Design The Perfect Bank

[digaran]

This is fun asking people to give you and design a perfect bank for you? what else would you like me to go in 3D-home and design a your physical offices as well?
Tell me what makes you to trust a bank completely? what do you need to see or know about them to put your trust and money in their hands?
As bitcoin is indeed a perfect bank it also lets you to decide whether or not you're willing to risk your money and for how long and just with a few clicks away from making any big or small transfers/decision.
By the time people start to realize this simple fact that the stupidest thing is for you to put your bitcoins in a bank.

Banks need to be backed by physical gold reserves and if not with insurance you are practically doomed.

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[BitcoinPostage]

Thank you everyone for your great input.
A few things are certainly sticking out.

Oh and yes I think this is very fun 

[shamzblueworld]

Perfect bank:
Very Minimum to None fees.
No taxes and service charges.
Crypto to cash and vice versa
Online +Offline 24/7

I hope I'm not missing anything  

[bitcoinisbest]

So I was wondering, what would you guys consider the perfect bank.

Fees?
Common complaints?
Things it should offer?
Locations / Online only?
What currencies should be accepted?

Well anything you can really think of.

I want to hear from you and want to hear about the most common complaints.
Any bank horror stories?
What happened?
What should have happened?

Well yes couple of thing which is very important for any bank to exists and provide its services to customers are as follows ;

- Simple and very low fees or no fees if possible for transaction done and withdrawal from ATM. Many banks do charge ATM withdrawal fees here.
- Online it should be quick and provide majorly all facilities online and good location branch .
- Regarding currency bank will only accept the one which is recognized and controlled by government .

[sportis]

1. Bank's reputation not only in my country but internationally too.
2. Good training of their employees.
3. As few paperwork especially for basic work.
4. Clear terms in any banking process without small letters in the bottom of the page.

[Xester]

So I was wondering, what would you guys consider the perfect bank.

Fees?
Common complaints?
Things it should offer?
Locations / Online only?
What currencies should be accepted?

Well anything you can really think of.

I want to hear from you and want to hear about the most common complaints.
Any bank horror stories?
What happened?
What should have happened?

A perfect bank is like a cooperative that considers all of its depositors its members and after the year of business they will be giving dividends and patronage refund to the members for the deposit they made. This kind of bank is user based and not profit oriented and thus people will love it since even if they pay the interest from their loans but at the end of the year they will get something in return.

[gribble]

So I was wondering, what would you guys consider the perfect bank.

Fees?
Common complaints?
Things it should offer?
Locations / Online only?
What currencies should be accepted?

Well anything you can really think of.

I want to hear from you and want to hear about the most common complaints.
Any bank horror stories?
What happened?
What should have happened?

The problem on the Banks right now for me are high fees sending money especially between countries
and the other problem is fiat currency always losing values because of inflation,
they are big problem on the Banks the perfect bank must against the inflation in currencies and small fees sending money
 the bank should accept digital currencies.

[bitart]

So I was wondering, what would you guys consider the perfect bank.

Fees?
Common complaints?
Things it should offer?
Locations / Online only?
What currencies should be accepted?

Well anything you can really think of.

I want to hear from you and want to hear about the most common complaints.
Any bank horror stories?
What happened?
What should have happened?

I personally think that banks should be avoided at all costs - bitcoin is a good alternative to avoid that middle man altogether. I believe that this is one of the most important steps we can take towards making banks up their game, in terms of fees and all.

I was really shocked to find how much hassle it was to exchange foreign currencies and if you had cash, they would offer you really really bad rates.

Foreign transfer fees are ridiculous as well.

Bitcoin solves all these things.

You're right, bitcoin can solve all these things, and should solve all these things, with less costs compared to banks.
But, these things are just a little part of the banking industry, bitcoin can't solve loans secured with collaterals or mortgages, or anything that needs legal or personal involvement.
If bitcoin will solve the money transfer in the future, banks can focus on other services, but we cannot predict the future yet.
In 2018, banks should open their systems for fintech applications, so banks should specialize themselves if they want to survive.

[darklus123]

Everything can never be in a perfect manner. How hard we plan finally some imperfection happens and few accept the imperfection making it a lead for their services, some describe the same as a negative line and avoid it. Think of bitcoin, most of the like the fluctuation which profit the users. Some are there who fear for the same and avoid using bitcoin. So imperfection might slowly becomes perfect but from the beginning we cannot give assured perfectness.

Eaxctly there would always be a room for improvements. So basically if your bank has no critics that of course would nake you feel that your banking system is perfect but in thecreality its not

[xuan87]

There are too many procedure for doing transaction from bank, you need to fill in form and wait in queue, provides document, so it's time consuming and some of the bank got a bad customer support, but we still need bank to do a long term loans eventhough the interest really high

The perfect bank in my version will be good customer support, with the easiness to do transaction, got a high interest, but a decent loan interest, there will two factor identification if we are doing transaction online

[squatz1]

The ideal is one that allows you to have a dedicated manager in an agency close to your home, and to totally manage my account online, easily and in real time, but also personalized at moderate prices and sophisticated services...None is completely perfect (or imperfect either). Thus, ideally, to have the best Bank, should use the services of several banks! And i want to add: to open an account easily, quickly 100% online.
I prefer online banking. I have not visited my bank agency since about 3 years. I don't need any other currency than one. As for the fees, this is where I am not happy, they charges me monthly 2 times more than what my mobil phone bill, to compare... Can you believe that ! The only thing i use is their website !
Now there are banks 100% online and it becomes more and more pouplar and it's cheap, I am thinking to switch to one of them as they charge 3 times less than my current bank

I do agree with you, we can see many banks that are online-based, and pretty much they operate only through Internet, with some exceptions, because if you want it or not, every bank needs headquarters, or the place where the consultants and bank employees work.

First, I would suggest that having a totally free account is a good idea, when you have to pay every month for just having your account registered, this is not something we wan't in 2017, am I right?
I dont even think that this is even worth to continue, because I think that the banks should never been made, all they can do is literally rip off the money out of the rest of society.

Funny thing about all of this thread is that I just put up a post about bitcoin banks and how it could work though it would rely a lot on trust which is tough to find on the internet.

I'd say one of the first things you have to touch on is the part that you'd have to be able to trust the people that run the bank itself and someways to safeguard against the owners of this bank from being able to exit-scam. But personally, I'd rather see a bank run more like a credit union if we're talking about the Crypto world too.

I'd be nice, but it'd take a lot of time, work, money and trust.

[olushakes]

First thing first, there is nothing like ideal as there will always be reaction to every action whether positive or negative. In addition to that, the issue I have with banks is the fees and even on the high side. They charge above what the regulators asked them to charge, they just go ahead and debit your account in an unreasonable way when you make transfer to either same bank or other banks. If I have anything to change, I will focus more on the fees in reducing it to a large extent.

[webtricks]

Perfect Bank !!
Ok, I try. Bank has basically three things in its definition-
1. Deposits
2. Loans
3. Profits
Starting with deposits, ideal bank should be one that doesn't think itself anything superior like other banks do. Usually banks think they are some esteem power which can provide complete safety to users' funds and that is the reason why people save in banks. In place of wearing this fake repo, ideal bank should provide high rate of interest so to cater the basic reason why people invest and i.e. return!
Now loans, rather than sitting like couch potato and rejecting 8 of 10 applications for loan, idol bank should better go for dynamic investments. Like ordinary financial unit, bank should also mobilize its fund in most productive use and become power house.
Lastly, coming to profit. Ideal bank should have zero NPA and it should distribute most part of its profits to depositors in form of dividends by raising their contributions from depositors to investors.

[Dogeboi3210]

The ideal is one that allows you to have a dedicated manager in an agency close to your home, and to totally manage my account online, easily and in real time, but also personalized at moderate prices and sophisticated services...None is completely perfect (or imperfect either). Thus, ideally, to have the best Bank, should use the services of several banks! And i want to add: to open an account easily, quickly 100% online.
I prefer online banking. I have not visited my bank agency since about 3 years. I don't need any other currency than one. As for the fees, this is where I am not happy, they charges me monthly 2 times more than what my mobil phone bill, to compare... Can you believe that ! The only thing i use is their website !
Now there are banks 100% online and it becomes more and more pouplar and it's cheap, I am thinking to switch to one of them as they charge 3 times less than my current bank

I do agree with you, we can see many banks that are online-based, and pretty much they operate only through Internet, with some exceptions, because if you want it or not, every bank needs headquarters, or the place where the consultants and bank employees work.

First, I would suggest that having a totally free account is a good idea, when you have to pay every month for just having your account registered, this is not something we wan't in 2017, am I right?
I dont even think that this is even worth to continue, because I think that the banks should never been made, all they can do is literally rip off the money out of the rest of society.

Funny thing about all of this thread is that I just put up a post about bitcoin banks and how it could work though it would rely a lot on trust which is tough to find on the internet.

I'd say one of the first things you have to touch on is the part that you'd have to be able to trust the people that run the bank itself and someways to safeguard against the owners of this bank from being able to exit-scam. But personally, I'd rather see a bank run more like a credit union if we're talking about the Crypto world too.

I'd be nice, but it'd take a lot of time, work, money and trust.

Banks give loans based on their ability to collect collateral as a way of hedging against risk of default. I think the trust issue can be solved with smart contracts. The real issue is that there is a need for there to be consequences if you default on a loan. like how your credit gets destroyed in real life

[maku]

The ideal is one that allows you to have a dedicated manager in an agency close to your home,

That is ideal, but online banks tend to not have luxury of having local offices.

And i want to add: to open an account easily, quickly 100% online.
I prefer online banking. I have not visited my bank agency since about 3 years.

Opening account is easy, there is a problem when you need to close the account because you are disappointed with terms bank offers.
I experienced many times situation when I opened bank account and after year bank added some ridiculous fee.
It is always far complicated to close unneeded account and get rid of the problem than to open it.

[LeGaulois]

The ideal is one that allows you to have a dedicated manager in an agency close to your home,

That is ideal, but online banks tend to not have luxury of having local offices.

And i want to add: to open an account easily, quickly 100% online.
I prefer online banking. I have not visited my bank agency since about 3 years.

Opening account is easy, there is a problem when you need to close the account because you are disappointed with terms bank offers.
I experienced many times situation when I opened bank account and after year bank added some ridiculous fee.
It is always far complicated to close unneeded account and get rid of the problem than to open it.

Yes I agree with this, but it is also what make theirs fees cheaper. Since they don't have local office and so a rent to pay, and others ressources than others traditionna banks have, they split this reduction on the fees charged to customers. Less machine, less office, less electricity ect ect. It decrase the cost of operating a bank. Also the staff working in those banks are very very less aware about banking. You can test yourself, if you ask them some basic questions they are able to give you an answer, but as soon you start to ask some very specific questions, they will just tell you, sorry i don't know. Those people are less trained and less efficient when it's time to ask precise questions

[LuanX3]

I don't get why OP is even asking this, generally all banks have their own way of running things and as the saying goes "no body is perfect." Banks can't really be the best at everything its practically impossible to please every customer there is. It's not like you can tailor every aspect of the bank to really be suited for a particular customer.

[tk3609]

So I was wondering, what would you guys consider the perfect bank.

Fees?
Common complaints?
Things it should offer?
Locations / Online only?
What currencies should be accepted?

Well anything you can really think of.

I want to hear from you and want to hear about the most common complaints.
Any bank horror stories?
What happened?
What should have happened?

All banks should be forbidden and lending money should be penalized by death.

[el kaka22]

what would you guys consider the perfect bank.

No need to break our head to innovate a perfect bank system, I believe sometimes back bitcoin wallet itself was serving many people similar to a perfect bank. I mean to say when were having very low transaction fees, bitcoin wallet served as a perfect bank system.

Honestly I do not need any other services because bitcoin wallet could provide all my needs. I'm able to send money to my parents who are in my home country and I'm able to save some money in the form of bitcoins. The only thing now we need to consider is transaction fees, it is relatively higher but compared to any other services we are still paying very less.

[sevendust777]

In my own opinion the design perfect bank should be no fees even the depositors withdraws same branch different location. Assisted well the investors, easy and fast transactions, and low fees to all investors. Lastly, the investors should be a happy despite the difficulty inline to deposits in the bank.