# Why do Banks only operate in such limited hours? **URL:** \ **Category:** Factual Questions\ **Created:** [August 20, 2011, 9:12am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422 "2011-08-20T09:12:36Z")\ **Posts on this page:** 17\ **Page:** 2
**Author:** ![Fear\_Itself](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/fear_itself/32/19637_2.png) [@Fear\_Itself](https://boards.straightdope.com/u/Fear_Itself)\ **Post date:** [August 20, 2011, 9:37pm UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/21 "2011-08-20T21:37:41Z")
> [@Daylate](#): > > Quitcherbitchn, you young whippersnappers! Back in my day ALL banks were open only from 9:00 AM to 3:00 PM, weekdays only. That’s where the term “banker’s hours” came from. When I was a kid, they didn’t open 'til 10:00am. ---
**Author:** ![UltraVires](https://avatars.discourse-cdn.com/v4/letter/u/ecccb3/32.png) [@UltraVires](https://boards.straightdope.com/u/UltraVires)\ **Post date:** [August 20, 2011, 9:47pm UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/22 "2011-08-20T21:47:55Z")
Part of the reason, at least originally, was to make it as difficult as possible to withdraw money. Ever since I can remember, banks have had those “night deposit” boxes outside where you can give them money 24/7, but you can only get it back 30 hours per week. You want to take $20 out of your account? You might come by at 7pm, but you aren’t going to miss work to do that. Result? Bank keeps $20 that much longer. Multiply by number of customers. You want a home mortgage (where the bank will make money)? You will certainly take two hours off of work for that. ---
**Author:** ![Girl\_From\_Mars](https://avatars.discourse-cdn.com/v4/letter/g/3da27b/32.png) [@Girl\_From\_Mars](https://boards.straightdope.com/u/Girl_From_Mars)\ **Post date:** [August 20, 2011, 10:45pm UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/23 "2011-08-20T22:45:25Z")
> [@GuanoLad](#): > > I live in Australia. Switching Banks won’t help, as they all do this. Just about all Australian banks offer weekend trading now, so have a look at your bank’s website and use their locator tool to work out your nearest branch with extended hours. Some located in shopping centres also offer later hours on Thursdays and Fridays. Another suggestion is that several banks now have Twitter accounts, and if you are having real issues obtaining info, you may have luck by contacting them and seeing if they can recommend a way forward. ---
**Author:** ![GuanoLad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guanolad/32/42_2.png) [@GuanoLad](https://boards.straightdope.com/u/GuanoLad)\ **Post date:** [August 20, 2011, 11:49pm UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/24 "2011-08-20T23:49:34Z")
Please read all my posts in this thread again. ---
**Author:** ![doreen](https://avatars.discourse-cdn.com/v4/letter/d/858c86/32.png) [@doreen](https://boards.straightdope.com/u/doreen)\ **Post date:** [August 21, 2011, 2:35am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/25 "2011-08-21T02:35:37Z")
> [@GuanoLad](#): > > But I need specific information from them about my accounts, so I travelled into the Bank at my lunch hour to ask. They said that they did not have the information I sought, I would have to call a number instead. Strange, but whatever. > > I didn’t call straight away, I had to have my lunch and then get back to work. I planned instead to call when I got home and had some free time. > > I did that. The automatic voice said “Please call again during normal business hours, 9 - 5PM weekdays” or whatever it was. And I thought, for phone access only, that was ridiculously outdated, and seemed to align with this crazy situation of the physical Bank buildings only being open at the most inconvenient times possible. Where exactly are you calling and what information did you need? As far as I know the banks I deal with have customer service centers taking phone calls 24/7 .( I’ve always been able to reach an actual person when I needed to , although I’ve never tried to reach a person at 3am) 99.9% of the time, I can obtain any needed info or complete any transactions either online , at an ATM or with customer service on the phone. For the .1% of times that I need to speak to someone in a branch (when is my safe deposit renewal due) or in a particular department ( scheduling a mortgage closing) I’m going to need to call when that branch or department is open - very likely M-F 9-5 ---
**Author:** ![doreen](https://avatars.discourse-cdn.com/v4/letter/d/858c86/32.png) [@doreen](https://boards.straightdope.com/u/doreen)\ **Post date:** [August 21, 2011, 2:47am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/26 "2011-08-21T02:47:57Z")
> [@](#): > > They said that they did not have the information I sought, I would have to call a number instead. Strange, but whatever. This makes it sound as though the branch personnel did not have access to the info you needed, which in my experience means that even if your bank had call center personnel working 24/7, they _still_ wouldn’t have access to the information you needed. ---
**Author:** ![aceplace57](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/aceplace57/32/3500_2.png) [@aceplace57](https://boards.straightdope.com/u/aceplace57)\ **Post date:** [August 21, 2011, 2:53am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/27 "2011-08-21T02:53:32Z")
Banks closed at 2pm except on Friday (open till 4pm) when I was a kid in the 1970’s. I got my first student checking account in the 7th grade. By the 1980’s they were kind enough to open until 4pm except on Friday (6pm). 1990’s they generously opened the drive thrus until 6pm m-f. The inside still closes at 4pm. We finally got a few hours open on Sat about 14 years ago. No doubt it is the most ridiculous business model imaginable. _Bankers hours_ is an old phrase for a soft and cushy job. Why they get away with it? \ who knows ---
**Author:** ![GuanoLad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guanolad/32/42_2.png) [@GuanoLad](https://boards.straightdope.com/u/GuanoLad)\ **Post date:** [August 21, 2011, 3:34am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/28 "2011-08-21T03:34:01Z")
> [@doreen](#): > > Where exactly are you calling and what information did you need? I’m calling the ANZ Superannuation Department, to find out the details I need to give my employer. This is not a Branch issue, it’s a very specific Department that keeps impractical hours. I guess there’s no answer to my query in the OP, because it seems like Banks aren’t consistent across the world like I thought. ---
**Author:** ![doreen](https://avatars.discourse-cdn.com/v4/letter/d/858c86/32.png) [@doreen](https://boards.straightdope.com/u/doreen)\ **Post date:** [August 21, 2011, 4:20am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/29 "2011-08-21T04:20:20Z")
> [@GuanoLad](#): > > I’m calling the ANZ Superannuation Department, to find out the details I need to give my employer. This is not a Branch issue, it’s a very specific Department that keeps impractical hours. > > I guess there’s no answer to my query in the OP, because it seems like Banks aren’t consistent across the world like I thought. I think they are consistent. Your situation is going to fall into the .1% of times I have to call a particular department during that departments’s business hours. You didn’t specify where you needed info from in your OP and people were telling you about their banks branch hours and phone service. You want a back- office department to be open outside standard business hours, and even in the US they usually aren’t , just like many other businesses can only provide certain information during business hours. Yes, I can be treated at the hospital 24/7- but I can only reach the billing department 9-5 or 8-4. I can get certain information regarding my pension 24/7 , but need to call M-F 9-5 to speak to a person ``` Banks don't staff those departments because it's not worth it. None of their competitors do it, and even if a couple did, most people aren't going to change banks because they infrequently have an issue that requires them to call the bank during business hours. And I think most people can find time to make that infrequent phone call during business hours - most people do get a break if they work 9-5 M-F. ``` ---
**Author:** ![RickJay](https://avatars.discourse-cdn.com/v4/letter/r/bb73d2/32.png) [@RickJay](https://boards.straightdope.com/u/RickJay)\ **Post date:** [August 21, 2011, 5:30am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/30 "2011-08-21T05:30:28Z")
> [@Marconi\_N.Cheese](#): > > Are only American banks online? I think the only time I’ve talked to a person at my bank was a few years ago when I went in to get something notarized. Aside from that, I have access to the same information the bank has regarding my accounts. I never considered it wasn’t that way in most developed countries. Ignorance fought. Canada here. I have not spoken to a bank employee in person in years. I’ve now arranged two mortgages through my bank without ever once meeting a person from the bank; it was done entirely on line, everything from the application to the submission of documents. The only physical items involved were the final documents, which were sent to us by courier. I do everything online except picking up cash, which I do at a drive thru ATM. ---
**Author:** ![Arrendajo](https://avatars.discourse-cdn.com/v4/letter/a/e0b2c6/32.png) [@Arrendajo](https://boards.straightdope.com/u/Arrendajo)\ **Post date:** [August 21, 2011, 5:49am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/31 "2011-08-21T05:49:58Z")
When I lived in Japan in the '80s, my bank had an ATM. In the foyer. Which was locked when the bank was closed. ---
**Author:** ![astro](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@astro](https://boards.straightdope.com/u/astro)\ **Post date:** [August 21, 2011, 7:18am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/32 "2011-08-21T07:18:16Z")
> [@doreen](#): > > ``` > Banks don't staff those departments because it's not worth it. None of their competitors do it, and even if a couple did, most people aren't going to change banks because they infrequently have an issue that requires them to call the bank during business hours. And I think most people can find time to make that infrequent phone call during business hours - most people do get a break if they work 9-5 M-F. > > ``` This pretty much. Your inquiry is so narrow and particular it’s be nuts for them to have retail staffing hours for these kind of inquiries. ---
**Author:** ![GuanoLad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guanolad/32/42_2.png) [@GuanoLad](https://boards.straightdope.com/u/GuanoLad)\ **Post date:** [August 21, 2011, 9:44am UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/33 "2011-08-21T09:44:26Z")
> [@astro](#): > > This pretty much. Your inquiry is so narrow and particular it’s be nuts for them to have retail staffing hours for these kind of inquiries. I guess you’re right, but it didn’t seem that narrow at first. I figured they’d have the information I need in my records and it would be easily accessible. ---
**Author:** ![kittenblue](https://avatars.discourse-cdn.com/v4/letter/k/ba8739/32.png) [@kittenblue](https://boards.straightdope.com/u/kittenblue)\ **Post date:** [August 21, 2011, 1:17pm UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/34 "2011-08-21T13:17:08Z")
> [@jtgain](#): > > Part of the reason, at least originally, was to make it as difficult as possible to withdraw money. Cite? ---
**Author:** ![Cicero](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cicero/32/3594_2.png) [@Cicero](https://boards.straightdope.com/u/Cicero)\ **Post date:** [August 21, 2011, 1:37pm UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/35 "2011-08-21T13:37:20Z")
> [@Girl\_From\_Mars](#): > > Just about all Australian banks offer weekend trading now, so have a look at your bank’s website and use their locator tool to work out your nearest branch with extended hours. Some located in shopping centres also offer later hours on Thursdays and Fridays. > > . I don’t know of any banks here (Perth) that open on weekends. Even Supermarkets do not open on Sundays. It depends on State laws, so your claim that “Just about all Australian banks offer weekend trading now” really needs to be taken with a grain of caution. Even if I want to Bpay or whatever I need to have it done by 3 pm local time as the cut off time is 5 pm in the Eastern States. Guano Lad, although I understand your problem, is it any different to dealing with say a Superannuation Broker? They still only work office hours. ---
**Author:** ![jbaker](https://avatars.discourse-cdn.com/v4/letter/j/59ef9b/32.png) [@jbaker](https://boards.straightdope.com/u/jbaker)\ **Post date:** [August 21, 2011, 7:59pm UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/36 "2011-08-21T19:59:05Z")
(Former) banking insider here. There are several things that are going on. 1. As several people have noted, in the old days banks closed early because employees had to process transactions before they went home. Large modern banks have separate staffs for this, so it is no longer a factor. They do still need a staff for it - modern computerization has substantially reduced the human factor, but has by no means eliminated it. 2. So why don’t modern bank branches stay open 24/7, or at least as long as, say, retail stores? The truth is, the bank doesn’t get much value out of having the bank lobby open longer. Yes, you want people to be able to open accounts and arrange loans, but most of the transactions that happen in the lobby cost the bank money, if only because of the teller time involved. Even during the business day, the bank prefers that, whenever possible, customers conduct their banking business with ATMs or computers. (So why do some banks charge for ATM use? Because they can. It turns out that banks like money.) The bank will extend lobby hours if competitive pressures force it to do so, but in most areas banks are sufficiently happy with good ATM access. 3. As doreen explained above, the OP apparently requires special information that is only available from a particular department during its business hours. That is different from the issue of why lobby hours are not longer. ---
**Author:** ![MLS](https://avatars.discourse-cdn.com/v4/letter/m/919ad9/32.png) [@MLS](https://boards.straightdope.com/u/MLS)\ **Post date:** [August 21, 2011, 10:28pm UTC](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422/37 "2011-08-21T22:28:19Z")
My bank is open at least part of every day except the major holidays, and the ATM is readily available to customers 24/7/365. [Previous page](https://boards.straightdope.com/t/why-do-banks-only-operate-in-such-limited-hours/593422.md?page=1)