Australian Politics Forum - Stop Closing Down Our Bank Branches

Bobby.

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Re: Stop Closing Down Our Bank Branches
Reply #30 - Mar 21^st, 2024 at 7:58pm

MeisterEckhart wrote on Mar 21^st, 2024 at 7:54pm:

Bobby. wrote on Mar 21^st, 2024 at 7:47pm:

Frank wrote on Mar 21^st, 2024 at 7:22pm:

What business is not about profit?

Yours?

Have you ever heard of an essential service?
it's the same with:
electricity, gas, telecommunications: phones, internet etc,
hospitals, schools, roads, police.

Providing essential services is supposed to come before profits.
It was wrong that we privatized essential services.

How are banks' suburban branches essential services?

Can you go a month without one?

What if there's a problem with your bank account -
your card doesn't work and therefore you have no money.
I would say that money is essential.

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Jasin

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Re: Stop Closing Down Our Bank Branches
Reply #31 - Mar 21^st, 2024 at 8:01pm

Like I said.
The real reason Branches get shut is because of Online Banking which the main central Bank processes and gets all the fees from Online Transactions.
Thus, the outer Branches like in 'Community Town', hardly get any activity much in person, nor do they get to cash in on such exchanges.

Online Banking closes the lesser Branches as 'useless'.

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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.

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Frank

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Re: Stop Closing Down Our Bank Branches
Reply #32 - Mar 21^st, 2024 at 8:04pm

John Smith wrote on Mar 21^st, 2024 at 7:32pm:

Frank wrote on Mar 21^st, 2024 at 7:30pm:

John Smith wrote on Mar 21^st, 2024 at 7:26pm:

Frank wrote on Mar 21^st, 2024 at 7:22pm:

John Smith wrote on Mar 21^st, 2024 at 7:03pm:

Frank wrote on Mar 21^st, 2024 at 4:35pm:

John Smith wrote on Mar 21^st, 2024 at 4:26pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 3:44pm:

John Smith wrote on Mar 21^st, 2024 at 3:41pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 12:26pm:

John Smith wrote on Mar 21^st, 2024 at 12:19pm:

The banks will continue to close branches irrespective of how much people complain, or how many petitions they sign. There's far to much money to be made in closing them down and forcing you to go digital.

Commonwealth Bank has already announced that it's closing all it's 'BankWest' branches and moving to digital only.

The only hope the public has is to give Australia Post a full banking license. Then maybe the public will be listened too.

It might also help stop the collusion between banks when they all raise interest rates irrespective of what the reserve bank does.

Yep. Ultimately all suburban branches of all banks will be closed.

But customers are also to 'blame'. As Australians abandon cash and the need for face-to-face interaction with banks, what business could justify keeping an entire branch running with only a few customers per day?

A few customers a day? The comm bank in my town shuts at 1. From 9 till 1 the queue is almost always out the door. The nab used to be open until 5, with queues often out the door and still they closed the branch down. Banks don't care how many customers. Look at ANZ, even if you can find a branch it's often cashless. It's certainly not because their customers want it that way.

I guess geriatrics are not the banks' target demographic.

So it's not about the number of patrons that access the branches afterall. Thanks for playing.

What, then?

Profit

What business is not about profit?

Yours?

Who said it can't make a profit?

Business is about profit. Banks are businesses.

What's the point of bellyaching for business/profit decisions about closing unprofitable bank branches?

Gee Frank, how did banks manage to make a profit for all those years when bricks and mortor shop fronts were the norm. Cheesy

That was before the internet.

Have you heard about it? It's amazing. They even have online chat forums - people talk to each of other without EVER meeting or going into a shop!
Unbelivable.

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Frances Gold Member Offline Australian Politics Posts: 3577 In a Castle in the Hills Gender:	Re: Stop Closing Down Our Bank Branches Reply #33 - Mar 21^st, 2024 at 8:05pm MeisterEckhart wrote on Mar 21^st, 2024 at 7:54pm: How are banks' suburban branches essential services? Can you go a month without one? Not everyone uses online banking. And if there's no bank branch, how do you get cash?
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MeisterEckhart Gold Member Offline Australian Politics Posts: 17122 Gender:	Re: Stop Closing Down Our Bank Branches Reply #34 - Mar 21^st, 2024 at 8:10pm Frances wrote on Mar 21^st, 2024 at 8:05pm: MeisterEckhart wrote on Mar 21^st, 2024 at 7:54pm: How are banks' suburban branches essential services? Can you go a month without one? Not everyone uses online banking. And if there's no bank branch, how do you get cash? You don't. Cash is being phased out.
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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #35 - Mar 21^st, 2024 at 8:11pm

Bobby. wrote on Mar 21^st, 2024 at 7:58pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 7:54pm:

Bobby. wrote on Mar 21^st, 2024 at 7:47pm:

Frank wrote on Mar 21^st, 2024 at 7:22pm:

What business is not about profit?

Yours?

Have you ever heard of an essential service?
it's the same with:
electricity, gas, telecommunications: phones, internet etc,
hospitals, schools, roads, police.

Providing essential services is supposed to come before profits.
It was wrong that we privatized essential services.

How are banks' suburban branches essential services?

Can you go a month without one?

What if there's a problem with your bank account -
your card doesn't work and therefore you have no money.
I would say that money is essential.

Digital wallets are available on your smartphone.

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Frances Gold Member Offline Australian Politics Posts: 3577 In a Castle in the Hills Gender:	Re: Stop Closing Down Our Bank Branches Reply #36 - Mar 21^st, 2024 at 8:40pm MeisterEckhart wrote on Mar 21^st, 2024 at 8:10pm: Cash is being phased out. I'll keep using it until it is.
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greggerypeccary

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Re: Stop Closing Down Our Bank Branches
Reply #37 - Mar 21^st, 2024 at 8:43pm

Frances wrote on Mar 21^st, 2024 at 8:05pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 7:54pm:

How are banks' suburban branches essential services?

Can you go a month without one?

Not everyone uses online banking. And if there's no bank branch, how do you get cash?

At the post office, or any retailer who has an eftpos machine.

e.g. Coles, Woolworths, Kmart, BigW, Target, etc.

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Frances Gold Member Offline Australian Politics Posts: 3577 In a Castle in the Hills Gender:	Re: Stop Closing Down Our Bank Branches Reply #38 - Mar 21^st, 2024 at 8:47pm Don't you get charged all sorts of fees if you get cash using a credit card though?
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Jasin Gold Member Offline Posts: 57034 Gender:	Re: Stop Closing Down Our Bank Branches Reply #39 - Mar 21^st, 2024 at 8:51pm cheaper to get mugged in an alleyway of $50 than being hacked $50,000 from your entire account. ...oh, then there are those major power blackouts and breakdowns and businesses can't 'process' online. They'll never be able to get rid of Cash.
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MeisterEckhart Gold Member Offline Australian Politics Posts: 17122 Gender:	Re: Stop Closing Down Our Bank Branches Reply #40 - Mar 21^st, 2024 at 8:57pm Jasin wrote on Mar 21^st, 2024 at 8:51pm: They'll never be able to get rid of Cash. That's what people said about the horse for commuting and the transport of goods in 1905.
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MeisterEckhart Gold Member Offline Australian Politics Posts: 17122 Gender:	Re: Stop Closing Down Our Bank Branches Reply #41 - Mar 21^st, 2024 at 8:59pm Frances wrote on Mar 21^st, 2024 at 8:40pm: MeisterEckhart wrote on Mar 21^st, 2024 at 8:10pm: Cash is being phased out. I'll keep using it until it is. You'll know it's time up when banks are all cashless and the $100 note is demonetised.
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Frances Gold Member Offline Australian Politics Posts: 3577 In a Castle in the Hills Gender:	Re: Stop Closing Down Our Bank Branches Reply #42 - Mar 21^st, 2024 at 9:04pm If that day ever comes in my lifetime.
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Jasin

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Re: Stop Closing Down Our Bank Branches
Reply #43 - Mar 21^st, 2024 at 9:06pm

MeisterEckhart wrote on Mar 21^st, 2024 at 8:57pm:

Jasin wrote on Mar 21^st, 2024 at 8:51pm:

They'll never be able to get rid of Cash.
Wink

That's what people said about the horse for commuting and the transport of goods in 1905.

The first Market is the Black Market. They still haven't been able to get rid of that either. Even the CIA would be lost without it.
Black is the colour of Maths (Money).
They'll never be able to get rid of a 'physical' aspect of Money.
Just because its 'new' (in technology) - doesn't mean that its better.

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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.

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Bobby.

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Re: Stop Closing Down Our Bank Branches
Reply #44 - Mar 21^st, 2024 at 9:21pm

Jasin wrote on Mar 21^st, 2024 at 8:51pm:

cheaper to get mugged in an alleyway of $50
than being hacked $50,000 from your entire account.

...oh, then there are those major power blackouts and breakdowns and businesses can't 'process' online. Grin

They'll never be able to get rid of Cash.
Wink

People would use US dollars just like in Cuba.

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