Because banks’ primary customer is not Joe Everyman who works a 9-5. Their primary customers are other companies. Your checking account is barely even a drop in the bucket compared to the billion dollar company that has five hundred accounts set up for their various incomes and expenses.
But the reason there is a local bank branch in your neighborhood isn’t for that one business owner nextdoor to deposit their brief case of cash at 11am
Isn’t it, though? I mean this as a genuine question. The alternatives are to either buy a safe or to have tons of cash in your register at the end of every day, so I could honestly see banks getting plenty of business for this purpose, but maybe I’m wrong about that.
Because banks’ primary customer is not Joe Everyman who works a 9-5. Their primary customers are other companies. Your checking account is barely even a drop in the bucket compared to the billion dollar company that has five hundred accounts set up for their various incomes and expenses.
But the reason there is a local bank branch in your neighborhood isn’t for that one business owner nextdoor to deposit their brief case of cash at 11am
Isn’t it, though? I mean this as a genuine question. The alternatives are to either buy a safe or to have tons of cash in your register at the end of every day, so I could honestly see banks getting plenty of business for this purpose, but maybe I’m wrong about that.
I bank at a local credit union. It’s a very small operation with only a few branches.
They have the same hours.