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#140367 - 12/17/03 06:00 PM Mobile Banking
KK Offline
100 Club
KK
Joined: Jan 2002
Posts: 249
Southern California
Anyone doing mobile banking? I would love to pick your brain.

KK

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General Discussion
#140368 - 12/17/03 06:44 PM Re: Mobile Banking
jcrump Offline
Member
jcrump
Joined: Aug 2002
Posts: 88
Texas
We are considering the same. I have called one other bank that I know is doing it, but haven't gotten a call back from them. I would love to pick someone's brain as well.

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#140369 - 12/17/03 06:50 PM Re: Mobile Banking
Al Miller Offline
Diamond Poster
Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
Re: Mobile Banking

Yes, we do. I'm not sure my brain can stand the strain of being picked on, but pick away (everybody else seems to be doing it already).

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Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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#140370 - 12/17/03 07:02 PM Re: Mobile Banking
KK Offline
100 Club
KK
Joined: Jan 2002
Posts: 249
Southern California
Al,

Perhaps I can stimulate your brain with the offer of some of our wine?

I have a lengthy list of questions including the pilfering of checklists for site locations, security issues, etc.

KK

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#140371 - 12/17/03 07:07 PM Re: Mobile Banking
jcrump Offline
Member
jcrump
Joined: Aug 2002
Posts: 88
Texas
The way that I understand it, is that you must apply to the regulators to open a "branch", just as you would a brick and mortar. You have to indicate the area(s) in which you will operate and make sure that you cover those areas in your CRA assessment area, right? Our initial thought was to simply go pick up deposits at several locations that are just outside our assessment area, NOT to have a branch that was "open" beyond our other branch hours. Would that be a messenger service rather than a mobile branch? Do these same rules apply?

How long has your bank been Mobile Banking and what is the primary use (courier/messenger, extended hours/locations, etc.)?

I posted earlier this week and got a link to the OCC website. I am FDIC, and it was helpful in that I got the info above, but I have many other questions.

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#140372 - 12/30/03 08:12 PM Re: Mobile Banking
lhoerth Offline
New Poster
lhoerth
Joined: Dec 2003
Posts: 3
WI, USA
This concept sounds very interesting. I'd like to get as much info. as possible on this.

I had heard of a bank that set up a trailer each day at the site of their new branch during construction. It sounded like a bit of a nightmare!

But, what I am interested in is more of the messenger service, with the possibility of providing more services than just an armored car service. Where can I find information regarding this?

And, to those of you doing this, what were your primary reasons for establishing it, and how is it working out?

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#140373 - 12/30/03 09:03 PM Re: Mobile Banking
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,421
Florida
Many of the larger banks have them, not so much as mobile branches but to use at events, e.g. fairs, etc. (rolling ATM's).

A bank I had worked for had one and used it right after Hurricane Andrew to assist customers when the regular branch blew away. With the on-board generators and satelite communications it did make a difference in many people's lives, as they were distributing cash and making loans the day after the storm. I don't have any details about the chartering though.
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