Skip to main content
About Us |
resource center |
Contact Us |
We are pleased to present below all posts tagged with ' community banking'. If you still can't find what you are looking for, try using the search box.
As larger financial institutions closed or consolidated in Orange County over the past few years, we saw there was a demand for what we at Rhinebeck Bank do best – supply individuals, families and businesses with a wide selection of banking and lending solutions, and support them with the right technology and our hallmark superior customer service. (… and you thought you left “Supply and Demand” back in your Introduction to Economics class from years ago.)
We have all heard it many times - to make money, you need to spend money. Like many small businesses, you might be finding yourself at the point where you find it necessary to borrow to continue to grow. Are you looking to purchase new equipment to increase inventory? Are you in need of a new or bigger commercial vehicle? When it comes to growth or borrowing funds, one of they key components to making it a beneficial business decision is timing.
What’s your spending preference, cash or debit card? There are positives to using both:
With a debit card, there is the convenience of having transaction records that are tied to your checking account. Your bank can provide these to you through electronic statements (estatements) paper statements, or online banking. (Find information on our services here: online banking). You can always make mental notes who and where you pay with cash or maintain your own transaction records, but your bank will only have record of your initial cash withdrawal. For those who like to have electronic history of their purchases without the hassle of balancing a checkbook, debit cards can be the way to go. It’s also worth noting that debit cards are essential for online purchases, such as booking a flight or hotel reservation. Furthermore, debit cards give spenders the purchasing ability without carrying around cash or change, which can be bulky in a wallet. Some spenders prefer to never visit the ATM and use their debit card for nearly all purchases.
There are many reasons why a business, whether old or new, may need to borrow. They may need liquid cash to make it through seasonally slow periods, or they may be getting so much business that they need to purchase extra inventory in order to keep up with demand. They may want to relocate, or purchase a second location.
In a previous blog I wrote I asked the question, "will brank branches disappear?" In that blog I made the following statement:
“As a local Community Bank, we see the importance of locations where our customers can conduct business with a financial professional, whether it is a simple cash transaction with a teller or a complex transaction where a face to face meeting with a Banker would be helpful.”
Have you ever received a message, phone call or notice in the mail regarding excessive transactions and Regulation D (“Reg. D”) from your bank? It’s a pretty common occurrence in a world of electronic access to accounts via online banking, mobile banking, debit cards and ACH transactions. So, what exactly is Reg. D and what are excessive transactions?
The first Automated Teller Machine (“ATM”) in the U.S. opened in New York City on September 2, 1969.This original ATM was designed to dispense cash when a valid plastic card was used. By the 1980’s ATMs became widespread, handling many transactions that human bank tellers could perform. ATMs went on to revolutionize the banking industry.
For the past several years, a hot topic in banking circles has been centered on Millennials. More specifically, the talk has been how to tailor banking solutions to meet the needs of the next up and coming generation. Born between 1980 and 2000, Millennials are the largest generation in American history. As a Millennial myself, I can attest to the fact that being born in the early 80’s, as I was, is much different than being born in the late 90’s. That being said, if there’s one thing that’s shaped this generation as a whole, it’s technology. Technology has touched just about everything in the lives of a Millennial, most of whom don’t remember life without access to the internet. Over this same time period, banking has evolved tremendously along with technology. Technology has driven customers away from bank branches and to ATM’s, computers, mobile devices, and third party payment systems such as PayPal.
USA Patriot Act
®2019 Rhinebeck Bank. All rights reserved.