With larger banks like Capital One trying out the idea of informal banking through a café experience, are traditional banks in danger?
I'm from a small town,and all the banks within driving distance to me are what you might think of as 'traditional' banks, business formal dressed tellers, traditional office space where a person would go to talk to a loan officer who is wearing a business or power suit,and you'd probably do well to dress up yourself before going in for a loan. With the newer approach towards informality being brought to bear by the larger banks, will the smaller town banks follow suit?
- 8 months ago
Banks have been trying informal approaches for decades. They do not work. In a survey done by Chase, it was discovered that most customers do not like the informality, and are reluctant to put there money there
- Anonymous8 months ago
No, its a nothing. ING Direct started it and sold out to capital one, which screws up everything they touch. It was never a great idea to begin with.
But, going forward, online banks & credit unions will continue to pressure local banks. I think there will be branch closures over the next 5-10+ years because of it as more & more people realize they do not need a local brick & mortar bank.
The cafe's are only in heavily populated areas and its more advertising than actual banking.
- StephenWeinsteinLv 78 months ago
I doubt it. Washington Mutual tried something like this years ago. Eventually, the FDIC had to step in. They were taken over by Chase, a much more traditional bank.
- 8 months ago
All I want is a drive thru atm. Made the mistake of going inside a Chase bank to pay my property taxes and they corral the customers into a cubicle and try to sell you a mortgage or a money market fund.