Another Consequence of Covid-19

The (now deceased) Bank of Montreal branch on Weston Road and John Street. The bank where time stood still.

According to a friend in the banking business, online banking has expanded hugely during the pandemic. People who until recently have resisted modern technology are being been forced into the digital age. Huge resources have been diverted into teaching these customers how to use internet banking over the phone and apparently once they have tried it, many have found it surprisingly easy and have indicated they will continue after Covid goes away (2022?). They have been pleased with how easy it is to move money between accounts and don’t miss waiting in line although many also regret losing contact with a human teller.

As a result of the adoption of online banking by many more people, my source tells me that bank bosses are accelerating plans to close branches earlier than they dared hope a few months ago. We’re down to a precious few branches in Weston. Let’s hope that some will remain.

Thought of the day: Did you ever imagine that one day you’d put on a mask and enter a bank?