banking


 * Banking & Finance**

5 September 2006 A high-street bank is to close three branches in Cornwall and five in Devon.**
 * Eight towns to lose bank branches

The branches are to close in St Just, Gunnislake and Tintagel in Cornwall; and Bere Alston, Chudleigh, Princetown, Winkleigh and Buckfastleigh in Devon. This is a result of more customers using the phone and internet banking, instead of actually going to the branches. It is costing more money to keep open the branches if they are not being used.

Information Technology has had an impact on the reasons why so many branches are being closed because it is becoming so advanced, and more people are learning how to use and adapt to it.

The effects on customers will vary because all ages, except children, use banks. Elderly people may not be familiar with computers, the internet, etc and will therefore suffer from not being able to easily adapt to online banking. This means they will have to spend more time, and money, travelling to the nearest bank - which could be quite far away. For people who prefer online banking it will be better for them because as the branches are closing down the banks can spend more time making their online system better, more secure, etc which makes it more convenient to bank online. Some of the other problems could be that it becomes more unreliable to bank online due to things such as internet connections - sometimes they fail, aren't strong enough and this then results in loss of information, transactions may not get sent through, etc. Also the safety of your information is not that strong since it is out on the internet and it is possible for it to get hacked.
 * Customers**

As the branches are being closed it means less employees are needed because there is not a branch for them to work within. People will not be happy with the loss of jobs because, as many customers will agree, not all branches should be closed. This could mean a good redundancy package but that is also highly unlikely.
 * Employees**

This could be a problem for employers as they will need to get rid of employees, whether they choose a few, or get rid of a lot of them. Since online banking is becoming more popular they will need to employ different types of people who can run, manage and repair the internet sites, and anything else related to the online / telephone banking. The problem for finding employees who want to work in the banking branches will be that people will find the company slightly unreliable in relation to when the branch may close, therefore meaning they would lose their job.
 * Employers**

//"It all started when my dad was born and he went to buy me lunch" - Hassan//
 * __BANKING- Then and now.__**
 * __Then__**

Banks these days are there to provide a safe place for their customers’ money and to lend money to business and customers. Banks are in business to make a profit. Their profit generally comes from the difference in interest paid to depositors and the interest earned on loans. Making loans helps banks make money, and offering checking accounts is a way to attract deposits, which banks turn into profitable loans. They offer their customers services such as Credit Cards, Personal Loans, Mutual Funds, Safe Deposit Boxes, Signature Guarantees and many other services.


 * __Now__**

[|**http://news.bbc.co.uk/2/hi/uk_news/england/devon/5316062.stm**]