Question

Topic: Advertising/PR

Banking At Your Doorstep

Posted by Anonymous on 6/22/2010 at 2:33 PM ET 125 Points
My bank would like to implement "Banking at your Doorstep" where bank employees would identify new and existing customers and visit them to provide various banking services (courier delivery, cash pickup, deposits, etc.).

Are there any compliance rules or other concerns about sending out employees who may be carrying cash?
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RESPONSES

  • Posted by matthewmnex on 6/24/2010 at 9:09 PM Accepted
    Wow,

    The internet was supposed make banking convenient.

    Personally, I almost never visit my branch anymore. I withdraw cash at ATM's when I need and otherwise almost all other transactions are managed with my online account.

    Most typical banking transactions 30 to 45 seconds to accomplish so I don't think a banker coming to my home or office would be useful at all and would actually be more of an inconvenience as it would take longer.

    NO, If we are talking about VHNW clients who want very personalised service then yes, why not but carrying cash ??? NO NO NO - very very dangerous and the bank simply carries too much liability. If the cash is lost or held up in transit whilst in the possession of the bank rep - then the bank is liable to repay it to the customer.

    I think it is the worst business idea I have heard ever :))

    Tell you bank to go back to the drawing board.

    Good luck,

    Matthew
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