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#1790683 - 03/01/13 07:05 PM management wants to start offering...
Anonymous
Unregistered

Passbook savings accounts! crazy

Are they insane? Do these dinosaurs even exist anymore?

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#1790693 - 03/01/13 07:21 PM Re: management wants to start offering... Anonymous
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
They do here.

I went my whole life and two financial institutions without seeing one until I started here.
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#1790701 - 03/01/13 07:30 PM Re: management wants to start offering... Anonymous
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,629
Cape Cod
Passbook savings does not make a lot of sense on an efficiency scale, particularly with the multiple ways in which savings accounts can be electronically accessed. However, in some parts of the country, and for banks with strong cultural customer demographics, passbooks may be a big draw for some groups.
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#1790716 - 03/01/13 07:44 PM Re: management wants to start offering... Anonymous
renniks Offline
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renniks
Joined: Sep 2003
Posts: 2,162
New England
My Bank has more passbook savings accounts than we have statement savings accounts. Our customers just love those passbooks!

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#1790717 - 03/01/13 07:47 PM Re: management wants to start offering... Anonymous
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,629
Cape Cod
What part of New England are you located in, Renniks?
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#1790729 - 03/01/13 07:59 PM Re: management wants to start offering... Anonymous
renniks Offline
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renniks
Joined: Sep 2003
Posts: 2,162
New England
Southeastern Massachusetts--very heavy Portuguese population

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#1790731 - 03/01/13 08:02 PM Re: management wants to start offering... renniks
Anonymous
Unregistered

Original anon- Alaska here. Are they popular up my way?

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#1790841 - 03/01/13 10:01 PM Re: management wants to start offering... Anonymous
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,478
Pulling people out of the ditc...
my bank offers to minors...but once they become of age, the goal is to convert them to statement...very gratifying for a young child to actuall partake in the savings process and have the details in their hot little hands
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#1791755 - 03/06/13 01:18 AM Re: management wants to start offering... Anonymous
el guapo Offline
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el guapo
Joined: Jul 2004
Posts: 345
We have always had and always will have passbook savings accounts, and we primarily do business on the West Coast.

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#1791756 - 03/06/13 01:24 AM Re: management wants to start offering... Anonymous
Anonymous
Unregistered

Yep... that's one of our most popular account types! We love 'em!

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#1792051 - 03/06/13 07:38 PM Re: management wants to start offering... Anonymous
West Coast Comp Offline
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West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
I have worked for only 1 institution that still has them which is also the only institution that I am aware of that has them in our area (Seattle). I had never even seen one until I worked there and havenít seen them since. I can understand why a bank may want to keep them (although they get more expensive to service every year), but I have no idea why a bank that doesn't have them would go through the huge expense to offer them. At least in my experience people aren't asking for them.
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