Problem
The traditional bank was always expensive to run - tellers, banks, cash, using checks and the transfer system that supports them etc. settlement times, settlement costs, settlement delays, bouncing cheques.
In a survey recently 60% of banks believe that this old system will disappear and is disappearing very fast in the UK. Does this mean that banks are making more money now that they have eliminated those costs or are we the customers paying less for our banking?
Will a move away from paper, coin and cheque reduce banking costs but increase retailer and end user costs?