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Why do banks continue to build so many new brick-and-mortar branches?


In a world where online banks offer higher interest rates on deposits and more convenience, why do banks continue to build so many new brick-and-mortar branches? Are there that many new customers?

 

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LandmarkWealth profile image86

LandmarkWealth says

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4 years ago
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  • pitzele profile image

    pitzele 4 years ago

    Precisely. The online presence is nice, but tends to be geared to an existing customer base for simple issues, such as cash-based transactions, loan apps, etc. Closing a loan or investment/insurance conversations usually require face to face.

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Donna Brown (cygnetbrown) says

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4 years ago
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philli says

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4 years ago
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pitzele profile image75

pitzele says

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    Dianna Mendez (teaches12345) 4 years ago

    I wander if it also helps with their tax or investment portfolio to build bank branches each year.

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alloporus says

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4 years ago
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