No lie, I had an irrational fear that authorities would be summoned the first time I tried to deposit a large check (from consulting). I asked for a private conference with a banker so that I could explain the circumstances. Whereupon we had a very classic conversation:https://twitter.com/cperciva/status/1036423661673009153 …
-
-
That is not an insane question. I know a founder in a particular region in the US who sold the company to AppAmaGooBookSoft with the proceeds wired into their local bank, triggering an immediate call from an SVP (a real title at that bank): "YOU CAN'T PUT THIS MUCH MONEY HERE!"
-
Ya and it was an account they opened at a mall or something like that (which ironically meant it was a huge bank with branches everywhere)
-
I sometimes wish I worked at BigBank so I could see what branches brought people who eventually got $$$$ into the ecosystem. The bank branch for broke college students directly above our campus cafeteria can't possibly cover its own costs but 17 years later I still bank at BoA.
-
I can't believe mine is nearly the most lucrative account sourced to the cafeteria branch.
-
Ooh I know this one. It’s prime real estate; lots of accounts are opened there because of young customer base, and the LTV of a bank customer is enormous, so they build that into CAC and pay millions to colleges for locations near food courts etc.https://www.wsj.com/articles/banks-pay-big-bucks-for-top-billing-on-college-campuses-1517148001 …
-
They have to make public disclosures, so you can’t see the cost of running a branch (could estimate) but you can see how much they spiff unis for the privilege of doing so
-
Saving the Internet a Google: https://www.consumerfinance.gov/data-research/student-banking/marketing-agreements-and-data/ … ; the data really is fascinating.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.