12 December 2009

Banks as stores?

I just went to my bank's web site to find the location of an ATM. As I was browsing the page, I had the thought "where's the Store Locator link?". That got me thinking, what are banks, really, other than stores where you take out or put in money? There's the fact that they have an implied responsibility to take care of your money, but, when you think about it, a transaction at a bank is really no different than a transaction with a clerk at a store.

5 comments:

Mark said...

Not entirely. There is the minor issue of FDIC. If a Walmart goes under, the Fed is not on the hook for any loss you may suffer. You're just another creditor - and waaaaay down at the bottom of the list when it comes to getting that big-screen TV you paid for but never took delivery of.

cassdawn said...

but far more importantly - they never have 50% off sales

Frank Moore said...

Mark, you are correct. However, the point here is that the valid reasons for limiting account activity to the "next business day" are becoming fewer and fewer. The next business day should be the next day.

And Cass, I love the idea of a 50% off sale at the bank. But what would it be 50% off of?

Mark said...

OK, I can't argue with that point. In my defense, however, you did not articulate that point in your original post...

cassdawn said...

Hundred dollar bills? Mortgages - that kind of thing

I shud be able to tell you boy or girl tomorrow