Irish Banks pushing for Cashless Banking?

[fungus]

FT: Data raise questions about viability of bricks and mortar bank networks

next.ft.com/content/ef20337c-1d … %2Fproduct

Mr King said that branches could have leases for as long as a decade. He predicted that a “massive decline” in branches would begin soon. “We’ll go down to half the branches we have today by 2025,” he said.

At a conference last week he said that Bank of America had reduced its branch count by 23 per cent over the past five years to 4,700.

“It’s one-tenth the cost if somebody makes deposits through our mobile franchise than when they come into the branch,” Mr Donofrio said.

[tulip]

Wow cashless banking will enable a whole new level of tax farming. The folks in Okie have already cottoned onto it.

Civil asset forfeiture goes digital and politicians wake up
Police in Oklahoma are deploying an electronic scanner that can drain currency from prepaid credit cards seized at the roadside using civil asset forfeiture laws.

The Electronic Recovery and Access to Data (ERAD) handheld scanner was developed at the request of the Department of Homeland Security for use by US border guards. But the gadget’s maker is now marketing it to local and state police, and Oklahoma has bought 16 of the scanners for its highway patrol.
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The state police are paying ERAD $5,000 and 7.7 per cent of all funds seized. Highway Patrol Lt John Vincent told KWTV that the main purpose of the readers is to catch identity thieves and money launderers.
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Oklahoma police are enthusiastic users of the laws. In April, officers from Muskogee county seized $53,249 in cash from a Christian rock band after stopping their tour bus for having a broken tail light. They gave the money back after the media started reporting the case; now politicians have got involved.

[fungus]

Barclays Bets on Video Tellers as Branches Dwindle

bloomberg.com/news/articles/ … es-dwindle

Although the bank continues to eliminate branches—from 2,000 in the U.K. a decade ago to 1,362 in 2015—managers insist video banking isn’t driven by cost cuts. “This isn’t about forcing people to change the way they talk to us,” says Steven Cooper, head of personal banking at Barclays. “It’s about giving customers choice.” Barclays is looking for ways to connect with its customers and, more important, hang on to them in the face of competition from financial-technology startups promising to let people manage their money from a smartphone.

[satechi]

Wow cashless banking will enable a whole new level of tax farming. The folks in Okie have already cottoned onto it.

Damn read that, what happens if the cardholder charges back that would hit the cops with chargeback fees, but i presume Visa would just refuse and side with the cops…

Those Christians should have used bitcoin, which btw jumped 55% in price in last month ( happy days at satechi hq )

[Blindjustice]

Not Ireland but it raises an interesting point…

abc.net.au/news/2016-07-04/n … ne/7566360

its cheaper for businesses to be cashless, this will mean an eventual change to this kind of commerce
It is several years since this thread was started and since we have had negative interest rates which were unthinkable once upon a time

[Open_Window]

Not Ireland but it raises an interesting point…

abc.net.au/news/2016-07-04/n … ne/7566360

its cheaper for businesses to be cashless, this will mean an eventual change to this kind of commerce
It is several years since this thread was started and since we have had negative interest rates which were unthinkable once upon a time

Hipsters push for a Brave New 1984.

[fungus]

The Sunday Business Post states that the number of EBS branches in the last few years has reduced from 90 to 71 with the possibility of further branch closures.

[fungus]

More branch closure …

Bank of Ireland to close eight branches in Northern Ireland

rte.ie/news/business/2016/07 … reland-ni/

The branches - which will be closed on a phased basis starting in the autumn - are located in: Castlereagh, Draperstown, Antrim, Belleek, Castlederg, Newtownards, Maghera, and Donegall Square South in Belfast (City Hall branch).

Staff affected by the closures will be able to transfer, redeploy, or relocate to other roles within Bank of Ireland, or apply for voluntary redundancy.

However, the move could result in more than 50 redundancies.

[satechi]

Has the Ulster Bank andoid app stopped working in last few weeks for anyone? keeps crashing

They added fingerprint login which is not good since fingerprints are usernames not passwords, but hey trust a bank to know about computer security

[shweeney]

Has the Ulster Bank andoid app stopped working in last few weeks for anyone? keeps crashing

They added fingerprint login which is not good since fingerprints are usernames not passwords, but hey trust a bank to know about computer security

App is still working for me, though my phone doesn’t have a fingerprint scanner.

[TheJackal]

Has the Ulster Bank andoid app stopped working in last few weeks for anyone? keeps crashing

They added fingerprint login which is not good since fingerprints are usernames not passwords, but hey trust a bank to know about computer security

App is still working for me, though my phone doesn’t have a fingerprint scanner.

Same for me

[satechi]

Now that I think of it started since phone updated to android 6.0.1 trying to find someone human in tech support at that bank to complain

[fungus]

Why 3,000 bank branches must close

theguardian.com/money/blog/ … es-closing

If you work in one of any of the 6,479 branches of Lloyds, Barclays, HSBC, NatWest and Santander, this is going to make for grim reading. If one applies Hughes’ yardstick, that’s around 3,200 too many. Nationwide’s own network is, rather neatly, around 650-strong – but data body CACI also reckons that 600-650 is about right for every bank.

In 2011 there were 478m “customer interactions” in Britain’s bank branches. This year it will be less than 280m. Tumbleweed blows through some branches – the average one now handles only 71 customers a day, with some seeing just a handful of people.

[temene]

All the Irish banks are now offering the free standard account for EU residents - some have interesting conditions such as UB stating the max you can lodge is the minimum wage equivalent (€9.15 x 40h x 52w = €19,032pa)

Is there any benefit to opening a basic account in another EU country if you are resident here?

[dipole]

Isn’t Number24 effectively foreign as it has a German IBAN also I’d guess the main benefit of having a non-Irish bank account is that Noonan can’t touch it when he needs to bail out the entitled classes at the expense of everyone else.

[Mantissa]

Isn’t Number24 effectively foreign as it has a German IBAN also I’d guess the main benefit of having a non-Irish bank account is that Noonan can’t touch it when he needs to bail out the entitled classes at the expense of everyone else.

The main advantage is that it doesn’t suck balls.

Also the Noonan thing.

Now rebranded N26 by the way after they split from Wirecard.

[fungus]

In Belgium, the number of ING branches will be cut to 650, from 1,200. qz.com/799816/dutch-bank-ing-is- … ign=buffer

[Skippy_3]

Isn’t Number24 effectively foreign as it has a German IBAN also I’d guess the main benefit of having a non-Irish bank account is that Noonan can’t touch it when he needs to bail out the entitled classes at the expense of everyone else.

When push comes to shove sovereigns support the banks of their own taxpayers and don’t give a fupp about anyone else’s.

Take Icesave in 2008 which walked away from British and Dutch depositors.

You are mighty innocent if you think Irish people’s savings are safer in an online German one than in an Irish one with a bricks’n’mortar presence.

[dipole]

You are mighty innocent if you think Irish people’s savings are safer in an online German one than in an Irish one with a bricks’n’mortar presence.

Innocent? Really?
My solvent contributory pension fund was raided because it was within the reach of Noonan. When things go bad Noonan or whoever follows will have no problem in stealing more of their citizens money for the “greater good” of the Irish Nation or rather Insiders.
Apart from calling me “innocent” respond with something credible which shows why Noonan’s actions weren’t anything more than bare faced theft purely because I and all other pension savers were an easy mark.

[Skippy_3]

You are mighty innocent if you think Irish people’s savings are safer in an online German one than in an Irish one with a bricks’n’mortar presence.

Innocent? Really?
My solvent contributory pension fund was raided because it was within the reach of Noonan. When things go bad Noonan or whoever follows will have no problem in stealing more of their citizens money for the “greater good” of the Irish Nation or rather Insiders.
Apart from calling me “innocent” respond with something credible which shows why Noonan’s actions weren’t anything more than bare faced theft purely because I and all other pension savers were an easy mark.

What retail depositor ever had her deposits reduced or restricted in Ireland, ever?

All taxation is theft btw.