Bank doesn't want to bank anymore, stops dealing in cash.

lostexpectation

http://www.unison.ie/breakingnews/index.php3?ca=35&si=99734

National Irish Bank has announced plans to cash services at its Howth branch in Dublin following a series of raids.

The bank says it has decided to longer handle cash transactions at the outlet from December 1st following a detailed security review.

The review was prompted by a series of raids that have seen criminals net hundreds of thousands of euros.

The most high profile of the robberies happened in August, when an employee of the NIB branch in Killester was kidnapped along with his family before being force to go to work and hand over cash to an armed gang.

why isn't it the case that two people are needed to access money at banks???

I know it would increase the amount of people potentially up for kidnap but it would need a gang twice as big... which would make it much less likely.


of course they will now be providing extra ways for people and business big and samll to use plastic money???

constitutionus

i work in the financial sector and this is a smokescreen. the most expensive facet of banking is the transportation of money,its very very expensive . so by doing this "for the protection of staff" NIB will save an absolute fortune.

to be honest theyre not the first, i have a SSIA with First Active and they stopped using cast over 2 years ago, purely of course to faciltiate and streamline my account:rolleyes: my heart actually goes out to the NIB customers cause if they go through what ive gone through with First active theyre into a whole world of problems. the most obvious being the one that ****ed me up, monthly payments having to be in cheque form and hence taking a working week to clear. i actually had to get a loan to pay off my SSIA in one go because its now impossible for me to lodge it before the debit date and as a result costing me the government top up.

ive never had as much trouble with an institution as ive had with First active in the last 2 years and i bank with Bank of Ireland soon as my account matures im closing it, a financial institution that doesnt deal with cash is a joke so my advice is if your with this branch of NIB , get out now or it'll be a signal to the rest of em. (and if youve got an SSIA with NIB , get it sorted)

Archeron

Well, if anything this just proves that we should all have barcodes tattoed on our foreheads and pay for things by having ourselves scanned in. Get rid of cash and see a massive reduction in fraud. (but a massive increase in forehead skin theft cases)

constitutionus

Archeron wrote:

Well, if anything this just proves that we should all have barcodes tattoed on our foreheads and pay for things by having ourselves scanned in. Get rid of cash and see a massive reduction in fraud. (but a massive increase in forehead skin theft cases)

gives a whole new meaning to the term "headhunting":D

on a weird aside i was reading a report that said a fairly high percentage of people would actually have an implant put under the skin that they could then just swipe across a pad to pay a bill. some people are just ****ing weird

rymus

Archeron wrote:

but a massive increase in forehead skin theft cases

Jaysus, when I originally read that I thought it was "massive increase in foreskin theft cases". Nearly spat out a mouthful of tea onto my monitor.

WhiteWashMan

rymus wrote:

Jaysus, when I originally read that I thought it was "massive increase in foreskin theft cases". Nearly spat out a mouthful of tea onto my monitor.

its mainly a jewish problem.
mainly...

The Sweeper

constitutionus wrote:

on a weird aside i was reading a report that said a fairly high percentage of people would actually have an implant put under the skin that they could then just swipe across a pad to pay a bill. some people are just ****ing weird

Nightclubs in Spain already do it. You get a tiny chip, size of a grain of rice, implanted in your arm. Costs €125 I believe. Then you pass your chipped arm over a barcode scanner on the bar when you want to pay for drinks. The chip is barcoded, and the barcode is linked to your bank account details. Saves bringing wallet/cash out with you, safer, less fraud apparently, so on.

TwoShedsJackson

The banks will do anything they can to get the regular public out of their branches. They have no interest in serving you so they're probably delighted at this excuse to get even more of the swinish multitudes out of their branch.

WhiteWashMan

thats becuase the public are scum....

phantom_lord

So what's the purpose of the branches now....? Just to sign up for loans and acccounts?

Sam Vimes

MinesBIGSLUT wrote:

Nightclubs in Spain already do it. You get a tiny chip, size of a grain of rice, implanted in your arm. Costs €125 I believe. Then you pass your chipped arm over a barcode scanner on the bar when you want to pay for drinks. The chip is barcoded, and the barcode is linked to your bank account details. Saves bringing wallet/cash out with you, safer, less fraud apparently, so on.

seriously? that sounds a bit insane

biko

The banks wants us all to use credit cards and then they can charge us administration when it is us doing all the work (ATM, paying at checkouts etc).
I only bank so I can have my VISA when I go abroad, and also because my employer refuses to pay me cash.

lostexpectation

TwoShedsJackson wrote:

The banks will do anything they can to get the regular public out of their branches. They have no interest in serving you so they're probably delighted at this excuse to get even more of the swinish multitudes out of their branch.

it affecting business aswell who deal in cash.

Tom Dunne

Commander Vimes wrote:

seriously? that sounds a bit insane

Yes, it was on CSI Miami, so it must be true.

super_furry

It's the mark of the beast!!!!

Seriously though, what's the point of the bank now?

Archeron

super_furry wrote:

It's the mark of the beast!!!!

Seriously though, what's the point of the bank now?

Where else would you go to get looked down upon by a snotty 21 year old who is doing you a massive favour by charging extortionate interest rates for that £10 sterling you want to send you sick granny for Easter.
Other than that, pretty much just watching Barney the Dinosaur in Irish. (thats aimed at AIB Clondalkin, why the hell do you keep showing this programme???)

Dooom

Someone here had an idea a while back on another thread that involved the key or whatever openy-thingy for the safe to be distributed among several staff on a random basis. Therefore making getting the key a hell of a lot harder.

Made sense to me at the time anyway.

constitutionus

super_furry wrote:

Seriously though, what's the point of the bank now?

well basically its to screw as much money out of you without actually providing any service. take the whole "banking 365" thing or its competetive equivelent. a wonderful service that costs the banks nothing in terms of employees cause its all computerised and cost you a phone call or internet access charge. if it was left to the banks boards of directors they'd sack all the staff and install a load of ATM machines. after all you dont have to pay them pensions. it really is sick what theyre up too considering the profits they make. take bank of ireland, why are they sacking people and closing branches when they make 1.6billion a year in profit?

ya want my advice, dont save in a bank. buy shares in it, you'll get more in the dividend in 1 year than you'll make in the interest in 10

bounty

Spike wrote:

Someone here had an idea a while back on another thread that involved the key or whatever openy-thingy for the safe to be distributed among several staff on a random basis. Therefore making getting the key a hell of a lot harder.

Made sense to me at the time anyway.

the bigger branches do this already, and have 2 keys

but, nib howth is a crappy little branch, with few managers

abetarrush

cud they not jus hire snipers to watch the place?

Dooom

bounty wrote:

the bigger branches do this already, and have 2 keys

but, nib howth is a crappy little branch, with few managers

Ah. In that case, I'll agree with abetarrush. Except replace "snipers" with "tank". Sorted. I've always wanted a tank.

Captain Trips

Archeron wrote:

Well, if anything this just proves that we should all have barcodes tattoed on our foreheads and pay for things by having ourselves scanned in. Get rid of cash and see a massive reduction in fraud. (but a massive increase in forehead skin theft cases)

JUst like WIlliam Gibson wrote in Neuroromancer - in a decade cash will probably be illegal in the Anglo Saxon countries - less so in Germany/Switz which has less of a credit/card system, but defo in probably the Uk, US, Aus or at least in cities.

snickerpuss

I never really get how no cash will work. Will you need to give kids credit cards? Sounds dodgey. Also i'm not allowed a credit card or a laser card cos i've only been working 3 months so i'd be screwed if there was no cash.

mr_angry

Debit cards for kids, most likely.

xebec

snickerpuss wrote:

Also i'm not allowed a credit card or a laser card cos i've only been working 3 months so i'd be screwed if there was no cash.

Change bank if you want them! I'm a student, I don't work and I have a Laser card and a Mastercard, the bank didn't really see have any trouble with giving me them!

Ruu_Old

snickerpuss wrote:

I never really get how no cash will work. Will you need to give kids credit cards? Sounds dodgey. Also i'm not allowed a credit card or a laser card cos i've only been working 3 months so i'd be screwed if there was no cash.

I would hope not. Debit cards or something for kids as tom mentioned.
*puts card on counter of sweet shop* "Max it out my good man!"

Off topic but if you can't get a credit or laser with your current bank, tell them you will be closing down your accounts with them the following week and that they won't get any more of your business.

Nehpets

I'm confused.

If we can't use the banks how can we put money into our accounts?

constitutionus

ya see this is the problem ive always had with the "cashless society". how the hell are you meant to pay off your credit/debit cards if no one touches money at all?

take first active again. the feckers are trying to get me to sign up for a credit card off them despite the fact they wont let me actually give them money to pay it off. it looks to me the only way to do so is to go to the post office and pay in cash for a postal order and then lodge that with First Active to pay off my credit card.

THATS ****ING MAD!! 3 bleeding transactions and charges to do them the favor of actually paying my bill. as you can guess i told them where to stick the fecking credit card. much as i loath bank of ireland at least the buggers will take my cash when i want to pay off the credit card they gave me :rolleyes:

antoinolachtnai

So you are paid in cash and have no choice about it?

constitutionus

yup shocking as it is to think alot of business in ireland is done with cash, particularly if you have your own business

antoinolachtnai

So do you not lodge the cash for safekeeping? How do you pay your VAT?

constitutionus

yup, through the bank!:D which brings us back to square one. how do you lodge money to pay your bills if the bank or anyone else wont take it? the problem with a cashless society is at some stage you actually must have something in your hand thats actually worth something, other wise someones just commiting fraud on a computer. all this cash didnt just appear, its tied to a physical substance. in the case of the USA , gold. the same with the UK. and all other currencies base themselves againts those in one form or another. technically speaking you should be able to go into the UK central bank and cash your fiver sterling in for a fivers worth of gold

vector

a bank is... at the end of the day... a business.

just like any other businesss, be it a furniture manafucturer, telephone operator, or newsagent, its primary goal is profit, indeed it is publically listed, and shareholders closely monitor its minute by minute profit levels.

now, in the past it had to deal in cash, but this requires many staff, and again, to generalise, the highest cost to most businesses is staff salaries, so the bank want to drop staff, and to switch people to online banking/laser cards.

the govt, agree, the increased profit levels of the bank increase its corporation tax intake, and the increased share price increase its 1% irish share tax.
indeed the govt are happy to say goodbye to cash, their eventual vision is for a cashless society where there can be very little tax evasion.

RainyDay

Dooom wrote:

Someone here had an idea a while back on another thread that involved the key or whatever openy-thingy for the safe to be distributed among several staff on a random basis. Therefore making getting the key a hell of a lot harder.

Made sense to me at the time anyway.

So what happens when the current keyholder gets a call from the manager telling him/her that the manager's wife & kids will get shot/stabbed/raped if the doesn't appear within 15 minutes?

sign

What really sickens me a lot is the totally unfair atm card stamp duty tax applied across the board to every account and to anyone who tries to be cashless with a laser card , atm card or credit card.

Its the most unfair tax going . One time it cleared out the remaining money in my bank account .
We are being ripped off often enough and then this tax arrives of which Im frankly surprised people are not up in arms about !!!

antoinolachtnai

Maybe it's totally unfair but it's been there for decades. It was originally a tax on transactions. There has been stamp on cheques for at least 50 years.

The problem I have with it is that it's a tax on competition in the banking market. It makes it very hard for new entrants.

The thing about cash is that it is pretty expensive to handle, for everyone, including the government to some extent.

This stuff about money in a bank account having to be matched by 'real' money or silver, or gold, or whatever, is pure bunkum. That's what the argentinians had, and look how they ended up.