Australian Politics Forum - Stop Closing Down Our Bank Branches

MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #45 - Mar 21^st, 2024 at 9:21pm

Jasin wrote on 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.

There will always be the ancient money - gold.

But its use will be limited to how far it can be moved without detection - ideally only governments will be able to freely move it globally.

The issue governments have now is mopping up the excess cash currently in circulation - Demonetising the $100 note will help with this.

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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #46 - Mar 21^st, 2024 at 9:25pm

Bobby. wrote on 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.

The same thing is happening in the US as is happening here.

Already banks do not allow the storage of US dollars in safe deposit boxes which, themselves, are being phased out.

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Jasin

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Re: Stop Closing Down Our Bank Branches
Reply #47 - Mar 21^st, 2024 at 9:38pm

They've done 'thousands' of surveys between those given cash and those who have the click of a button transaction.
Those who have cash, spend less by 79%.
Those who just click (because they feel they don't have anything substantial in their hand to hand-over like 'trade') or Tap n' Go - spend way more.

This is why they want to get rid of Cash. People will spend more without it and end up 'Cashless' in more ways than one.

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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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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #48 - Mar 21^st, 2024 at 9:56pm

Jasin wrote on Mar 21^st, 2024 at 9:38pm:

They've done 'thousands' of surveys between those given cash and those who have the click of a button transaction.
Those who have cash, spend less by 79%.
Those who just click (because they feel they don't have anything substantial in their hand to hand-over like 'trade') or Tap n' Go - spend way more.

This is why they want to get rid of Cash. People will spend more without it and end up 'Cashless' in more ways than one.

The reason cashless transactions are preferred is not least because it is the first time in history that transactions can be completed without the problem of a physical item needed to effect the transaction.

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Gnads

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Re: Stop Closing Down Our Bank Branches
Reply #49 - Mar 22^nd, 2024 at 6:55am

greggerypeccary wrote on 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.

You can go into any of those stores & there is a limit on how much cash they will give you....

I've been into Woolies & Dan Murphys & wanted cash with my purchases & they said they couldn't do it, they didn't have enough.

It was only 4 hundred.

They've gone from asking you if you'd like any cash out today to never mentioning it.

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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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John Smith

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Re: Stop Closing Down Our Bank Branches
Reply #50 - Mar 22^nd, 2024 at 7:04am

Frank wrote on 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.

What are you?, Completely moronic? Internet has been around for decades now. Last year the big four had profits in the billions. It must have been a fluke that they managed profits in the billions with both the internet and shop fronts. Lucky they have you to let them know what they've been doing wrong all these years. Cheesy

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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John Smith

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Re: Stop Closing Down Our Bank Branches
Reply #51 - Mar 22^nd, 2024 at 7:05am

greggerypeccary wrote on 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.

Woolies limits withdrawals to $100 now. Post offices are also limited.

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Jasin

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Re: Stop Closing Down Our Bank Branches
Reply #52 - Mar 22^nd, 2024 at 7:19am

MeisterEckhart wrote on Mar 21^st, 2024 at 9:56pm:

Jasin wrote on Mar 21^st, 2024 at 9:38pm:

They've done 'thousands' of surveys between those given cash and those who have the click of a button transaction.
Those who have cash, spend less by 79%.
Those who just click (because they feel they don't have anything substantial in their hand to hand-over like 'trade') or Tap n' Go - spend way more.

This is why they want to get rid of Cash. People will spend more without it and end up 'Cashless' in more ways than one.

The reason cashless transactions are preferred is not least because it is the first time in history that transactions can be completed without the problem of a physical item needed to effect the transaction.

I'm not saying its wrong. Just saying there is more than just 'one' right answer to it. I think this country can 'afford' both systems and will be better for it.

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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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Jasin

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Re: Stop Closing Down Our Bank Branches
Reply #53 - Mar 22^nd, 2024 at 7:21am

Gnads wrote on Mar 22^nd, 2024 at 6:55am:

greggerypeccary wrote on 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.

You can go into any of those stores & there is a limit on how much cash they will give you....

I've been into Woolies & Dan Murphys & wanted cash with my purchases & they said they couldn't do it, they didn't have enough.

It was only 4 hundred.

They've gone from asking you if you'd like any cash out today to never mentioning it.

Yeah, I've noticed that and they'll even say they don't have enough to give out, but the Auto-Machine is just around the corner.

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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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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #54 - Mar 22^nd, 2024 at 7:31am

Gnads wrote on Mar 22^nd, 2024 at 6:55am:

greggerypeccary wrote on 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.

You can go into any of those stores & there is a limit on how much cash they will give you....

I've been into Woolies & Dan Murphys & wanted cash with my purchases & they said they couldn't do it, they didn't have enough.

It was only 4 hundred.

They've gone from asking you if you'd like any cash out today to never mentioning it.

The irony is that they may tell you, 'We're not a bank'!

The days of cash are literally numbered.

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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #55 - Mar 22^nd, 2024 at 7:34am

Jasin wrote on Mar 22^nd, 2024 at 7:19am:

MeisterEckhart wrote on Mar 21^st, 2024 at 9:56pm:

Jasin wrote on Mar 21^st, 2024 at 9:38pm:

They've done 'thousands' of surveys between those given cash and those who have the click of a button transaction.
Those who have cash, spend less by 79%.
Those who just click (because they feel they don't have anything substantial in their hand to hand-over like 'trade') or Tap n' Go - spend way more.

This is why they want to get rid of Cash. People will spend more without it and end up 'Cashless' in more ways than one.

The reason cashless transactions are preferred is not least because it is the first time in history that transactions can be completed without the problem of a physical item needed to effect the transaction.

I'm not saying its wrong. Just saying there is more than just 'one' right answer to it. I think this country can 'afford' both systems and will be better for it.

The black market will be crippled with cash gone.

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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #56 - Mar 22^nd, 2024 at 7:36am

John Smith wrote on Mar 22^nd, 2024 at 7:05am:

greggerypeccary wrote on 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.

Woolies limits withdrawals to $100 now. Post offices are also limited.

And banks are focused on extricating cash from the economy by severely restricting its issuing.

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Frank

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Re: Stop Closing Down Our Bank Branches
Reply #57 - Mar 22^nd, 2024 at 8:54am

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.

Ring the bank.
The cards themselves are electronic and internet linked, you know. Even your passbook, if you still have one, is at the bank's end.

You can get cash out when you shop in any supermarket and pay with a card + cash out.
You can pay all your bills, tradies, etc with online banking. The only reason to go to a bank branch is if you like queuing.

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Estragon: I can’t go on like this.
Vladimir: That’s what you think.

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Jasin Gold Member Offline Posts: 57079 Gender:	Re: Stop Closing Down Our Bank Branches Reply #58 - Mar 22^nd, 2024 at 11:14am Yep. Sack all the thousands of Bank employees! Humans are no longer needed. You must 'talk to the machine'. ...until the Butlerian Jihad!
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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #59 - Mar 22^nd, 2024 at 11:52am

In 2015, when Modi decided he was done with Indian foot-dragging on switching to digital transactions, among other things, he embarked on a demonetisation program that saw the high-end Indian 500 and 1000 Rupee notes demonetised at the end of 2016.

It sent the Indian economy into chaos for months as those high-end notes were the denominations of choice to stash for ordinary Indians (particularly housewives).

And, although the Indian government did issue a 2000 Rupee note immediately after, it didn't last long as the note took up being the note of choice for stashing and black marketeering where the old ones left off. It was withdrawn from circulation in May 2023.

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