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For Bank Customers, Waiting Is The Hardest Part

Thursday, April 24, 2014 - 9:17 AM
Bank customers face high fees, low savings rates and fewer bank branches — but cooling their heels is what really drives them crazy.

For Bank Customers, Waiting Is the Hardest Part | Save | Get the best rates on mortgage, home equity loans, CD, money markets and checking accounts | BankingMyWay
ShorebreakShorebreak2,677 posts since
Apr 6, 2010
Rep Points: 14,533
1. Thursday, April 24, 2014 - 9:33 AM
We are down to just one or two tellers at my local bank and there is never any waiting.  This morning when I got there, there was only one teller.  There are so few customers whenever I go that they just let the manager do the teller window if they have "two" customers waiting in line.  It is really weird not to see but one or two customers in the bank and the teller windows void of tellers.  I guess most customers are either at the ATMs or doing what they need on line.
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
2. Thursday, April 24, 2014 - 10:09 AM
Branch traffic is down. Why? Fewer people are coming in to conduct transactions. But is that such a bad thing? Transactions cost money —transactions that require infrastructure, technology and plumbing… all very expensive.

Why Branches Aren't Dead Yet: The Complex Calculus of Networks

The subject article originally posted may also apply to waiting on the phone for someone to assist the customer...

“This new data confirms the ‘satisfaction gap‘ — customers just want someone smart enough to help them and fast enough to be useful.”
ShorebreakShorebreak2,677 posts since
Apr 6, 2010
Rep Points: 14,533
3. Thursday, April 24, 2014 - 1:09 PM
I rarely go into the bank anymore.  Deposits are made at the ATM in the grocery store, and everything else is done online.

I used to go to the credit union when they had a coin machine.  You could dump all your coins and it would go directly into your account.  As of January, they charge 3% for that, so no more.

Having local tellers is the most expensive part of the business, so less banks/tellers is ok with me.
carlycarly26 posts since
Sep 2, 2011
Rep Points: 88