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0 pointshindsightbias3y ago0 comments

That’s because the banks took their 2008 bailouts and built a million branches.

All those branches closed during covid. I have 6 within walking distance and there isn’t a human anywhere.

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4 comments · 3 top-level

echelon3y ago· 1 in thread

And yet they're still building new branches left and right!

I count half a dozen Chase branches that have gone up near me in the past few months. I don't get it.

zmmmmm3y ago

Probably because they've ascertained that one of the key things customers look for in selecting a bank is whether there is a branch near them. Never mind if there is literally anything in there other than an ATM ...

wonderwonder3y ago

Branches exist for the most part as places for people to open accounts. Everything else is understaffed and exists as a side effect to get more accounts opened at the bank.

7speter3y ago

Around where I live, they opened branches with 5 atms and maybe 2 people "assisting" account holders with the atms.

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