| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 675.1 | | PATE::MACNEAL | ruck `n' roll | Tue Jul 20 1993 15:18 | 7 |
| � Mr. Kinzelman inquired about the cost of member transactions performed in a
� branch versus those performed at a DCU ATM. Mary Madden, Vice President of
� Operations, replied that research showed transactions performed in a branch
� would cost DCU $1.25 each while ATM transactions cost approximately 1/3
� less than branch transaction costs.
Do we have any info on how much a transaction costs at a non-DCU ATM?
|
| 675.2 | See note 575.* | ASE003::GRANSEWICZ | | Tue Jul 20 1993 17:04 | 1 |
|
|
| 675.3 | FWIW | ROWLET::AINSLEY | Less than 150 kts. is TOO slow! | Tue Jul 20 1993 17:32 | 28 |
| From 575.0 a non-DCU ATM transaction costs DCU >= $1.00 and from the board
minutes a branch transaction costs DCU $1.25 and a DCU ATM transaction costs
$.83.
Transaction Gross Cost Member Net Cost
Location to DCU Pays to DCU
-----------------------------------------------------------------
Branch teller $1.25 $0.00 $1.25
-----------------------------------------------------------------
DCU ATM $0.83 $0.00 $0.83
-----------------------------------------------------------------
* Non-DCU ATM - low cost $1.00 $1.00 $0.00
-----------------------------------------------------------------
* Non-DCU ATM - med. cost $1.50 $1.00 $0.50
-----------------------------------------------------------------
* Non-DCU ATM - high cost $2.00 $1.00 $1.00
-----------------------------------------------------------------
* Costs are estimates due to lack of information from DCU.
If the non-DCU ATM costs DCU < $1.25, then those people using non-DCU for
transactions that they would otherwise use a branch teller, are saving DCU
money and are being penalized for it. If the cost of a non-DCU ATM transaction
is < $1.83, those people are still saving DCU money since they will pay $1.00
of that cost.
Bob
|
| 675.4 | | PATE::MACNEAL | ruck `n' roll | Tue Jul 20 1993 17:35 | 4 |
| I don't think it's that simple, Bob. Cost of a teller aren't really
"real" dollars since they have to pay someone to be there anyway. Cost
of an external ATM is "very real" dollars since that money is actually
leaving the DCU.
|
| 675.5 | Not quite true..y | SSDEVO::RMCLEAN | | Tue Jul 20 1993 17:42 | 2 |
| Not quite true... If everyone using the ATM used a teller then they would
have to hire more tellers or there would be complaints about the wait!!
|
| 675.6 | | ASE003::GRANSEWICZ | | Wed Jul 21 1993 08:51 | 25 |
|
RE: .3
>If the cost of a non-DCU ATM transaction is < $1.83, ...
^
Bob, do you mean $0.83?
DCU foreign ATM costs do vary according to the network used. The
$1.00 charge might be a little over in one case and a little short
in another. But we're taking pennies here and we need to keep this
relatively simple. No points for accuracy to 4 decimal places. ;-)
I have long believed that DCU needs to better address the issue of
remote DCU members and access to service. I would support the allowance
of some number (5/month?) of foreign transactions at no cost to the
member. I think some type of qualification would also need to be
done so that members with easy access to DCU branches or ATMs aren't
eligible or are eligible for 1 a month (travelling, emergency, etc.).
This is one of those areas where DCU could take some heavy charges
if they were all free.
I encourage you and others to discuss this with other Board members
to see where they stand on the issue and why.
|
| 675.7 | Is this clearer? | ROWLET::AINSLEY | Less than 150 kts. is TOO slow! | Wed Jul 21 1993 09:34 | 7 |
| re: .6
No, I mean $1.83. For every foreign ATM transaction that costs DCU less than
$1.83, the net cost to DCU is less than the net cost to DCU if the member had
used a DCU ATM due to the member paying part of the transaction cost ($1.00).
Bob
|
| 675.8 | | GNPIKE::KYZIVAT | Paul Kyzivat | Wed Jul 21 1993 18:57 | 16 |
| I don't know if the info is available, but why not make foreign ATM
transactions free if they are from ATMs which are physically distant from
any DCU ATM?
As long as foreign ATM costs are less than teller costs it really seems
like DCU should just eat all the costs. (After all, the net cost
difference between a DCU transaction and a foreign one only seems to be
$0.17) Or perhaps some number of free transactions could be alloted per
month, and extras could carry a fee EVEN IF THEY ARE DONE ON DCU ATMS OR
WITH DCU TELLERS!
Can DCU machines be used to do foreign transactions with other banks? If
so, part of the cost of our foreign transactions could be made up in kind.
While DCU doesn't have many ATMs, the ones we do have are very convenient
for people in those facilities, so they might get used reasonably often for
foreign transactions.
|