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Barclays Reveals Near Self Service Branch - Job Cuts Loom?

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Meet the bank branch of the future: No cashiers, no counters, just computers and 'money machines' - but on the upside, there are no queues
article-2709986-201C33A300000578-203_636

A branch of Barclays, in Central London, has been revamped. You can't see any counters. There are no cashiers. And there isn't a queue. This branch of Barclays has been open for three months and it's what the bank believes all its 1,600 outposts will look like in the future.

Not sure if the bottom right picture is an ironic joke, but with no counter staff etc Barclays could reduce head count significantly.

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There will be no customers either :lol:

These big businesses just doint get it do they....people want to people to help them.

My ING account was transferred over to Barclays last week. I've just closed it. I have no interest in dealing with a foreign call center.

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Our Barclays in Kingston is now 'self service'. I was really hacked off when they closed a smaller local branch a year or so ago. First time I went into the SS branch to pay a cheque in I couldn't believe what they'd done to it. I am perfectly capable of using SS but I made the 'helper' do it on a sort of point of principle.

The only thing that keeps me with Barclays (apart from all the faff of moving) is that their telephone banking service is excellent. Yesterday I used it to make a payment I could easily have done online, but it was less faff by phone.

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An older relative was finding it difficult to sort a problem with her account in her local Barclays branch the other week. Different layout inside and only 1 person on at the counter, with advisors about, who I suspected were trying to sell products or bolt-ons. And there's some rumour the branch is set to close. She's going to have to get used to online banking.

Don't they have results out today? I got this from Times, on Monday or Tuesday. (attachment)

barclays_july14.JPG

post-12306-0-94620600-1406703288_thumb.jpg

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They won't be completely cashierless I'm sure. At least one real live human will be required to sort out the little computer gremlins. I always have a little laugh to myself seeing the obligatory elderly person withdrawing money via the cashier. Family members are going to have to step up to the mark & train their elders in the mysterious ways of online banking. Any front line bank employee who couldn't see this coming was being a tad naive. It'll be at trickle speed, however the job losses will still be considerable. I count roughly 10 visible bank employees in my local Barclays.

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HSBC are doing the same I went into the branch in perth and it was all machines with a person to help old people. I closed the account. Progress and tehcnological development is inevitable but considering the amount of my money they have or deal with least they could do is let me speak to a person. I feel its insulting.

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Great, the sooner there is no mystique left of having an ipressive looking bank and it all goes virtual the sooner we will be rid of these giant crooked institutions as there will be far less friction to move to other outfits.

Think Tesco and Aldi.

Edit: All it really needs to get the process going is the introduction of adiitional bank charges, these are already piss-taking institutions thanks to the rigged interest rate market and colusion between them - noticeable particularly in the cash ISA market where they basically just steal any tax savings

Edited by onlyme2

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There will be no customers either :lol:

These big businesses just doint get it do they....people want to people to help them.

My ING account was transferred over to Barclays last week. I've just closed it. I have no interest in dealing with a foreign call center.

IS it a foreign call centre? To be strictly fair have always spoken to a Brit when I've phoned Barclays, and I have to say they always answer quickly and are very helpful and efficient. To some extent it does make up for extreme irritation with closing and mucking about with branches.

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Barclays profits down 7 percent as investment bank income sags

LONDON - Barclays Plc said underlying profits fell 7 percent in the first six months of this year after a drop in investment bank revenue as the British bank attempts to streamline the business and reform culture.

What they mean is that they are no longer reporting fictitious profits from financial instruments

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There is a problem with this model. A Santander account of mine was recently flagged for suspected fraud (I was buying bitcoins). Santander 'protected' me by locking me out of my online banking without telling me why and gave me a number to call. I did that and went through the security questions, and was told I needed to call a second number. I called the second number and went through security to finally be told I needed to go into a branch with my passport for identity verification (phone verification was not enough). In branch, I waited to see a human who verified my identity by looking at the passport and I finally had my account unlocked.

When trust fails online, and over the phone, they still require face-to-face identity verification. I don't see a model for getting round that, and If a bank started suggesting I needed to travel a considerable distance to do that, then that account would close.

Q

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There is a problem with this model. A Santander account of mine was recently flagged for suspected fraud (I was buying bitcoins). Santander 'protected' me by locking me out of my online banking without telling me why and gave me a number to call. I did that and went through the security questions, and was told I needed to call a second number. I called the second number and went through security to finally be told I needed to go into a branch with my passport for identity verification (phone verification was not enough). In branch, I waited to see a human who verified my identity by looking at the passport and I finally had my account unlocked.

When trust fails online, and over the phone, they still require face-to-face identity verification. I don't see a model for getting round that, and If a bank started suggesting I needed to travel a considerable distance to do that, then that account would close.

Q

Fingerprint or retinal scan....

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There is a problem with this model. A Santander account of mine was recently flagged for suspected fraud (I was buying bitcoins). Santander 'protected' me by locking me out of my online banking without telling me why and gave me a number to call. I did that and went through the security questions, and was told I needed to call a second number. I called the second number and went through security to finally be told I needed to go into a branch with my passport for identity verification (phone verification was not enough). In branch, I waited to see a human who verified my identity by looking at the passport and I finally had my account unlocked.

When trust fails online, and over the phone, they still require face-to-face identity verification. I don't see a model for getting round that, and If a bank started suggesting I needed to travel a considerable distance to do that, then that account would close.

Q

How would one go about closing an account when it's flagged as having fraudulent transactions and is locked, without first unlocking the account (which would require travelleing to wherever they say you need to travel to)?

Though I agree with the sentiment, the underlying problem here is that the banks always have the upper hand (by design) - when you deposit money it's at their discretion where, when and how they give it back to you (and what it's used for in the interim)....?

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When trust fails online, and over the phone, they still require face-to-face identity verification. I don't see a model for getting round that, and If a bank started suggesting I needed to travel a considerable distance to do that, then that account would close.

Q

So which bank would you move to? If banks do increase profits by cutting back counter staff, then they will do it, all of them.

I only ever go into a branch to pay in a cheque, which is through a machine. The last time I spoke to a person in a branch was to withdraw GBP 1000, which must have been 6 years ago.

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So which bank would you move to? If banks do increase profits by cutting back counter staff, then they will do it, all of them.

Of course - standard automation like any other industry.

If there is any real call for traditional counter-lead branches, one of the banks will preserve them and make them a selling point - as Natwest did a decade ago by keeping all of their contact centres onshore. The thing is though, a huge branch network with staff to mollycoddle you is expensive, so you can expect to pay a monthly fee for your account there? Do you value counter services that much?

I'm happy with the branch service at my bank (HSBC). There are people there to answer questions if I need them, but shorter queues if I don't thanks to a variety of self service machines. I'd be really happy of they could make this available on extended opening hours that suit my lifestyle, as 9-5 doesn't.

People didn't pump their own petrol years ago, a pump attendant did. Now you do, and you can pay at the pump so you font need to wait for a cashier. Some 'enraged of Tunbridge Wells' types may hate banking moving in the same direction, but it is inevitable. Those same people would probably go to Tesco for their petrol to save 50p even I'd the independent garage over the road had a uniformed pump attendant, and will probably continue to bank at whichever bank gives them the best rates regardless of how their branches are set up.

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So which bank would you move to? If banks do increase profits by cutting back counter staff, then they will do it, all of them.

Of course - standard automation like any other industry.

If there is any real call for traditional counter-lead branches, one of the banks will preserve them and make them a selling point - as Natwest did a decade ago by keeping all of their contact centres onshore. The thing is though, a huge branch network with staff to mollycoddle you is expensive, so you can expect to pay a monthly fee for your account there? Do you value counter services that much?

I'm happy with the branch service at my bank (HSBC). There are people there to answer questions if I need them, but shorter queues if I don't thanks to a variety of self service machines. I'd be really happy of they could make this available on extended opening hours that suit my lifestyle, as 9-5 doesn't.

People didn't pump their own petrol years ago, a pump attendant did. Now you do, and you can pay at the pump so you font need to wait for a cashier. Some 'enraged of Tunbridge Wells' types may hate banking moving in the same direction, but it is inevitable. Those same people would probably go to Tesco for their petrol to save 50p even if the independent garage over the road had a uniformed pump attendant, and will probably continue to bank at whichever bank gives them the best rates regardless of how their branches are set up.

Edited by disenfranchised

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In 5 years time, the second generation of this branch will be this - so you might as well keep your money under your own.

bedroom-designs-daylighting.jpg

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No not all about job cuts as people are still required to count money in and out at the moment....more like pay people behind the scenes less...less people earning less to do the same but faster. ;)

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I'm not sure the banks have fully grasped the implications of commoditizing themselves to this degree- after all Tesco already do banking.

But I guess the one virtue of the branches was the opportunity to defraud sell to your depositor base- and that's becoming problematic since even the supine regulators have been forced by the sheer volume of corruption to do something about it.

So if you can't use your branch network to run the long con on you customers then what good are they to the modern financial crook?

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People didn't pump their own petrol years ago, a pump attendant did. Now you do, and you can pay at the pump so you font need to wait for a cashier.

Whereas, over here, we still have people to pump petrol for us, and to deal with stuff in the banks. It's not like paying someone $10 an hour to put petrol in your car when its forty below zero adds much to the cost of fuel.

The only place I can think of that doesn't have petrol pump attendants is the supermarket, where the fuel is a loss-leader for them.

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