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Author: GoCowboys Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 24247  
Subject: Poll: USAA/Other Banks Date: 5/11/2002 12:43 PM
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Yes
No

Click here to see results so far.

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Author: UKBankerBoy Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16997 of 24247
Subject: Re: Poll: USAA/Other Banks Date: 5/11/2002 1:54 PM
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For those of you who bank with USAA, do you also keep an account at a brick-and-mortar bank to make deposits, etc.?

I voted yes but you should have added a choice for other online banks too. Although in my case I'm moving money from my online bank (not USAA) to my B&M bank via USAA.

UKBB

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Author: aktravler85 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17021 of 24247
Subject: Re: Poll: USAA/Other Banks Date: 5/14/2002 3:59 PM
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Ummmm, isn't USAA a B&M bank? It does have a physical location. It is not just a on-line bank.

Ak, wondering how one of my Credit Unions would be pegged. I've never been there, always (including opening the account) done my business from a distance, for over 20 years. My bank and 2 CU's have full on-line access, gotta love it!

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Author: SeattleNative Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17023 of 24247
Subject: Re: Poll: USAA/Other Banks Date: 5/14/2002 5:14 PM
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Most "Internet banks" (i.e. NetBank, American Bank/PC Banker, Umbrella Bank, E*Trade Bank, American Express Bank, State Farm Bank, TD Waterhouse Bank) have a customer lobby where a client could conduct in-person transactions with tellers or bank employees. But these banks do not operate "branches" of that single main office, and so they could be considered "branchless banks" even though they do have a brick-and-mortar main office that offers teller-assisted transactions.

As a practical matter, "brick-and-mortar" refers to an bank that operates multiple full-service teller-staffed banking facilities ("branches" of a main office).

It gets murky when we look at ING Direct which, as I understand, has several "cafes" which provide customer information but offer no actual teller services to customers.



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Author: SeattleNative Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17024 of 24247
Subject: Re: Poll: USAA/Other Banks Date: 5/14/2002 5:19 PM
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By the way, you correctly noted USAA FSB does offer full-service banking at its single location on McDermott Parkway in San Antonio.

My understanding is NetBank, Umbrella Bank, State Farm Bank, American Bank, E*Trade Bank and American Express Bank also offer in-person banking services and tellers in a customer lobby in their single main office.

Offering those services in a single location, within the main headquarters office, wouldn't make these banks "Brick-and-Mortar". It just means if you are a NetBank client and visiting Washington D.C., you might want to go visit their office and see the "one and only" NetBank location with real live tellers!

However, as far as I can tell, Bank of Internet appears to be 100% teller-free. They have live cams of their office and it doesn't appear they have actual teller services there. Can anyone speak definitively to this?

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Author: joelcorley Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17025 of 24247
Subject: Re: Poll: USAA/Other Banks Date: 5/14/2002 5:56 PM
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aktravler85,

You wrote,

Ummmm, isn't USAA a B&M bank? It does have a physical location. It is not just a on-line bank.

Ak, wondering how one of my Credit Unions would be pegged. I've never been there, always (including opening the account) done my business from a distance, for over 20 years. My bank and 2 CU's have full on-line access, gotta love it!


Wonderful point.

My father is a Farmer's Insurance Group agent, which qualifies him and his family members for the company credit union. Twenty plus (20+) years ago, as a teenager, I held a FIG CU checking account just because FIG was paying 7% on checking accounts. My local S&L passbook account was paying 5.25%.

I believe the credit union was in Austin, Texas; I was in Ft. Worth. I've never seen their offices. I made all my deposits by mail. (Stamps were 10 cents and they sent me deposit envelopes.) To make a withdrawal required me to deposit a check in my passbook account.

Except for bill pay and ACH, my FIG CU account sounds much unchanged from what we deal with here on this board.

---

Actually, so-called on-line merchants are really just what we used to call mail-order houses. The only difference is that now they can send you their catalog and get your order with almost no delay, more exposure and a smaller staff. E-commerce is simply old-fashioned mail-order businesses with new names and new facades.

All of which makes me wonder this talk about "taxing the internet." I thought that issue was settle by the U.S. Supreme Court back in the 70's. The Supreme Court decided that a state could not impose a tax on interstate commerce without impinging on the U.S. Constitution. If that ruling still stands, it would seem any "internet tax" would be struck down in a heartbeat by the courts.

- Joel

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Author: aktravler85 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17026 of 24247
Subject: Re: Poll: USAA/Other Banks Date: 5/14/2002 10:42 PM
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Joel,
"All of which makes me wonder this talk about "taxing the internet." I thought that issue was settle by the U.S. Supreme Court back in the 70's. The Supreme Court decided that a state could not impose a tax on interstate commerce without impinging on the U.S. Constitution. If that ruling still stands, it would seem any "internet tax" would be struck down in a heartbeat by the courts."

I see it as you do, I get very tired of having to pay my tax dollars on issues that were voted on 1-2 or more years ago, just to be brought upagain. I think it must be the wear down factor being applied by the losers.

Ak, who thinks when we vote, the matter should be done.

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