still need physical branch lah for opening acc opening this and that, and space for atm machine and etc.......
also as townships are expanding, you also need a present at new place as well. takkan expect your customers to travel 20 to 30kms just to visit your branch. there are still many cash biz around, mamak stalls hawker stalls and etc. How are they going to bank in their daily intake?

30yrs is a long time to predict unless gov do away completely with hard cash notes.

Really ....??? with the pace of things are changing now ...you think still , we need ATM machines to be around after 10 years.....

you do not need to travel and be physically in some branch to open some account....specially your saving...do you need saving account in the future......hmmmm maybe

I think change is faster then the 30 years that you are talking about

Just my well informed thoughts

Unless you believe solar flare and CME will hit earth soon....and we need to start from sketch again ....then I say possible

I agree. Singapore is moving towards cashless systems and e-payment for the entire city / island.

I don't need to have a bank near where I live. Might be better too -- less chance of crime. I am in my 30s and I predict those younger than I will rely less on physical bank branches.

I thought in order for a neighborhood community to grow, they'll need a bank. From what I learn, besides bank, school is also important to grow a community. Correct me if I'm wrong.

This post has been edited by woopex_: Apr 19 2018, 05:16 PM

Malaysia and malaysian tough lar. Many business in Klang Valley still in cash transaction only, even in the mall itself. unless serious enforcement in cashless transaction only by government or certain authorities. And many ppl still prefer using cash for daily spent and purchase. Unlike westerners or white ppl, they love using card or cashless transaction. Malaysians i can see still prefer using cash.

In major cities in China, those use cash in convenient stores, etc are mostly foreigners or from countryside.

This post has been edited by icemanfx: Apr 19 2018, 09:25 PM

Have there been any workmanship issues with Setia Ecohill homes?

How many restaurants you visited recently that said "sorry above rmxx only they accept credit or debit card"?

Biz still prefer cash as with cash they can do more things under the sun and in the dark.

Malaysia is NOT china or singapore.

Its true that as emloyees most of us dont need to go bank anymore.....or less frequent.

But we are not bizmen and we dun run biz. Ask them and see how often they go banks...

Last yr i need to go to the bank 4 times to fix the stupid debit card.

And tis year i need to go to bank to withdraw my fds in person bcos it cant be done online.....

Welcome to malaysia.

'We are not bizmen'? How do you know? Plenty of my peers in business have reduced reliance on cash payments. In fact the people I know who are making good profits in Malaysia are selling online almost entirely while the ones with shops are bleeding.

You don't want to believe a banking professional in this thread who has said that banks are reducing physical branch numbers and you don't want to believe a 30-something who prefers online banking. OK lor...

Tell me how yoy pay yr neigbourhood mamak stalls coin operator dobi and hawker stalls? Or pasar malam shopping? Wet market buy veggies and etc?

The world doesnt revolve around 30-somethings that dun do grocery marketing, only shop on line and rely on food panda for their meals

Who do you think will be interested in buying landed property in suburban areas in the years to come? In fact the 30-somethings who have made money selling online are already buying landed property for their own future stay in Kajang.

The point isn't that cash is going away completely, it's that physical banking is becoming less necessary. All the signs are pointing that direction.

Nobody is denying the fact that physical full banks are less significant now....but not everyone is doing banking online. Atm and downsized branches are still required especially on si beh far townships

Banks are not just doing deposit and withdrawal. Anyhwere there is no mobile bank agents yet in malaysia.

Well....the argument is not to say the situation now..........I guess its more to what we will see within 10 years....well..maybe your are not aware ...I give two real life simple examples (that i recently encounter)

1) Some of the the mamak restaurant (@kajang) and bah kuh teh (@Senawang) already accepting mobile pay....(which is not hard to implement and its without high overhead cost)

2) Government dealings ( Palace of Justice @ putrajaya) , I need to pay just RM4 for document verification service but no cash over the counter accepted.....either debit card or got need to go out to do ATM transfer and bring back the receipt. Initial I insisted cash....but the option need to go ATM for transfer, put me out me off.... and i did used the debit card wave to pay it off.

Actually I believe this topic is not so relevant under this forum site here (Eco Hill).....so I guess ...I ll end my statement on this here.

It is true and factual reality that banks are cutting down their branches and go for digitalization and digitization - engage Fintechs and industry disruptors for potential collab.

They also changed the methodology of connected infra & networks to improve ways of doing things. Future expansion will be very much on cloud base. Hence, banking and financial institutions megatrends will eventually adopt Digital Wallet and Contactless Payment.

Its relevent bcos seh residents crying for mbb.

So yr samples of (1) they dont have min consumption like min rm30 or rm50 b4 can pay by cards?

I find it very hard to believe for individually owned stores.

Dun get me wrong. Am all for cashless society but retailers jist arent corporating bcos they still need to pay merchant fee.

Yez eventually.....when? Nobody can tell.....next 5 yrs? Next 10yrs?

In the meantime will banks willing to loose customers?

Yes...they do not have min pay...i forget that service providers name (they even offer cash back promo. RM10 max capped..i think.......which i didn't bother to add on into my phone app), but saw they same service provider, few shops in kajang itself....

I got your point on some of the retailer.....its matter of time....chance or die (reduced business or out of business) ..by then as the cost of implementation is low....they sure will change.....


Have a good day

we dont need that many banks.
Banks are shutting down some of their branches and consolidating.
the key word here is consolidate.

What he is referring to is NOT to have no brances at all.
Can see the difference?

As for new townships, if u r referring to setia ecohill, look at the surrounding area lo..if i remember correctly the main road leading into the development got banks. So why would they open in setia ecohill? unless your population justifies it which at this moment no.
but i stand corrected.

Actually I myself prefer using credit card to pay for anything, by using card i reduce the frequency to go to bank to withdraw cash and can settle the outstanding via internet. But i'm still disappointed with current scenario of the payment system, many place still cannot accept card payment and only cash payment even in the mall itself. And there is some place may have min amount of purchase to use card or else there will be 2% - 3% charges which i'm reluctant to pay for the extra charges. I hope this scenario can change to effective cashless payment/system as soon as possible. However i see a lot of people still prefer to use cash and cancel all their card because card can make them overspend. haha