pay more for this? We have yearly payments to cover costs here in Norway. The UK has done more of a race to the cheapest - which results in paying less for stuff, but reduced quality overall.
I don't think it's a simple as charging people. Would a £10 per month fee (for example) really be enough to stop banks closing branches? I don't think so, they'd still be closing the smaller, less profitable branches.bad company said:
Joey Deacon said:
I don't know if I am in the minority but I have not been to a bank for years. I don't own a cheque book and I cannot remember the last time I was actually given one. I pay for everything on my card and never carry cash, last time I took out £10 from an ATM it sat in my wallet for a month until I spent it to get rid of it.
I do everything using the online bank app on my phone, it is so much easier and convenient than having to use a bank. Even when I bought my last house, I arranged the mortgage over the phone, I never visited the bank (actually not sure if they even have physical branches)
I don't actually see why anybody would actually want or need to visit a bank branch anymore?
Yes, I think you are in a minority.I do everything using the online bank app on my phone, it is so much easier and convenient than having to use a bank. Even when I bought my last house, I arranged the mortgage over the phone, I never visited the bank (actually not sure if they even have physical branches)
I don't actually see why anybody would actually want or need to visit a bank branch anymore?
I have reason to visit a branch once or twice a year, the last time was to take in my mother’s death certificate and my id as executor. As I said there’s sometimes a good reason to visit rather than spend ages on the awful telephone system.
Cheques are still handy but used much less often. I believe they are still the only way to pay for Wimbledon tennis tickets from the ballot for example.
Joey Deacon said:
I don't know if I am in the minority but I have not been to a bank for years. I don't own a cheque book and I cannot remember the last time I was actually given one. I pay for everything on my card and never carry cash, last time I took out £10 from an ATM it sat in my wallet for a month until I spent it to get rid of it.
I do everything using the online bank app on my phone, it is so much easier and convenient than having to use a bank. Even when I bought my last house, I arranged the mortgage over the phone, I never visited the bank (actually not sure if they even have physical branches)
I don't actually see why anybody would actually want or need to visit a bank branch anymore?
When we owned the business, we'd be in the bank paying in cash and getting bags of coins for change at least once a week.I do everything using the online bank app on my phone, it is so much easier and convenient than having to use a bank. Even when I bought my last house, I arranged the mortgage over the phone, I never visited the bank (actually not sure if they even have physical branches)
I don't actually see why anybody would actually want or need to visit a bank branch anymore?
So other people's lives may be different to yours.
Joey Deacon said:
Robertj21a said:
I still haven't seen much in the way of comments as to why people can't just use the Post Office for their routine transactions.
In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
On the few occasions I have been to the post office I always get stuck behind the person trying to send thirty eBay parcels that all need to be individually weighed. In the UK there will never be enough customers prepared to pay for their personal banking, so more branch closures are inevitable - there really is little overall demand these days and it's expensive on both premises and staffing.
I am actually struggling to think of anything with regards to banking that I could do at the post office. Surely if I have bills to pay it is easy to pay them with direct debit or online?
Saying that I may be remortgaging my BTL with the post office in December as they are offering the best rates I can find. Fingers crossed I don't have to actually go into a branch.
Having said that, I've rather surprised myself by realising that I haven't been in to any bank for some years now. I still have cheque books (but hardly ever use any cheques), direct debits and standing orders - and I still get paper statements for 2 accounts, but just online for the other one. Depositing of cheques, or drawing out cash, is just by using an ATM. Not sure why I'd need a physical bank nowadays.
Technology and removal of subsidy will continue to reduce bank branch network. How it survived for so long as a free service is a curiosity, it was an inducement that would never been allowed elsewhere in financial services. If their was a real political will to provide banking access to all, they wouldn't have introduced bank levy or depositor protection schemes (albeit much of this was European directive).
Robertj21a said:
I must agree that the PO can get very bogged down by others posting parcels, or arranging for passports etc. It's also evident that the staff can be very helpful, or not.
Having said that, I've rather surprised myself by realising that I haven't been in to any bank for some years now. I still have cheque books (but hardly ever use any cheques), direct debits and standing orders - and I still get paper statements for 2 accounts, but just online for the other one. Depositing of cheques, or drawing out cash, is just by using an ATM. Not sure why I'd need a physical bank nowadays.
Are you in business or are you an employee?Having said that, I've rather surprised myself by realising that I haven't been in to any bank for some years now. I still have cheque books (but hardly ever use any cheques), direct debits and standing orders - and I still get paper statements for 2 accounts, but just online for the other one. Depositing of cheques, or drawing out cash, is just by using an ATM. Not sure why I'd need a physical bank nowadays.
If you are in business, are your customers as switched on to new style banking as you are? If they are not, how do you cope with them paying you in old fashioned ways.
If you are opting for modern methods of banking, accounting etc, are you 100% sure you are complying with the obligation to keep adequate records for the required time periods set out in law?
Eric Mc said:
Robertj21a said:
I must agree that the PO can get very bogged down by others posting parcels, or arranging for passports etc. It's also evident that the staff can be very helpful, or not.
Having said that, I've rather surprised myself by realising that I haven't been in to any bank for some years now. I still have cheque books (but hardly ever use any cheques), direct debits and standing orders - and I still get paper statements for 2 accounts, but just online for the other one. Depositing of cheques, or drawing out cash, is just by using an ATM. Not sure why I'd need a physical bank nowadays.
Are you in business or are you an employee?Having said that, I've rather surprised myself by realising that I haven't been in to any bank for some years now. I still have cheque books (but hardly ever use any cheques), direct debits and standing orders - and I still get paper statements for 2 accounts, but just online for the other one. Depositing of cheques, or drawing out cash, is just by using an ATM. Not sure why I'd need a physical bank nowadays.
If you are in business, are your customers as switched on to new style banking as you are? If they are not, how do you cope with them paying you in old fashioned ways.
If you are opting for modern methods of banking, accounting etc, are you 100% sure you are complying with the obligation to keep adequate records for the required time periods set out in law?
Yes, 110% sure that I comply with all record keeping requirements, as I always have. If anything, it's much easier now with on-line statements that cover any period I request. Not at all sure why you feel there is a potential problem ?
Eric Mc said:
Robertj21a said:
I must agree that the PO can get very bogged down by others posting parcels, or arranging for passports etc. It's also evident that the staff can be very helpful, or not.
Having said that, I've rather surprised myself by realising that I haven't been in to any bank for some years now. I still have cheque books (but hardly ever use any cheques), direct debits and standing orders - and I still get paper statements for 2 accounts, but just online for the other one. Depositing of cheques, or drawing out cash, is just by using an ATM. Not sure why I'd need a physical bank nowadays.
Are you in business or are you an employee?Having said that, I've rather surprised myself by realising that I haven't been in to any bank for some years now. I still have cheque books (but hardly ever use any cheques), direct debits and standing orders - and I still get paper statements for 2 accounts, but just online for the other one. Depositing of cheques, or drawing out cash, is just by using an ATM. Not sure why I'd need a physical bank nowadays.
If you are in business, are your customers as switched on to new style banking as you are? If they are not, how do you cope with them paying you in old fashioned ways.
If you are opting for modern methods of banking, accounting etc, are you 100% sure you are complying with the obligation to keep adequate records for the required time periods set out in law?
If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
V8mate said:
Per my bold, Tesco stopped accepting cheques ten years ago. (I was actually quite shocked that it was that long ago when I went to check!)
If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
It should be up to each and every business and individual how they chose to conduct their affairs. They should not be dictated to.If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
If a system is vastly superior, eventually people will change to it. There is no need to rush and force things. I'm all for letting the "market" decide on this issue. It just seems banks are not content to let their customers operate in a free market environment. They are pushing their agendas without wanting to cater for their customers.
There are 5 million small businesses in the UK - all individual and all operate in their own individual way.
Why is it so hard to have a logical conversation with you, Eric?
The original schedule was for cheques to have been entirely eradicated by 2018. http://news.bbc.co.uk/1/hi/business/8414341.stm
A stay of execution came about in 2015, but they're going. Alternatives abound - it's not as if society is being left high and dry - but your best argument is that you don't like being dictated to.
Banking has improved ten fold in this country with the arrival of digital technology and one hundred fold by the arrival of challenger banks. More payment options and opportunities exist now than at any time in all history. You're making yourself look as foolish as Canute.
The original schedule was for cheques to have been entirely eradicated by 2018. http://news.bbc.co.uk/1/hi/business/8414341.stm
A stay of execution came about in 2015, but they're going. Alternatives abound - it's not as if society is being left high and dry - but your best argument is that you don't like being dictated to.
Banking has improved ten fold in this country with the arrival of digital technology and one hundred fold by the arrival of challenger banks. More payment options and opportunities exist now than at any time in all history. You're making yourself look as foolish as Canute.
The way I read some of the comments on this thread suggests that some people are just simply refusing to join the modern world - whether they are a business with systems from decades ago, or individuals that prefer life from pre-decimalisation times !. I can think of examples who would fit that bill just in my own life.
There's no reason why they shouldn't continue in whichever way they feel most comfortable but they have to also recognise that they are becoming an ever smaller minority and the range of services suitable for them is going to dry up over time.
I know a few small businesses that will still only take cash (or cheques!), but their total inability to accept basic card payments is just hastening their demise.
V8mate said:
Per my bold, Tesco stopped accepting cheques ten years ago. (I was actually quite shocked that it was that long ago when I went to check!)
If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
Cheques might be a very outdated way of making payments, but we still issue over half a billion of them every year. Yes, a lot of those payments could be made by other means, but it's easy to forget there are a lot of people who don't have a smartphone or even internet access. And even then, a lot of people who do have access are still not particularly au fait with the technology.If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
Zetec-S said:
V8mate said:
Per my bold, Tesco stopped accepting cheques ten years ago. (I was actually quite shocked that it was that long ago when I went to check!)
If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
Cheques might be a very outdated way of making payments, but we still issue over half a billion of them every year. Yes, a lot of those payments could be made by other means, but it's easy to forget there are a lot of people who don't have a smartphone or even internet access. And even then, a lot of people who do have access are still not particularly au fait with the technology.If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
My local railway operator, for example, always issues refunds or delay payments by cheque. They must issue tens of thousands each year. The claim and payment process could so easily be replaced by an electronic one.
And everyone who uses a train has a smartphone, so they can moan at the operator on Twitter
Eric Mc said:
V8mate said:
Per my bold, Tesco stopped accepting cheques ten years ago. (I was actually quite shocked that it was that long ago when I went to check!)
If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
It should be up to each and every business and individual how they chose to conduct their affairs. They should not be dictated to.If major businesses have been 'getting with the programme' for that period, organisations who still accept (or even require!) payment in such a format really need to take a look at their processes.
If a system is vastly superior, eventually people will change to it. There is no need to rush and force things. I'm all for letting the "market" decide on this issue. It just seems banks are not content to let their customers operate in a free market environment. They are pushing their agendas without wanting to cater for their customers.
There are 5 million small businesses in the UK - all individual and all operate in their own individual way.
The banks are operating in a free market. They just choose what they want to do, and do that. If you want a different service you can find another company who does it instead. If no companies are offering it then it tends to suggest there is an issue with it. If you don't think there is an issue then surely you should invest your own money in a company to provide that service - if you think the market is missing out on something that people want (AND are willing to pay for).
You say other people shouldn't dictate what you choose, but in reality you are choosing for them just as much if your view is the one going ahead. They could get services for less money, but for example if you keep cheques going then everyone is subsidising those few people that keep using them. So someone is "forcing" their preference on the other no matter what is done.
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