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Email this11:29 am
December 17, 2016
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From Rob Carrick in the G&M -
An increasingly cashless world is forcing banks to improve the penalty box ambiance of their branches
The declining use of cash in our society could be the best thing to happen to branch banking.
The old-style bank branch sent a subtle message to customers: You need us more than we need you. Lineups were slow, the spaces were cramped and the service was minimal at best. The declining use of cash has broken this power dynamic.
People don’t need to visit the branch as much as they used to, which means there are fewer opportunities for banks to sell the investments, credit lines and credit cards that sustain their revenues and profits. The Royal Bank of Canada branch that opened beside the Place d’Orleans Mall in suburban Ottawa last May is a shining example of how banks are trying to keep branch banking alive in an increasingly cashless world.
11:59 am
May 27, 2016
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So the Big Five have rediscovered the need to have human staff handle customer inquiries at the branch level? I'm sure it's just a temporary stopgap measure until they can roll out robots to do that and charge a fee for answering each question you ask
12:32 pm
December 17, 2016
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From the article -
... people adapted to making payments with the tap of a debit card [credit card], remote cheque-cashing using smartphones or tablets and e-transfers that permit money to be sent via e-mail or text instead of cheque.
^^^^ This is exactly what has become of my B5 bricks and mortar banking experience - in fact, this pretty much speaks to my entire banking experience across all FIs I deal with.
They do, however, take every advantage of pushing LOCs, CC limit increases, etc. whenever I sign in to my online account.
1:10 pm
January 25, 2019
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Hopefully the new proposed in branch robots are programmed to treat all customers timely, with respect, and as a valued member.
1:16 pm
May 27, 2016
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After 35 years I still get phone spammed by CIBC every 3-6 months trying to push something on me. However, none of the callers ever seems to have access to anything resembling an accurate customer profile to refine their pitch, e.g. about 3 weeks ago (and before I could stop him talking), buddy quickly went into his scripted spiel about the bank "wanting to help me reach my savings goals" presumably because under CIBC-think, since I don't maintain any savings with them, that must mean I don't have any.
When I told him I was retired and was of the opinion that I already had adequate savings "and thank goodness for that because it would be a little late to be starting now", he was completely non-plussed and began stuttering because he didn't know what to say. Apparently how to deal with that particular response wasn't on his script.
TD has also recently been trying to wangle their way into my assets by not-so-subtly pushing their advisory services, even though I've always been a self-directed account investor with them for 40+ years. It took a few "I'll let you know if I ever want any additional input on the subject matter" conversations before they finally gave up
1:21 pm
December 17, 2016
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Charlotte said
Hopefully the new proposed in branch robots are programmed to treat all customers timely, with respect, and as a valued member.
Yeah, I personally don't need any of that hand-holding, hugging stuff.
What I expect though is when I need a matter dealt with that I get bumped far enough up the pyramid to someone who actuals knows something and doesn't just answer from the standard tabbed call-in manual which invariably never answers/solves the problem. There's no shame in admitting you don't have the answer and will undertake to get you to someone who does ... and that goes for out-of-touch branch managers as well. (this comment is solely about my on-going battle with my bank and their supposedly world-beating credit card algorithms WHICH by the way, seem to have been resolved NOT because I actually spoke with someone in the know but most likely because of my incessant berating, period)
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