Old school banking is on the way out. With the advent of banking, touch free payment and digital currencies like bitcoin, it won’t be too long before High Street banks are a thing of the past. Here are just 10 of the things that we won\u2019t miss about them\u2026 [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
5 minutes feels like an hour when you\u2019re queuing at the bank. Standing among a long line of people who, like you, don\u2019t really want to be there, your misery only intensifies as the toddler behind you ramps up his tantrum. By the time you reach the front of the queue, you’ve heard so much of Stacy-at-the-back’s phone conversation that you’re beginning to believe that she did deserve that slap in the club last night. [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
Most bank are open Monday-Friday from 9-5, which just so happens to be the time that anyone who earns any money is at work. This means rushing across town on your lunch break and standing in a 30-minute line with 100 other customers just to cash Grandma’s \u00a320 birthday cheque. With hardly any banks open on Sundays, and for only a few hours on Saturday morning,\u00a0there goes your weekend lie in. [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
Because trekking from North-West London to the South-East of the city while waiting for your bank to register a new address will take up your whole day. [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
Want to put money into your account? “Fill out this form”. Taking money out? “Just hold on while we fill out this form for you, then you can fill this form in too”. Argh! [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
If you’ve manage to scrimp and save up some money \u2013 well done! But you may as well not bother keeping it in the bank. For the past few years High Street Banks’ savings rates have been abysmal \u2013 often not even beating the rate of inflation. You\u00a0could be better off keeping your cash under the mattress… [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
Banks are experts at hiding all the little extra charges that you don\u2019t even realise you\u2019re paying. We all know about the 0% commission myth, but then there are your overdraft charges, credit card charges, administrative fees, currency transaction charges and a plethora of others. [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
It\u2019s safe to say that no one enjoys receiving a paper statement from their bank. There it is, in black and white, all your debt, your impulse purchases and, oh yes, your personal details. You can\u2019t simply throw it out for fear an identity thief may be looting through your bins. So, every month is a case of; receive bank statement, read bank statement, hate bank statement, shred bank statement. [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
Make no mistake, banks are after your money \u2013 as much of it as they can get. If you pop in to make a quick deposit, you\u2019d be lucky to get away without hearing a spiel about their latest \u2018amazing\u2019 credit card deal or a \u2018can\u2019t miss\u2019 mortgage rate. [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
There\u2019s nothing like a trip to the bank to make you feel desperately poor and simultaneously afraid that all the other customers are plotting to steal your money. Scoping out the other people in the queue you decide that they\u2019re all definitely depositing thousands of pounds while you\u00a0are there to make (yet another) withdrawal. You then lower your voice when you reach the teller, just in case any eavesdroppers are planning to rob you. [\/spb_text_block] [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”]\n
When was the last time you heard music in a bank? Exactly. With the exception of screaming children, irate customers and mouthy tellers, banks are some of the most eerily quiet places on the High Street.\u00a0All the better to worry about eavesdroppers, and listen to the seconds of your life tick by slowly. [\/spb_text_block]\n","protected":false},"excerpt":{"rendered":"
Old school banking is on the way out. With the advent of banking, touch free payment and digital currencies like bitcoin, it won’t be too long before High Street banks are a thing of the past. Here are just 10 of the things that we won\u2019t miss about them\u2026 [blank_spacer height=”30px” width=”1\/1″ el_position=”first last”] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”1\/1″ el_position=”first last”] […]<\/p>\n","protected":false},"author":10,"featured_media":5999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/5136"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=5136"}],"version-history":[{"count":8,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/5136\/revisions"}],"predecessor-version":[{"id":5148,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/5136\/revisions\/5148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media\/5999"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=5136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=5136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=5136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}