5 ms·

Perfectly valid arguments for installing a modern, 4-cassete Diebold atm with a cash recycler and, optionally, a coin hopper. Such a device costs about $40K and

by Aspos 4y ago

Perfectly valid arguments for installing a modern, 4-cassete Diebold atm with a cash recycler and, optionally, a coin hopper. Such a device costs about $40K and is much cheaper to operate than a branch. Branches exist because all other channels suck. Why would you go stand in a queue if you could request $100 banknotes from an ATM? Who would need to discuss mortgage in person if there was a sane, simple, transparent web page for it? Who would need to go to a branch to complain and get a problem resolved if they could do so from their phone? Every visit to a branch is a negative KPI in modern banks in modern countries since early 00'es.

noisy_boy 4y ago
> Who would need to go to a branch to complain and get a problem resolved if they could do so from their phone? Sometimes the problem happens at the level of phone and it is much easier to have it sorted in person instead of being stuck on helpline. I had some issues with my local bank's app and they knew what to do at the branch.
- Aspos 4y ago
  If not using the app and physically going somewhere is easier than using the app then the app clearly has some room for improvement.
  - noisy_boy 4y ago
    In this case, the problem was with installation of the app itself - once sorted, it worked well.
marcosdumay 4y ago
I consider me needing to go into a physical branch if I want to transfer tens of thousands or more a feature, not an issue.
- Aspos 4y ago
  May be an indication that web and mobile channels of your bank are not very good. You perceive it is safer (or easier) to go to a branch and get a funds transfer performed by a random semi-literate clerk, than using an app. Banking apps are often confusing, dumb (can't predict/detect/anticipate) and struggle to authenticate a user securely, have low transaction limits, so clients resort to going into a branch, getting authenticated via a piece of colourful plastic by a random clerk and requiring a manual labor to perform pretty simple operations such as funds transfer.
  - marcosdumay 4y ago
    Well, now that you mentioned the subject, I think my bank has the only sane multi-factor authentication implementation I have seen on the wild. Including all the usual giant informatics specialized multinationals. And they have been doing it since something around 2005. The threat surface of a physical office is just absurdly smaller than an internet service. And the recovery options completely outmatch anything virtual.
    - meowtimemania 4y ago
      What bank do you use? I use capital one and have had good experiences so far
      - marcosdumay 4y ago
        Banco do Brasil. I'm not from the US.
      - deleted 4y ago
        [deleted]
Cupertino95014 4y ago
Obviously the people who run banks don't see it your way. You notice that in those TV commercials about "banking reimagined" the guy is still standing in a building of some sort.
- hocuspocus 4y ago
  Who run banks in the US maybe. The rest of the world has largely moved on.
astrange 4y ago
When I used Wells Fargo, they wanted me to go into the bank building to get quarters for laundry so they could run that fake account opening scam on me. Similarly when I tried depositing coins; they had a teller hand count them to take longer so the manager could try and sell me things. I think this might support the article's point.

by Aspos 4y ago

noisy_boy 4y ago

> Who would need to go to a branch to complain and get a problem resolved if they could do so from their phone? Sometimes the problem happens at the level of phone and it is much easier to have it sorted in person instead of being stuck on helpline. I had some issues with my local bank's app and they knew what to do at the branch.

Aspos 4y ago
If not using the app and physically going somewhere is easier than using the app then the app clearly has some room for improvement.
- noisy_boy 4y ago
  In this case, the problem was with installation of the app itself - once sorted, it worked well.

marcosdumay 4y ago

I consider me needing to go into a physical branch if I want to transfer tens of thousands or more a feature, not an issue.

Aspos 4y ago
May be an indication that web and mobile channels of your bank are not very good. You perceive it is safer (or easier) to go to a branch and get a funds transfer performed by a random semi-literate clerk, than using an app. Banking apps are often confusing, dumb (can't predict/detect/anticipate) and struggle to authenticate a user securely, have low transaction limits, so clients resort to going into a branch, getting authenticated via a piece of colourful plastic by a random clerk and requiring a manual labor to perform pretty simple operations such as funds transfer.
- marcosdumay 4y ago
  Well, now that you mentioned the subject, I think my bank has the only sane multi-factor authentication implementation I have seen on the wild. Including all the usual giant informatics specialized multinationals. And they have been doing it since something around 2005. The threat surface of a physical office is just absurdly smaller than an internet service. And the recovery options completely outmatch anything virtual.
  - meowtimemania 4y ago
    What bank do you use? I use capital one and have had good experiences so far
    - marcosdumay 4y ago
      Banco do Brasil. I'm not from the US.
    - deleted 4y ago
      [deleted]

Cupertino95014 4y ago

Obviously the people who run banks don't see it your way. You notice that in those TV commercials about "banking reimagined" the guy is still standing in a building of some sort.

hocuspocus 4y ago
Who run banks in the US maybe. The rest of the world has largely moved on.

astrange 4y ago

When I used Wells Fargo, they wanted me to go into the bank building to get quarters for laundry so they could run that fake account opening scam on me. Similarly when I tried depositing coins; they had a teller hand count them to take longer so the manager could try and sell me things. I think this might support the article's point.