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Bank Questions- Ask Here (1 Viewer)

Chadstroma

Footballguy
I am bored out of my mind right now.

If you got a question- serious or not so much, then ask. I will give a serious or not so much answer.

 
On any given day, what is the amount of cash in the entire bank?
For security reasons, I have to be generic on this answer.

It really depends on the branch. Bank branches tend to carry less than they did when I first started in banking many moons ago.

15 years ago I remember handeling half a million for shipments for an 'average' branch. Even the biggest/busiest branches these days are typically no where near that.

 
Why do banks have worse security cameras than the average cell phone video? A decent camera shouldnt cost that much.

 
Why do banks have worse security cameras than the average cell phone video? A decent camera shouldnt cost that much.
Most have upgraded systems these days I would say. But it comes down to cost and not just the cost of the camera but the infrastructure to support the camera and the monitoring systems etc. The cameras on the banks these days are not passive but can be actively monitored off site as well as DVR'd. Apparently it is not easy to just upgrade a camera because if you do that then you have to upgrade everything else and that means you have to do it over X amount of branches you have- so it can be an expensive proposition, more so than you might think.

 
What is your position at the bank? Do you have dreams of something higher and what are the odds of you achieving said dream?

 
Has your bank ever been robbed or has an attempt ever been made? If so, were you there and what did you think/feel?

 
With so many online banking options available, what is the banking industry doing to react to less traffic?
For the most part, most people want to have the safety net of a B&M branch nearby even if they almost never use it. Traffic volume has gone done in ridiculous levels from when I first started to now. Some banks have different strategies but the overall trend is to close branches and cut staff levels and positions while cross training the remaining ones. Alot of banks are trying to re-conceptualize the bank branch. Again, some are going different route here. Banks are playing with less sqft for branches, ATM's that are able to do most transactions, more open/retail feel to layouts, etc.

 
What is your position at the bank? Do you have dreams of something higher and what are the odds of you achieving said dream?
Currently a banker though I have done everything in a branch (teller, assistant manager, branch manager and now banker) and have even done some stuff in back office in my career as well.

Of course I do within and outside of banking. Within banking, it will be a progression of different positions. Outside will be to start my own business but that will take a little time to get to that.

 
Has your bank ever been robbed or has an attempt ever been made? If so, were you there and what did you think/feel?
I have only been through one and I really did not even go through it. It was when I was a teller (fairly new.... first few months of me starting there) and I had just gone on lunch break and the teller next to me got a note pusher. I felt bad because she was all alone because I went on lunch and the guy would have been in line when I left. She was pretty shaken by it but got over it. She is still in banking today some 17+ years later.

 
Is there a policy if someone goes to deposit something that's worth more than face value? (silver coinage/out of print bills)

 
What would you say...you do here?
Well Bob, I already told you people.... WHAT IS THE MATTER WITH YOU PEOPLE?!

Basically, I sit around waiting to help someone and then through a consultative sales approach find out how I can save them money, make them money, save them time, make their lives easier, etc. And then help them.

 
would you report Dennis Hastert if he was withdrawing money form your bank to pay off blackmail for having gay sex with a teen?

 
Why are pens chained to the table? And why do they write like crap?
Because people steal pens. When sitting with a customer, I do not give them my pen but hand them one of the generic ones because if you do that you will never have a decent pens. And they write like crap because they are cheap.

 
Is there a policy if someone goes to deposit something that's worth more than face value? (silver coinage/out of print bills)
I am not sure here but in past banks that I worked for- you could not exchange them and take them as an employee. I don't remember what the process was beyond that though. At my current employer, I do not know for sure but I would expect that there would be some sort of policy that kept employees from exchanging them for their own.

 
if the gun isn't loaded, it's not actually armed robbery, right?

eta: also... if I pass a note that says "I have a gub", also not armed robbery?

 
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If all of your servers get wiped out, do all of the outstanding debts owed get erased as well? And if so, where exactly are all of these servers located? Asking for a friend. TIA.

 
Serious question here.

There are a ton of "pop-up" banks around where I live. Basically, banks that have names that I have never heard of and are not mainstream. Are many of these off-shoots/subsidiaries of larger banks or is a bank able to sustain life with one branch? If the latter, how the heck is that possible with the amount of employees which have to be fully dedicated to compliance with all the new regulations?

 
Has you bank been converted to the new dickfer system yet? My friends in banking say is life changing.

 
I've heard the saying, owe a dollar and the bank owns you. Owe a million dollars and you own the bank.

I've got about 105K in school loans. How many more degrees do I need before I have a bank of my very own?

 
Serious question here.

There are a ton of "pop-up" banks around where I live. Basically, banks that have names that I have never heard of and are not mainstream. Are many of these off-shoots/subsidiaries of larger banks or is a bank able to sustain life with one branch? If the latter, how the heck is that possible with the amount of employees which have to be fully dedicated to compliance with all the new regulations?
I think you are referring to community banks.

It is actually a pretty involved question. The regulatory burden has greatly increased over the last 8 years or so. In a lot of ways, it is easier for larger banks to handle the extra burden as the costs as spread over a much larger organization and they can afford to hire people specifically to deal with them. Smaller banks obviously can not. I know a lot end up paying for consultants to help in various areas that they lack.

A local Chicago bank has a rather unique model where they have many charters and operate them under different names. Typically, if the branch is in XYZ, IL then the branch will be named XYZ Community Bank. It has worked for them as they have focused elsewhere than retail banking over the years and there are people who still like the idea of community banks even though this one particular bank is more of a small regional bank. As they continue to grow, I suspect they will at some poine change their model. This is a rather unique way of doing business and I am not familar with too many others doing the same but it does happen.

Most thriving community banks have some sort of niche that they focus on and do well in. Loans for airplanes or a particular small business industry. It is great when things are going well but the lack of diversification can sink them when things are not going well.

The number of troubled banks has dropped significantly over the last few years. Some have failed, some have got better, some have merged and some have found fresh capital. There are a lot of sellers out there but not a whole lot of buyers and not at what the sellers want to sell for. Overall, the applications for new banks has slowed to a crawl and there will be more consolidation of the market.

 

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