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How Do Big Banks Allocate Deposits In The Internet Era To Branches?

Sunday, March 25, 2012 - 9:23 PMWells Fargo Bank - Details
This is a general questions about how the banking system works.  Back in the day before internet banking it was clear that your account was tied to a specific branch and that branch usually appeared on your printed checks.

On the FDIC website there is a database called Summary of deposits which lists how much deposits each individual branch has.  With a big bank like Wells Fargo for example, how do they determine this?  What if an account is opened online?  What if you move states?  I opened an account at a local branch but when my checks came, they did not make any reference to a specific branch.  Where are my funds allocated?

Does my question make sense?  Any speficic reference to a source that explains this?  TIA
ck8ck81 posts since
Mar 25, 2012
Rep Points: 3
1. Sunday, March 25, 2012 - 9:50 PM
That's a good point. With online applications so prevalent, tracking deposits by branch would seem to provide little value.

It may provide a little value in that it shows how much deposits a branch takes in. So if the customer moves, that doesn't change how much deposits were acquired through that branch.

It might be useful for the FDIC when they're looking for buyers of a bank that's about to fail. It could give the potential buyer an idea at the usefulness of those branches.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,611