This reminds me of the RBI roll-out with MoRAN, allowing multiple carriers to utilise the same equipment and real estate. Good idea I say!

Something similar is being trialled here 

"The banks participating in the regional banking hubs trial are ANZ, ASB, BNZ, Kiwibank, TSB and Westpac."

"The four new hubs will have a Smart ATM and full cash change services, a full-time dedicated concierge, an employee from each bank available on site for a few hours on separate weekdays, a private meeting room, and private areas for phone and internet banking."

https://www.nzba.org.nz/2022/08/05/banks-expand-regional-banking-hubs-trial/

I reckon its been more than 5 years since I last used an ATM and over 8 years since I've been inside a bank branch. I get the elderly etc.... but I just don't understand why anyone needs a physical bank branch these days?

Senecio:

 

I reckon its been more than 5 years since I last used an ATM and over 8 years since I've been inside a bank branch. I get the elderly etc.... but I just don't understand why anyone needs a physical bank branch these days?

 

Some things still need personal attention, for example opening an account with a bank you haven't dealt with before (or not since 2004).
There's a lot of forms that must be filled in & document copies that must be sighted that I certainly wouldn't wouldn't entrust to email

Senecio:

 

[snip] but I just don't understand why anyone needs a physical bank branch these days?

 

Yeah - anyone who takes up a new service with a new bank (including those staff members of large corporates who get new corporate credit cards etc) will need to be physically AMLed. 

ID and Proof of address checked etc. All needs to be done in-branch, or by a bank staffer somewhere. A hub is a good idea for this kind of thing. 

Other than that - I agree...I work for a bank and very rarely go into a branch. 

When I emigrated to NZ from Ireland I had an NZ bank account opened 5 months before I arrived and had already started to transfer cash into it from both Irish and Australian banks. All done over the phone and internet. And I don't understand the need to show up in person these days for document verification. There are so many tools available to digitally confirm a person's identify.

Senecio:

 

When I emigrated to NZ from Ireland I had an NZ bank account opened 5 months before I arrived and had already started to transfer cash into it from both Irish and Australian banks. All done over the phone and internet. And I don't understand the need to show up in person these days for document verification. There are so many tools available to digitally confirm a person's identify.

 

I suspect you arrived before the whole AML shemozzle was dumped on any transaction bigger than buying a toaster.. 

Senecio:

 

I reckon its been more than 5 years since I last used an ATM and over 8 years since I've been inside a bank branch. I get the elderly etc.... but I just don't understand why anyone needs a physical bank branch these days?

 

Some require it. eg Westpac requires you to go into a branch to change a pin on an eftpos card. It is a huge hassle if you don't live near one and can't get there during the limited hours they are open. 

Senecio:

 

I reckon its been more than 5 years since I last used an ATM and over 8 years since I've been inside a bank branch. I get the elderly etc.... but I just don't understand why anyone needs a physical bank branch these days?

 

I agree it's probably been well over six years since I last set foot in a bank.  Haven't used an ATM since pre-pandemic when cash wasn't recommended - and ATM's generally being pretty icky.

I'm in favour of a banking hub which supports basic services particularly for the elderly.  I've experienced the dilemma of a 92 year old who we tried to find solutions for but has since passed away.  He never had a phone (or by extension obviously the net) and only had a credit card for travel.  He told me how problematic life became after cheques ended with trying to pay anyone.  The simple act of paying for a tradie was made worse by his bank saying they could no longer deposit money into another account on his behalf.  Obviously with PostShops closing there were a range of services he couldn't pay for over the counter with EFTPOS either.

Senecio:

 

I reckon its been more than 5 years since I last used an ATM and over 8 years since I've been inside a bank branch. I get the elderly etc.... but I just don't understand why anyone needs a physical bank branch these days?

 

Last visit was to get a replacement card that I had lost 6 months earlier, and get cash out to buy a car since the ATM only goes to $2000 and I didn't pre-plan to split it over days.

ATM is only when I am buying something off marketplace or trademe and picking up.

They came to us to talk mortgage, I can email them to talk investment if I want that.

mattwnz:

 

Some require it. eg Westpac requires you to go into a branch to change a pin on an eftpos card. It is a huge hassle if you don't live near one and can't get there during the limited hours they are open. 

 

I went for about 2 years not using a debit card because of that, and when I went in to do it finally so I could buy some things online with it rather than just using the eftpos card on the account, the chip had died and they had to issue a new one, which I had to have delivered and then go back once it arrived. 

Would never use them by choice, one of the lowest customer service banks ever.

PolicyGuy:

 

Senecio:

 

I reckon its been more than 5 years since I last used an ATM and over 8 years since I've been inside a bank branch. I get the elderly etc.... but I just don't understand why anyone needs a physical bank branch these days?

 

 

Some things still need personal attention, for example opening an account with a bank you haven't dealt with before (or not since 2004).
There's a lot of forms that must be filled in & document copies that must be sighted that I certainly wouldn't wouldn't entrust to email

 

I opened a TSB debit account in Sept 2021.

All done online.

Pin for card was activated on first visit to an ATM.

Senecio:

 

I reckon its been more than 5 years since I last used an ATM and over 8 years since I've been inside a bank branch. I get the elderly etc.... but I just don't understand why anyone needs a physical bank branch these days?

 

I thought the same as well and work on digital ID for banks , recent use cases for branch use in last year for me. To make it more fun this is the biggest bank in NZ and only opens 3 days a week. Most of these examples below I had to make an appointment 

Debit card replacement

scanning court docs for incapacitated family member

ID docs for my daughter for AMLCFT even though provided when account was opened 

revist to branch when they lost the documents and didn’t scan

around 6 vists to branch to set up payments for family member as contact centre don’t understand court issued docs and refused to do it over the phone 

death certificate 

lawyers docs to set up estate account

Visit to sign form to transfer estate funds to the trust

follow up visit to revalidate will and that I am an executor

wellygary:

Senecio:

When I emigrated to NZ from Ireland I had an NZ bank account opened 5 months before I arrived and had already started to transfer cash into it from both Irish and Australian banks. All done over the phone and internet. And I don't understand the need to show up in person these days for document verification. There are so many tools available to digitally confirm a person's identify.

I suspect you arrived before the whole AML shemozzle was dumped on any transaction bigger than buying a toaster..