Fewer bank branches: Trust has its price




Sometimes you need help with really simple things, hopefully that will work in the bank branch: Filling out a transfer on paper
Image: dpa

Many banks are increasingly thinning out their branch networks for cost reasons. But even in an increasingly virtual world, what counts for customers are the very banal, real things.

Kno doubt, the possibilities of doing banking transactions on the computer at home or via mobile phone are constantly increasing. The shopping spree on the Internet, including the type of payment, always knows new variants. It should be quick and easy. And that’s mostly it. But even today that’s not all that counts in money matters. Some young financial companies quickly disappear from the scene again – no small thing in an industry in which customer confidence in the security of money is essential. In addition, there are still many people who cannot or do not want to use internet banking. Even sworn online fans appreciate the advantages of a bank branch, for example if they want personal advice.

However, credit institutes are increasingly thinning out their branch networks in order to save costs and take account of changes in user behavior. In the remaining branches, they want to move away from the classic everyday banking towards more advice. That’s certainly not a bad idea. But even in an increasingly virtual world, very banal real things count, such as filling out a transfer for an elderly lady, paying in cash for a business customer, sorts for vacation or renting a safe deposit box. Not everything works on the internet or in the supermarket and it is also a question of trust. Nice when you have it. But everything has its price.



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