whats going on with banks on 13th ave.

CHANY115

Sun, May 04 2008, 11:56 am

from where do people have money so the banks can make business on 13th avenue. all stores are closing the rents are high and only banks can afford them but the banks need r money to keep them going????

GAMZu

Sun, May 04 2008, 11:59 am

Yes, soon 13th ave will become just banks LOL

I imagine they get the $ from the businesses that can't afford to keep their shops on 13th. Wink

chocolate moose

Sun, May 04 2008, 1:33 pm

Are these banks that the locals use, or are they just cheap places for a commercial bank to keep its offices? If they loan money to build buildings, for example, they'll do just fine !

chaylizi

Sun, May 04 2008, 1:37 pm

they appear to be local branches & they are cropping up like weeds! there is a large population in bp- but there is a limit as to how much new business each new branch will garner. no one will be much disappointed if the new banks don't have enough business to stay though- unless it happens to be their bank.

Squash

Sun, May 04 2008, 1:46 pm

it's so weird that all these banks are putting so much money into rebuilding and decorating, etc. I also wonder if it's worth it for them.

my husband maintains that it is. he claims tons of business is done in bp daily and for sure these banks will be ok. I guess remains to be seen.....

YALT

Sun, May 04 2008, 1:55 pm

what do you mean? don't you find many frum ppl with checks bouncing? that's where they make their money! $60 each time one is bounced - $30 from the bouncer and $30 from the receiver of the check.

flowerpower

Sun, May 04 2008, 5:56 pm

I hate it, all the stores are disolving and more and more banks are taking over. why?!? I know they make money from the local store owners but why the need for that many?

Crayon210

Sun, May 04 2008, 5:58 pm

YALT wrote:

what do you mean? don't you find many frum ppl with checks bouncing? that's where they make their money! $60 each time one is bounced - $30 from the bouncer and $30 from the receiver of the check.

I think this is like saying the libraries make their money from overdue fines. It doesn't really make any sense.

GAMZu

Sun, May 04 2008, 7:32 pm

Oh, it does, make sense. It sure does. LOL

Crayon210

Sun, May 04 2008, 7:36 pm

Cents, maybe, but not sense.

GAMZu

Sun, May 04 2008, 7:42 pm

Oh, ha ha haaaa.....

How punny.

But seriously, they rely on those few people who pay enough fines to fund renovations or an extra branch to their building.

Crayon210

Sun, May 04 2008, 7:57 pm

GAMZu wrote:

But seriously, they rely on those few people who pay enough fines to fund renovations or an extra branch to their building.

Do you have a source for that? How many checks do you think are bounced daily?

GAMZu

Sun, May 04 2008, 8:05 pm

We are extremely careful, as we can't afford to have an overdraft fee. But every few months or so, we do run into mishaps and run up an almost $100 fine.

Banks have tens of thousands of customers, not all of which are as careful as we are.

No, I don't have a source. LOL

I am not that learned. Wink

Crayon210

Sun, May 04 2008, 8:08 pm

I just think that sounds silly. Confused

chocolate moose

Sun, May 04 2008, 8:09 pm

Certainlyh banks make money from fees! But bouncing checks aren't the only fees charged.

Mrs. XYZ

Sun, May 04 2008, 8:09 pm

I think they make their "bulk" from credit cards, balance transfers etc. not from bounced checks. People are using way less checks than they used to.

Crayon210

Sun, May 04 2008, 8:10 pm

I didn't say they don't make money; obviously they do.

But I don't think that the major source of income for a bank is from fees.

Crayon210

Sun, May 04 2008, 8:10 pm

Mrs. XYZ wrote:

I think they make their "bulk" from credit cards, balance transfers etc. not from bounced checks. People are using way less checks than they used to.

Exactly.

GAMZu

Sun, May 04 2008, 8:13 pm

Overdraft doesn't only happen from checks. It happens from withdrawing more than you have or using a debit card.

flowerpower

Sun, May 04 2008, 8:18 pm

they make money for checking and savings accounts too-theres a small charge for most banks on those