To the Editor:
In Keremeos and surrounding area we have many who do not have email or a computer! Some of these also do not do phone banking of any sort. In Keremeos, most business and residents rely on the bank for cash on a daily basis and a few of these do not even have a vehicle or driver’s license to go to Osoyoos or Penticton.
Also for the CIBC in 2017 the second quarter highlights are of note.
Reported net income was $1,050 million, compared with $941 million for the second quarter a year ago. This shows that CIBC is still making big profits and they have no interest in adjusting their footprint and way of doing business in smaller communities to maintain profitability per branch and to maintain loyal customers.
In short they are big business with big city mentality.
I realize that they are trying to get to a cashless future and they are trying to force this upon us. The overheads associated with handling and processing physical cash are more expensive. A cashless future where you leave home with your phone, transact anywhere and any time, is an attractive goal, but in the rural areas of Canada we do not have the infrastructure in place yet or the dependability of the internet not crashing. We still use cash. ou can do a lot of your simple transactions using your mobile app or the ATM***IF the internet is working if not WE STILL USE CASH.
You can do a lot of your simple transactions using your mobile app or the ATM. If you even have internet, but if not – we still use cash.
You can do a lot of your simple transactions using your mobile app or the ATM. If you have a smart phone, but if not – we still use cash.
You can do a lot of your simple transactions using your mobile app or the ATM. If you can get a wi-fi signal or have a data plan, but if not – we still use cash.
You can do a lot of your simple transactions using your mobile app or the ATM. If the business has a debit or credit machine, but if not – we still use cash.
Also when it comes to major decisions, when it comes to complex transitions, when it comes to problem resolution, with all the phone scams, you want to be able to speak to somebody, you want to be able to have a face-to-face conversation.
Bob Terry
Keremeos
