Bank branch closures

[Robertj21a]

Eric Mc said:

Sheepshanks said:

Eric Mc said:

And yet, whenever I pop into my local bank branches (for various reasons I need to use Lloyds, Barclays and Natwest) - they ALL have queues.

It's old people checking their money is still there.

It is emphatically not. It's usually people asking carrying out fairly complex transactions or local traders depositing cheques from their customers or banking cash takings or extracting cash for the days business.

We do not yet live in a cashless society and I for one hope we never do.

One of the problems is that the banks are now understaffed and can't cope with the numbers who still want to deal with humans and not machines.

The banks are not understaffed. They allocate staff largely in accordance with where their profits will be achieved (like any efficiently run business) - generally loans, mortgages, insurance etc. The personal customer carrying out routine transactions will, understandably, be redirected to a machine that can handle most requirements and the local trader will often be redirected to the Post Office. The banks do not make much/any profit from these customers so will not allocate much in the way of staffing to resource cashier positions.

[ScotHill]

Eric Mc said:

For those who are happy to conduct all their banking using on line facilities, by all means let them do so.

For those who don't chose to do that, they should be facilitated too.

Why should the former group of people subsidise all the buildings and staff that facilitate the latter group of people?

HSBC's footfall dropped 40% in 5 years, it'll be similar across all banks - in any business, if ANYTHING drops by 40% over 5 years you have to do something about it.

http://www.cityam.com/238287/a-drop-in-footfall-me...

Edited by ScotHill on Thursday 17th May 21:25

[Pulse]

You could bank with Nationwide, instead. They're keeping branches open, and in fact it's an active part of their strategy, so don't see them changing approach too soon.

[Robertj21a]

Pulse said:

You could bank with Nationwide, instead. They're keeping branches open, and in fact it's an active part of their strategy, so don't see them changing approach too soon.

Yes, notably a Mutual rather than a PLC.

[FiF]

Eric Mc said:

Sheepshanks said:

Eric Mc said:

And yet, whenever I pop into my local bank branches (for various reasons I need to use Lloyds, Barclays and Natwest) - they ALL have queues.

It's old people checking their money is still there.

It is emphatically not. It's usually people asking carrying out fairly complex transactions or local traders depositing cheques from their customers or banking cash takings or extracting cash for the days business.

We do not yet live in a cashless society and I for one hope we never do.

One of the problems is that the banks are now understaffed and can't cope with the numbers who still want to deal with humans and not machines.

This thread is typical for PH these days, disappointing. Excesses of the usual uncaring assumptions that whatever solution happens to work for the poster in question is automatically the correct solution for every individual and business throughout the land, all with a fair bit of sneering against the old included. Surprisingly no sneers against the poor but that's waiting in the wings no doubt.

Yet it's clear that poorer rural areas are the ones suffering most. Rural, now there's a word. Most people dismiss it as fields full of sheep, but in reality includes many small areas with thriving businesses who deal partly or mainly in cash. On top of that, the community itself. University of Nottingham researchers noted that between 1995/2012 the areas that suffered the largest decline in branch numbers ‘are characterised by unemployment rates and levels of renting from the public sector that are far above the national average… the least affluent third of the population has borne the brunt of two thirds of net closures’.

The banks are heavily reliant on their pushing technical solutions as alternative to branch availability, yet we have seen many technical problems. Edited to add that access to decent internet can be also difficult in the same out of town areas. Couple it all with failures in communication. Anecdotally when I moved to another part of the country my bank were adamant that I didn't need to move the account as they could do anything just the same. Over time the branches closed one by one, now I would have an hour minimum drive to get to a branch. Except when I needed to speak to my bank to sort out an issue could only speak to a central customer service centre who couldn't sort it. The conversation had to be held with the particular branch management who were not answering the phone, impasse, hours of a very awkward situation whilst at the other end of the country. Another example where the technology didn't work.

We are shortly down to two branches in a town of 30,000, with significant tourism and many cash businesses. But apparently it's just old people checking their money is still there. Some PH posters really do seem to be the sort of oils you would cross the street to avoid.

My suggestion is financial centres where the expenses and access are shared. Pity the Post Offices are going as that would have been a basis for such a network development.

Old story, too many know cost of everything, value of nothing, stuff not missed till it's gone.

Edited by FiF on Friday 18th May 06:37

[Robertj21a]

FiF said:

This thread is typical for PH these days, disappointing. Excesses of the usual uncaring assumptions that whatever solution happens to work for the poster in question is automatically the correct solution for every individual and business throughout the land, all with a fair bit of sneering against the old included. Surprisingly no sneers against the poor but that's waiting in the wings no doubt.

Yet it's clear that poorer rural areas are the ones suffering most. Rural, now there's a word. Most people dismiss it as fields full of sheep, but in reality includes many small areas with thriving businesses who deal partly or mainly in cash. On top of that, the community itself. University of Nottingham researchers noted that between 1995/2012 the areas that suffered the largest decline in branch numbers ‘are characterised by unemployment rates and levels of renting from the public sector that are far above the national average… the least affluent third of the population has borne the brunt of two thirds of net closures’.

The banks are heavily reliant on their pushing technical solutions as alternative to branch availability, yet we have seen many technical problems. Edited to add that access to decent internet can be also difficult in the same out of town areas. Couple it all with failures in communication. Anecdotally when I moved to another part of the country my bank were adamant that I didn't need to move the account as they could do anything just the same. Over time the branches closed one by one, now I would have an hour minimum drive to get to a branch. Except when I needed to speak to my bank to sort out an issue could only speak to a central customer service centre who couldn't sort it. The conversation had to be held with the particular branch management who were not answering the phone, impasse, hours of a very awkward situation whilst at the other end of the country. Another example where the technology didn't work.

We are shortly down to two branches in a town of 30,000, with significant tourism and many cash businesses. But apparently it's just old people checking their money is still there. Some PH posters really do seem to be the sort of oils you would cross the street to avoid.

My suggestion is financial centres where the expenses and access are shared. Pity the Post Offices are going as that would have been a basis for such a network development.

Old story, too many know cost of everything, value of nothing, stuff not missed till it's gone.

Edited by FiF on Friday 18th May 06:37

The Post Offices are, essentially, the financial centre for most small communities, not just in rural areas. Indeed, that has been encouraged for very many years now. If an area can't support a Post Office then it certainly won't be able to support a bank.
The vast majority of routine banking transactions can be carried out on-line or via an ATM or the Post Office.

[Eric Mc]

Pulse said:

You could bank with Nationwide, instead. They're keeping branches open, and in fact it's an active part of their strategy, so don't see them changing approach too soon.

We were with Nationwide (they took over Portman when we had an account with Portman). However, Nationwide told us they didn't want charity accounts - so we had to move.

[sidicks]

FiF said:

This thread is typical for PH these days, disappointing. Excesses of the usual uncaring assumptions that whatever solution happens to work for the poster in question is automatically the correct solution for every individual and business throughout the land, all with a fair bit of sneering against the old included. Surprisingly no sneers against the poor but that's waiting in the wings no doubt.

Yet it's clear that poorer rural areas are the ones suffering most. Rural, now there's a word. Most people dismiss it as fields full of sheep, but in reality includes many small areas with thriving businesses who deal partly or mainly in cash. On top of that, the community itself. University of Nottingham researchers noted that between 1995/2012 the areas that suffered the largest decline in branch numbers ‘are characterised by unemployment rates and levels of renting from the public sector that are far above the national average… the least affluent third of the population has borne the brunt of two thirds of net closures’.

The banks are heavily reliant on their pushing technical solutions as alternative to branch availability, yet we have seen many technical problems. Edited to add that access to decent internet can be also difficult in the same out of town areas. Couple it all with failures in communication. Anecdotally when I moved to another part of the country my bank were adamant that I didn't need to move the account as they could do anything just the same. Over time the branches closed one by one, now I would have an hour minimum drive to get to a branch. Except when I needed to speak to my bank to sort out an issue could only speak to a central customer service centre who couldn't sort it. The conversation had to be held with the particular branch management who were not answering the phone, impasse, hours of a very awkward situation whilst at the other end of the country. Another example where the technology didn't work.

We are shortly down to two branches in a town of 30,000, with significant tourism and many cash businesses. But apparently it's just old people checking their money is still there. Some PH posters really do seem to be the sort of oils you would cross the street to avoid.

My suggestion is financial centres where the expenses and access are shared. Pity the Post Offices are going as that would have been a basis for such a network development.

Old story, too many know cost of everything, value of nothing, stuff not missed till it's gone.

Equally you could argue that many people want someone else to pick up the cost of something they value.

Often those are same people that have been most vociferous about the need to separate retail banks from ‘casino’ banks and to massively increase bank regulation, seemingly oblivious to the inevitable results of those requests.

[condor]

A lot of the new accounts want a minimum amount per month paid in, which is more difficult when you're self-employed and don't have a regular salary going in each month. I'm well aware that you can set up a standing order from another bank account to pay the minimum amount in and then reverse the transaction a few days later. It would be a lot easier if you didn't have to mess about with doing that in the first place.

[Robertj21a]

It might be relevant to highlight that we in the UK are in a very fortunate position when it comes to running a personal bank account. For many people they incur no charges whatsoever despite the volume of 'silly' transactions going in/out at frequent intervals. Our Bank/Building Society ATMs are usually free (despite significant costs for each bank) and in many cases there are no charges for paper statements, on-line banking facilities etc.

Now try to get all that for free in other countries........

[bad company]

NDA said:

Do people use physical banks any more?

I guess if you have to bank cheques and cash you might do - but even so, electronic payments reduce the need.

Sometimes you do need a physical branch. Today I have to take in my late mum’s will, death certificate and my id to close her account. I really wouldn’t want to be posting that stuff anywhere.

It doesn’t happen often but once or twice a year I find the need to visit a branch for something or other.

[p1doc]

I live in rural Scotland with my NatWest bank being in Aberdeen, I reckon it will go the way of mobile van banking which I experienced years ago in skye-was a pretty good service when I used it

[V8mate]

p1doc said:

I live in rural Scotland with my NatWest bank being in Aberdeen, I reckon it will go the way of mobile van banking which I experienced years ago in skye-was a pretty good service when I used it

The sooner we become a cashless society, the better. Do away with all this nonsense.

[Eric Mc]

V8mate said:

p1doc said:

I live in rural Scotland with my NatWest bank being in Aberdeen, I reckon it will go the way of mobile van banking which I experienced years ago in skye-was a pretty good service when I used it

The sooner we become a cashless society, the better. Do away with all this nonsense.

And the sooner 3rd parties - especially government - will be able to track every transaction you engage in. And use that information for a myriad other purposes.

[V8mate]

Eric Mc said:

V8mate said:

p1doc said:

I live in rural Scotland with my NatWest bank being in Aberdeen, I reckon it will go the way of mobile van banking which I experienced years ago in skye-was a pretty good service when I used it

The sooner we become a cashless society, the better. Do away with all this nonsense.

And the sooner 3rd parties - especially government - will be able to track every transaction you engage in. And use that information for a myriad other purposes.

>shrugs<

My finances are already entirely visible to the state. So unless you're expecting me to feel sorry for tax-avoiding, cash-in-hand do-as-you likeys, I'm not sure what's going change.

[Stella Tortoise]

Eric Mc said:

And the sooner 3rd parties - especially government - will be able to track every transaction you engage in. And use that information for a myriad other purposes.

Such as?

[bad company]

Stella Tortoise said:

Eric Mc said:

And the sooner 3rd parties - especially government - will be able to track every transaction you engage in. And use that information for a myriad other purposes.

Such as?

When you buy your drugs or visit the brothel etc.

[Pulse]

Funnily enough, this is a big thing in Germany, and I assume many other places.

My (German) cousins will only use cash, and in fact, the majority of places don’t even accept card! One of my cousins said she doesn’t want people tracking her purchases. She had never heard of contactless (genuinely), and it appeared to be a new thing in the town she lives in.

Personally, I’m all for a cashless society (or close to, anyway). I never get my wallet out now and pay for everything using Apple Pay.

[p1doc]

V8mate said:

The sooner we become a cashless society, the better. Do away with all this nonsense.

as rural poor internet service so somedays cannot log into online banking for example can take 24hrs to download movie off sky!! so another option always nice

[Eric Mc]

I believe in choice. I don't like being dictated to by large profit motivated corporations or the state.

If some of you are happy living in such a world, you are welcome to it.

And please don't trot out the "nothing to fear, nothing to hide" line. That is the utterance of a naive fool.