Word: branchless
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...customer is. Because the company sells bare-bones products at a slim margin, it needs low-maintenance customers. At the firm's New York City café, one of five token storefronts, manager Omar Woodard recently let an older woman walk away without an account after she worried aloud that branchless banking might be too newfangled. "Customers who don't fit our business model don't fit our business model, and that's totally O.K.," says Woodard. "The bank just wasn...
Ironically, some e-banks are dealing with the catch-22 of being branchless by building branches. E*Trade Bank, 13th largest FDIC-insured savings bank by assets and leader of the Internet-onlies by a mile, piggybacks on its parent, which opened a superstore in April in New York City, and is launching mini-branches in Target stores across the country...
There is no question that e-banks are a better deal, if slightly less convenient. Mailing deposits is a drag, but direct deposit helps, as do new super ATMs. And because most branchless banks reimburse you for ATM fees, "they're essentially offering more freedom than any other bank," says analyst Greg McBride. More freedom, but less hand holding. Kind of like growing...
| 1 |