Community

I hope so Andres. We often forget the human cost of change. 

Had to share this from The Atlantic:

Citigroup Eliminates 11,000 Jobs in History's Most Corporate-Jargony Paragraph Ever

...or London taxis that refuse to accept cards, hmm? But we're not accusing anyone of anything unless there's proof. (My bathroom still needs to be tiled)

I had put the link to this blog up on my Facebook page and my best friend responded. She is not only my best friend, but manages a Shaws supermarket in Massachusetts (and in doing so deals with Moneygram, the tills, payroll etc...) Here is her response:

Kimberly Smith Since I am not a member of finextra, I am not able to comment on the blog..but here is my perspective.

It is surprising to me the number of people who still only deal in cash. We offer a payroll check cashing to our customers. They pay a $1.00 fee for us to cash it for them(btw far cheaper than any bank would). They in turn buy money orders to pay any bills that have to be mailed.(another $1.00 charge to them for each mo). These people do not have bank accounts. they feel that they are "under the radar" by not having a bank account or debit card. I think they are all still stuffing their mattresses. These people are leaving the store with some times over $1000.00 in cash on them. It amazes me. Who are they hiding from?

I personally have had my debit card compromised. They were able to take over $800. out of my account in just a few hours. Who money is safer? Mine was protected by my bank and was returned, but not after a lot of forms and leg work by me. I know the rest of the world has better safeguards to protect plastic users. But I was still robbed. I very rarely have cash on me. That is my choice. If I have it on me, I am more apt to spend it quicker on those not really needed items that I am limited to use only cash on. I think no matter the situation we are putting ourselves out there. 

Thank you, Ketharaman. Yes, I agree. Products like Square are bank allies.

I think we have hit a change in attitude from banks. It would be hard to argue that most banks are ignoring mobile or social or improving customer interactions.

The financial innovations and projects that keep banks in the equation, will have the longest shelf lives.

Shocker

Ha! As soon as I wrote this I thought "...someone is going to argue 'why can't you pay for parking with a Dunkin' Donuts card? After all, all it is is a pre-paid card...'"

A coffee regular, cup of Munchkins and 45 minutes at the parking meter please! :-)

'On yer bikes! Greece!' ;-)

Although, is this any better than TFL's advice for Londoners during the Olympics?

I believe, 'cycle in' was number three of the list of suggesstions. After 'don't travel to and from work between 7:00 and 10:00 or 16:00 and 20:00' (O.....K) and 'try not to travel directly into work' (should I go via Birmingham then?)

Or maybe the whole thing was just a publicity stunt?