5 bank services that will be obsolete in 10 years

A decade from now, these services will be gone and you'll be banking in completely different ways.

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Jul 14, 2014 7:16PM
Has anyone stopped to think ? If you want to take out a larger amount of cash from your account than an ATM can handle , where do you go to get your money if there are no banks? You can't get it from your smart phone or laptop , lol  Sure , online banking works to move money and pay bills , but what if you want to close your account and not move it to another bank , where's your cash ? I know we are supposedly moving to a cashless society , but there will always be a segment of society that will not want to do so .
Jul 14, 2014 9:36PM
Well, folks . . . I'm old-fashioned (mule-headed?), so I neither use Facebook, nor Skype, nor Twitter ("Real men don't TWEET!").  I don't know---or care---what a hashtag is, and I don't pay bills online.  And just to assure that I offend the greatest number . . . I don't give a S___T about soccer . . . or LEBRON!  

This article states that you will have a "private banker"---you can have one NOW---IF you have at least $100K on deposit in his institution.  

They'll have to pry my check-book from my cold, dead hands!  

Gary / July '14  
Jul 14, 2014 8:06PM
They said checks would be obsolete 10 years ago. I like how they say, "the savings & benefits will be passed on to you", yea, right. They keep cutting jobs, and yet I keep paying more for everything. I do like my online banking, but it will be a strange world when I go to the store, and no people, just robots ringing me up, then robots at the restaurant, robots cooking my food, robots cutting my hair, robots at the bank, robots at the ticket counter. . . no human contact.  Not so sure it will be great.
Jul 15, 2014 12:02AM
Kinda like the oil companies. In the 50's and 60's when you drove up to a gas station someone filled your tank, washed your windows and checked your oil if you wanted. Then it changed and suddenly Americans were free to pump their own gas-what a deal! The oil companies got us to do part of their job without paying us and pocketed the profit. Banks are following the business model. It's all about freedom, right?
Jul 14, 2014 6:45PM
why did the banker break up with his girlfriend? he lost interest.

why did the football coach go to the bank? to get his quarter back.

where does a snowman hide his money? in a snowbank.

what do you call a Santa that's broke? Saint Nickel-less.
Jul 15, 2014 12:03AM
So I thought this on-line bill pay is neat and convenient until I found out that while the bank immediately debits my account it takes them 7 to 10 days to cut a check and send it by snail mail to actually pay the bill.  Meantime they have free use of my money for that time and I get overdue notices.  I think I shall revert to credit card use for bill pay.  
What do I do with a check that someone writes me if there is no bank where I can deposit it?  If there is no paper what happens when my computer crashes? Do I have to dash out madly to buy a new one?  I and many others have no cell phone, smart phone (now that's a contradiction in terms) and no real use for one of those overpriced toys with a several hundred dollar price tag and a life expectancy of months.  Access to a bank and banking services is essential and now you are telling me they don't want to provide service anymore?  That figures.
Jul 14, 2014 8:15PM
But I still bet they will dole out the bonuses!
Jul 14, 2014 9:02PM
Paper won't be eliminated.  The bank I had gave me orally an interest rate.  One year later, I noted they shorted me $30 and I couldn't argue with them because I didn't have the interest rate they promised on paper.  I did complain to the regulator and the home office of the bank to no avail.  The lady at the bank said I got the interest they claimed but I'm an engineer.  I know how to do calculations and they plain shorted me because I didn't have the paper to prove it.
Jul 15, 2014 10:04AM
Call me old fashioned but I like going to the bank and there is no long lines at the teller anymore. I can get to see my banker in 5 minutes or less. You see I love the old fashioned banking. When there is a problem with my account I go see the people at the bank and its fixed in a few minutes. I don't bank on line and I've never been "hacked" by an online crook. My personel thoughts are beware because the more of your sensitive info gets out there its going to be a goldmine for the thieves. I don't care how good your web security is there are people out there everyday waiting to steal your money. One last food for thought, If they robb my bank I get my money back guarenteed by the FDIC. If they hack your online secure bank account who is going to guarentee you get your money back?
Jul 15, 2014 9:03AM
Screw that. They're making billions of dollars a year off of their customers, and trying to cut services all the while. That "one check a month" that some people are writing is their rent check, and smaller landlords aren't hurrying into the 21st century. I've banked at the same location my entire life, with mostly the same tellers, and the only thing that's changed has been the name over the door- KeyBank, Dime, WaMu, and now Chase. I'll keep using branch services, thanks.
Jul 15, 2014 9:43AM

We have been going "paperless"  for 30 years.  Not gonna happen.  You see like the missing IRS e mails. Cyberspace cannot be found if something disappears.


I always kept paper backup at work, thank God.  When I asked the Information Services folks about some older records the answer was we installed anew system and the new guy has no idea where the old records might be, but will look,  I didn't have time to wait, but my paper records were right there.

Jul 15, 2014 11:28AM
What nobody has mentioned yet is: what about business customers?  This article is really trying to tell me (as a small business owner) that I won't be able to accept cash from my customers?  Are they telling me that I'll be forced to overhaul all of my point of sale systems to a cashless system.  Yeah, right.  Whoever wrote this article is an idiot.
Jul 15, 2014 9:03AM
The way commercial banks treat their customers,  it's a wonder they still exist for their small customers.  They seem to have a bad attitude and an exploitative mindset similar to most airlines.
I left commercial banks altogether in favor of credit unions and I won't be going back.

Jul 15, 2014 2:31PM
The Bank service I miss most is the one were they actually pay me interest on the money in my Savings Account and CD
Jul 15, 2014 12:04PM
I am 68 yrs. old and remember when banks would help their customers now all they care about is trying to get all your money and give you nothing in return  that's why I switched to credit unions and don't own a credit card  just use cash or debit card I was really disappointed when the Fed bailed out the banks and mortgage industry they should have let them collapse it was their own doing and we bailed them out  just plain stupidity  the feds sure didn't help the average Joe  they just screwed us again
Jul 14, 2014 8:34PM

The Age of Robots, here they come!...

Wait until your Fast Food Drive up is replaced by a giant TV screen with a fully interactive computer-hottie taking your order and a machine in the back cooking then bagging your burger perfectly and quickly. 

Bring on those minimum wages hikes PLEASE! (Corporate CEO's salivating at the mouth...)

Jul 15, 2014 1:58PM
Look for banks and credit unions or credit card companies to send you where you can go to have a chip implanted inside your skin or implement an eye scan or finger print system so you can buy, pay and sell. You see where I'm going with this? That day is around the corner and when it does come, then we are all doomed. Not science fiction either.
Jul 15, 2014 10:34AM
Anything and everything to make the institution less personal and more non-responsive will result in greater profits for the institution. Neither the customer nor their satisfaction is important any longer. You only have to look at the ubiquitous impersonal phone trees to prove that. If anything is out of the ordinary and not a "menu item" on the phone tree, you will be unlikely to find any real knowledgeable professional to talk to in less than three days of holding on the line. Some will call that progress.
Jul 15, 2014 2:02PM
Another thing to consider. Take a note....any note out of your wallet or bill fold. See what it says. For all debts public and private. You can do that with money. When everything including money gets "digitized" you gonna lose the privacy. Come to think about it maybe thats what the government wants hmmm.
Jul 15, 2014 12:29PM
Seems to me that a long time ago banks could not sell insurance, and a whole lot of other "services".  Then they thought they could make some $$$$$$$ off their "valued customers", so in came, insurance, investments, etc, etc.  Now, they have to reduce their costs so they are eliminating what made them the favorite bank for their customers.  Great thinking.
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