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Well, nowadays you won't get as many fake bills, and you don't have to pay the banks as much for armed guards that drive cash from place to place in an armed tr

by Arnt 6y ago

Well, nowadays you won't get as many fake bills, and you don't have to pay the banks as much for armed guards that drive cash from place to place in an armed truck.

cycomanic 6y ago
Not sure how much you paid for banking, but where I was it was always free or very low charges, nowhere close to even 2% of all your payments (which is a minimum estimate for credit card charges).
- Arnt 6y ago
  Banks make a profit where I live, and the armoured trucks aren't free, and the armed guards are paid, and the cash lost through robbieries is replaced. One way or another the banks' customers pay for all that.
bbarnett 6y ago
We'd just walk across the street and drop cash into the bank deposit slot. What armed guards? Obviously things can change for large businesses. Even employee theft is less of a concern, when (like the restaurants highlighted here), it's mostly a mom and pop type concern...
- sokoloff 6y ago
  I would worry about the safety of the employee doing the bank run. You close your pizza joint at midnight and what do you do with day’s cash? Leave it in the restaurant overnight and deposit it in daylight the next day, or send an employee to the bank drop box at 12:30 in the morning? Even 33 years ago, I got more training and policy drilling on how to do the bank drop than I did on sales to work my Electronics Boutique mall job.
  - bbarnett 6y ago
    I guess it depends upon the crime rate in the local area. Realistically, at the time, I'd be carrying between $500 to $1000 in my pocket, cash, from delivery payments. And usually -- from 11am to 2am, it was very slow. Generally one person in the pizza place, in a strip mall, with every other business closed. It would be just as easy to walk in, and demand the cash then.
    - Arnt 6y ago
      Yes, the crime rate. The bank has trained people to check the cash being paid in, has a vault in each branch office, and trucks+staff for transporting cash between branches, and insurance premiums on losses during storage and transport. The insurance agency's premiums will depend on the typical losses and on how much money the bank spends on checking and guarding the money, and all of those will tend to vary with the crime rate. If there are more forgeries around, the banks need to either spend more on detecting them, spend more on insurance against losses relating to forged money, or encourage customers to use electronic transfers.

by Arnt 6y ago

Well, nowadays you won't get as many fake bills, and you don't have to pay the banks as much for armed guards that drive cash from place to place in an armed truck.

cycomanic 6y ago

Not sure how much you paid for banking, but where I was it was always free or very low charges, nowhere close to even 2% of all your payments (which is a minimum estimate for credit card charges).

Arnt 6y ago
Banks make a profit where I live, and the armoured trucks aren't free, and the armed guards are paid, and the cash lost through robbieries is replaced. One way or another the banks' customers pay for all that.

bbarnett 6y ago

We'd just walk across the street and drop cash into the bank deposit slot. What armed guards? Obviously things can change for large businesses. Even employee theft is less of a concern, when (like the restaurants highlighted here), it's mostly a mom and pop type concern...

sokoloff 6y ago
I would worry about the safety of the employee doing the bank run. You close your pizza joint at midnight and what do you do with day’s cash? Leave it in the restaurant overnight and deposit it in daylight the next day, or send an employee to the bank drop box at 12:30 in the morning? Even 33 years ago, I got more training and policy drilling on how to do the bank drop than I did on sales to work my Electronics Boutique mall job.
- bbarnett 6y ago
  I guess it depends upon the crime rate in the local area. Realistically, at the time, I'd be carrying between $500 to $1000 in my pocket, cash, from delivery payments. And usually -- from 11am to 2am, it was very slow. Generally one person in the pizza place, in a strip mall, with every other business closed. It would be just as easy to walk in, and demand the cash then.
  - Arnt 6y ago
    Yes, the crime rate. The bank has trained people to check the cash being paid in, has a vault in each branch office, and trucks+staff for transporting cash between branches, and insurance premiums on losses during storage and transport. The insurance agency's premiums will depend on the typical losses and on how much money the bank spends on checking and guarding the money, and all of those will tend to vary with the crime rate. If there are more forgeries around, the banks need to either spend more on detecting them, spend more on insurance against losses relating to forged money, or encourage customers to use electronic transfers.