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Old 12-19-2008, 02:40 PM
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GREENBACK GREENBACK is offline
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Originally Posted by minnie1928 View Post
Banks are sales offices that do some banking transactions on the side. Tellers are trained to sell products, managers are trained to manage the salesmen (tellers). The hope is that by placing a brick & mortar branch in a new location that they will gain new customers/new accounts. They don't make money on transactions, transactions cost money. They want you to walk into the branch not to make a teller transaction but instead to sell you a new product, that's where the money lies.

I was in banking 20 years, in the accounting department. I've seen the numbers...hell, I produced a good many of the reports!
That's interesting minnie. I've noticed a lot of advertising posted for various types of loans and other products at my bank but have never had a teller try to verbally sell me anything like the typical salesmen might.
I believe what you're saying but never thought of things that way.
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Old 12-19-2008, 03:28 PM
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disneysteve disneysteve is offline
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I've noticed a lot of advertising posted for various types of loans and other products at my bank but have never had a teller try to verbally sell me anything like the typical salesmen might.
Same here. My local branch has various posters but I just ignore them. To be more accurate, I don't ignore them. I disregard them because any that I've ever seen were for inferior offers. Last time I was in the branch, they were advertising their "high yield CD" which was paying a whopping 2.5%. Wow.

I've never had a teller or a customer service rep try to sell me anything.
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Old 12-19-2008, 07:30 PM
minnie1928 minnie1928 is offline
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Interesting post, minnie1928. It just doesn't seem like there is enough business to go around to support all of the new branches that keep popping up. When Commerce Bank moved into the area, they sprung up every mile or so. In no time at all, we went from none to a dozen or more in my area. Is there really that much business to be had. At the same time, 6 other banks were also building new branches in the same georgraphic area. They must be making a ton of money to be able to afford to build and staff all of these branches. It can't be cheap.
Commerce was a bank waiting to be bought. The expense of those branches and the convenience cost was HUGE. Not to mention all the shady business the CEO was doing...
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Old 12-20-2008, 03:58 PM
mom-from-missouri mom-from-missouri is offline
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yes, it was not a big deal at all to me either, and it won't do much will it? lol
I know of at least 4 families that found it to be a very big deal and it did a lot for them.
One was a family in our homeschool group. The mom had cancer and copays were adding up.
The other 3 were families who had been laid off work and it paid the rent, car payment and bought some food.
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