The people have spoken "Bricks not Clicks"® to open a new bank account!

62.5% would rather open a new bank account at the branch with a person!

The Deposit & GO InstaDebit® Terminal may be installed anywhere and everywhere!





The New York TImes

By Ed Shanahan and  Jeffery C. Mays

Jan. 23, 2020

The city’s Department of Consumer Affairs said last year that one in nine New York households did not have a bank account,

and that one in five were “underbanked,”

meaning they had a checking or savings account but relied on something other than a bank to cash a check.

Bronx households, the agency said, were around twice as likely not to have a bank account.

Growing up in a 'bank desert' has major costs

January 22, 2020

by Andrew Sorensen,University of Colorado at Boulder

People who are exposed to banks and other financial institutions as kids are more likely to be financially stable later in life, new research from CU Boulder's Leeds School of Business shows. People without that exposure can expect to face some serious costs.



Banks Close Branches in Half of U.S., Loss Worst in Rural Areas

Nov 25, 2019

Of the counties analyzed in the report, more than half lost bank branches between 2012 and 2017, with some predominantly rural counties

experiencing considerable declines. The deeply affected rural counties tended to be less economically well off and have residents with lower

levels of education. They also had a greater proportion of minority residents relative to other rural counties.

Much of the information in the report was gathered at listening sessions hosted by Federal Reserve Banks across the country between July 2018 and January 2019. The consumers, small business owners, and local government officials who participated in the sessions said that while they have found local or technological substitutes for many, but not all services, the alternativesare generally more costly and less convenient.

Other data and research presented in the report show that despite the increasing use of digital methods to access financial services, branches continue to be important for certain services, including resolving problems, submitting loan applications, and for deposits and withdrawals. The data also show that a majority of small businesses prefer to utilize local banks to access financial services, which may give them greater credit availability and more favorable credit terms. These businesses expressed concern that loan product costs and terms were not always transparent when accessing credit through online lenders.

The research reviewed also found that adoption of digital banking services has been more gradual among consumers who are older, have lower incomes or fewer years of formal education, or who live in rural areas. This lower adoption rate suggests that bank branch closures may present greater challenges for these individuals.

[The people have spoken! Brick not Clicks! Digital and mobile are NOT the answers!]


Why Remaining Demographic Agnostic Is Vital For Fintech In Payments Convergence

Shai Stern Forbes Councils Member

July 26, 2019

Despite mobile payments providers and credit cards, my mother and other members of the Silent Generation will continue to pay by check. Paper check remains the most common method of paying rent, even among millennials and Gen Z. Many medical bills, utility bills, taxes and nonprofit donations are also still made by check. On the business side, companies continue to pay vendors by check and accept check payments, alongside electronic methods.

Some financial technology (fintech) businesses have ignored check payments, focusing instead on card and mobile payment processing, and card companies that ignore cash and check are only touching a portion of payments. The most successful fintech providers are able to remain demographic agnostic and adapt to payments convergence by aligning their business to these three pillars: checks, Automated Clearing House/electronic and cards. To ensure these pillars function together, fintech companies should consider both integrated receivables and integrated payables to assist with all aspects of a payment from start to finish.


The Federal Reserve Payments Study: 2018 Annual Supplement

Check use up 7.5%

Debit card use up 10.4%

Prepaid up 10.5% which makes you ask...

Wouldn’t Debit be up 21.1% if people had access to a basic bank account?

INSTEAD of EXPENSIVE prepaid cards that were a grass roots payment solution BECAUSE

there wasn’t any other choice AND Deposit & GO wasn’t available at time of study...

This brief provides 2017 national estimates and 2016 to 2017 growth rates for card payments. These estimates are based on survey data from a census of general-purpose card networks, payment processors, and issuers of private-label cards. The surveys covered four types of debit cards (non-prepaid, general-purpose prepaid, private-label prepaid, and electronic benefits transfer (EBT) supporting certain government assistance programs) and two types of credit cards (general purpose and private label).

This brief also provides new estimates of 2016 to 2017 growth rates for ACH and check payments as well as ATM withdrawals.

Click here to load the PDF.


Why We Still Need Bank Branches!

By Chris Skinner
December 1, 2017

One, it supports a community and specifically the business community in the area. Businesses have different needs to consumers, and do often need access to a human. People forget that.

Two, money isn't the same as a Facebook update. If you lose a post saying what a nice time you're having, it's not the same as losing a deposit of $10,000. In fact, I often state that if you woke up today and find your bank app confirms the balance you expected, then you're happy. But how do you feel if the balance is -$10,000 short of what you expected? You're just going to sit and ignore it? Of course not – you'll call the bank or go to the branch to eyeball someone. This is because money is different; it's far more emotional than other parts of our life, because it's the controlling factor in our lives.

Read More

Raddon Reseach (a FiServ Company)

August 30, 2017

Mobile Bankers STILL want Branch Convenience!

The #1 Reason People Select a Financial Institution is Because of BRANCH Convenience!

78% of Mobile Bankers Live Near a Branch that's Convenient!

Mobile Banking Creates "Stickiness" Even if the Person Moves!


Find Out More. Watch the Video!

Bank Branches: Is The Writing On The Wall?

June 22, 2017

[Or... Mobile Bankings Rush to Fill the Bank Desert Void? Not so Fast! At Least Here in Traditional America...]

In a counter to sluggish interest rates, ever more complicated and taxing compliance regulation, and a weakened consumer market segment, bank executives across North America and Europe are taking the ax to "superfluous" brick-and-mortar bank branches. And while macro-economic factors, most of which represent the residue of the 2008 financial crisis, certainly led banks to water, a meaningful transition to digital channels requires a critical mass of customers willing to migrate to mobile or desktop banking in lieu of more traditional means.

Facts On The Ground

The last few years have bore witness to a somewhat jarring pace of bank branch closures, and the process has morphed from 'pruning' excess to deep cuts in infrastructure. Since 2012, JPMorgan Chase has trimmed national network coverage by 9 percent, while Bank of America has pursued a more aggressive strategy, shuttering the equivalent of 15 percent of its brick-and-mortar posts.

Read More

Banks could lose 60% of retail profit to tech startups: study

Globe & Mail
March 25, 2017 September 29, 2015

Banks could lose up to 60 per cent of their retail profits to nimble fintech firms within the next decade, according to global consultancy McKinsey & Co., offering a particularly alarming outlook as new financial technology players nibble away at some of the more vulnerable areas of traditional banking.

Read More

Adults Don't Use Mobile Banking

While mobile banking app use took off in 2015, with member adoption of credit union apps growing by 35 percent on average, nearly 88 percent of U.S. adults did not use mobile banking because they felt their needs were being met without it.1

1 Source:

Bank Failures Since 2009

There are bank closures... and then to make matters worse... there are bank failures...

number of bank failures since 2009


Year Bank failure cost to DIF Number of bank failures
Total: 491
2016 (estimated) $9.6 million 1
2015 (estimated) $894 million 8
2014 (estimated) $398.8 million 18
2013 (estimated) $1.165 billion 24
2012 (estimated) $2.785 billion 51
2011 (official) $7.945 billion 92
2010 (official) $22.904 billion 157
2009 (official) $38.732 billion 140


Payment Journal

August 23, 2016

Trend is consistent with Mercator Advisory Group Banking Channels research, which has found that customers and members strongly desire the option of having face-to-face contact at a branch -- when and where desired. This access to subject matter experts, even if only agree occasionally, can be an important driver of customer satisfaction and increased product deepending and long-term loyalty.

Bank executives argue, however, that branches remain crucial for acquiring new customers and doing more business with new ones. Closures, they say, would hurt revenue more than help reduce costs.

“Our customers still want to visit us,” Jonathan Velline, Wells Fargo's head of ATM and store strategy, told Reuters in an interview. “They're still coming to our stores and our ATMs at pretty consistent rates.”

Washington Post: Say goodbye to your neighborhood bank branch

Former Barclays chief executive Antony Jenkins laid it out in particularly stark terms in a speech last fall: The global industry, under pressure to meet customer demands for automation and cheaper services, will slash employment and branches by 20 percent to 50 percent over the next decade, he estimated.

“I have no doubt that the financial industry will face a series of Uber moments,” he said in the late-November speech in London, referring to the way that Uber and other ride-hailing companies have rapidly unsettled the taxi industry.

And that's not just the opinion of one well-informed man.

Francisco Gonzalez, CEO of BBVA Bank, said about “In 10 years, only 100 banks will have survived the digital wave.

Realize these figures and representations are indicative of the "banked market" who have the education and unlimited access to online banking technology and therefore need not frequent a bank branch as a "bank challenged" person would have the need to. As proof of that, Check Cashers "thrive" in "Bank Desert" regions. Growing at a rate of 11% in 2014.

Life in a Banking Desert

Without access to basic financial services, poor and minority communities are more likely to use dangerous, high-cost options.

Mar 2016

A neighborhood saturated with fast-food restaurants and bodegas but lacking a grocery store would make it difficult to stick to a healthy diet. It would be similarly hard to manage finances and build wealth without a bank branch nearby. Unfortunately, that is exactly what an increasing percentage of U.S. households are being told to do: manage their finances and build wealth without access to a nearby mainstream bank branch.

Read More



Biz Journal: More than 1,600 bank branch closures in the U.S. last year

Overall, there are 1,614 fewer bank branches in the United States today than there were a year earlier [2015]. Banking companies of all sizes continue to close offices as more consumers turn to digital banking and as a means to trim expenses. [Note many low income people do not have access to the digital world. They may be older, not trained or, according to AARP studies, just not be able to afford PC's, lap tops and smart phones. Having said that, to be fair and balanced, we have witnessed many homeless people with state of the art smart phones!]


Wall Street Journal: The number of U.S. bank branches has fallen to the lowest level since 2005

The number of branches in the U.S. dropped to 94,725 as of June 30, [2014], down 1,614, or 1.7%, from a year earlier and down 4,825 from the peak in 2009, according to the FDIC data.



NY Times: Criticism Grows as Check-Cashing Stores Expand in Poorer Areas

By WINNIE HU AUG. 5, 2012

Many of New York City's poorest residents do not have bank accounts, so these window transactions, repeated hundreds of times every day, are their primary contact with the financial system. Check cashers are as familiar to them as corner bodegas, and as reliable.

But an industry built on mutual convenience has come under increased scrutiny over the past decade as its stores have continued to become full financial centers, improving services like electronic bill payment, wire transfers and prepaid debit cards.

The expansion has spurred renewed criticism from advocates for poor residents and from bank officials, who say the check-cashing industry takes advantage of those who have no other options, and it has prompted more calls for consumer protections. Many of the industry's leaders say that they have been unfairly tarnished, that they provide needed services and that they are making improvements to their operations.