Well, this should be interesting. No tellers at select branches. Wait till customers have to sit for an hour waiting for a banker, just to do a simple transaction that exceeds online and Atm limits.
14 replies (most recent on top)
This is why In the Bay Area Fremont Bank is flourishing, they are very down to earth and take pride in treating every customer like a family friend. Atleast, in my experience banks that are community based are always 100x better at treating their clients like humans instead of WF and other large banks.
As a HUMAN, I want to interact with other HUMANS! This need for HUMAN interaction is amplified when there is an issue related to a MONEY transaction or my bank.
I despise bots, automated select from a defined set of issues you GET to HAVE because no contact information is available to discuss MY transaction - example every call center front action.
Seriously HATE automation.
Next thing you know Chuckie will outsource all the teller jobs to India. Destroying Wells Fargo one job at a time
There are lots of small towns around the country where people still go into the bank just to deposit a check or take out cash in small denominations. They enjoy the face to face interaction.
This move is indication WF has no interest in maintaining branches in small town America because they thing (wrongly) there aren't affluent customers in those areas. People will go to a community bank before going to a bank that has no people there to serve them.
I was asked by the Telephone Robot to go to the bank to change my ATM PIN that I forgot along with the actual debit card. Like which century are we in? BOA Chase all are miles ahead. Wells Fargo?
“For your security, we can't change your PIN if you're unable to first enter your current PIN. Please call 1-800-869-3557 or visit a Wells Fargo branch near you for assistance - and be sure to have your debit card and account number with you.”
Now if you do not have someone to talk to and explain, what will happen?
He said it once, he wants us to be an investment bank competing against Chase and Goldman.
went a non WF bank today and they didn't have tellers at all, they had a machine with the teller on video. there were a few bankers in the branch to deal with non teller type things like loans and new accounts but the everyday transaction was an ATM with zoom installed.
"merchants use branches..... lots of other groups, companies, clubs use branches!
lot's of people use branches for transactions that cannot be done online. How do you thing your grandma gets that crisp $100 bill for your xmas gift....but sounds like you deserve a piece of coal.... "
um, sort of. Last year we went to the branch to get crisp bills for tipping and gifts. They didn't have any. sigh
at the very least, the branch is where my wf benefit safety deposit box is located........ butdon't know for how long.
I submitted a loudspeaker for consideration. I asked that we put wave terminals out and as people enter the bank they can submit a jira request. The tellers/bankers/whatever called now would then work off their kanban board. This will truly move us into the 23rd century and miles ahead of our competition as the entire bank will be considered agile. #revolutionary
@bzk+1mzRIiqL right? Chucky refers to the bank as "firm" WTF?
Headline: Charlie Scharf is the Bank CEO Who Does Not Want His Bank to be in the Banking Business
- Doesn’t like home mortgages
- Doesn’t like student loans
- Doesn’t like auto loans
- Doesn’t want to pay interest on customer cash
- Doesn’t like U.S. bank employees
- Doesn’t like Corporate Trust business
- Doesn’t like Ultra high net worth business
- Now he doesn’t like tellers ?? 😏
Sounds like a 'Perfect World' solution to an 'Imperfect World' need. Good Luck with that craziness.
@gcg+1mzRIiqL really dude?
merchants use branches..... lots of other groups, companies, clubs use branches!
lot's of people use branches for transactions that cannot be done online. How do you thing your grandma gets that crisp $100 bill for your xmas gift....but sounds like you deserve a piece of coal....
What customers are using branches, and why?
Nowadays, a branch is for unusual things, like getting a large cashier's check for a mortgage down payment.
I imagine the only traffic left are migrant workers (or equivalent) cashing their paycheck since direct deposit isn't an option for them, and old people.
Migrant workers and old people aren't on Charlie's list of customer segments to improve on. Quite the opposite. This is Wells telling what they see as the marginal types to make other arrangements for their outdated, unprofitable transactions.