Skip to content

Should Banks Still Be Closed on Sundays?

Should Banks Still Be Closed on Sundays?

Have you ever needed to open an account at a bank but the only day you’re free that week is Sunday? Of course, now that we’ve gone digital, there isn’t as much of a reason to go into the bank as there used to be. But our systems have to change as we change. So why are banks closed on Sundays?

Who decided banks should be closed on Sundays?

Banks initially took Sundays off because, in Christianity, Sunday is a day of rest and worship. There are other reasons, of course. Your staff will always need a break, and scheduling is much more challenging if you’re open every day of the week. Also, being closed is one less day you have to have the lights on, the systems running, and the A/C blasting. So it can significantly lower your operating costs.

What if I’m trying to do some banking on a Sunday?

And if you do have to bank on a Sunday, you’re not entirely out of options. Almost every bank has online options so you can access your accounts and ATMs so you can get your cash out. But most of the time, your transactions don’t run until Monday.

Not to mention, you can lose track of how much you spend when it takes a few days to process your transactions. Not all transactions show up on your statement at the time of the purchase, especially if it’s a weekend and maybe you make one too many. Now you’re dealing with overdraft fees.

How things have changed

Banks decided to close on Sundays because the nature of work was much different. Now, people have two or three jobs at a time; a few are probably remote and are working odd hours. As a result, the workday isn’t as constructed across the board as it used to be.

Is it time to change this? People have already started finding alternatives to traditional banks. One of the reasons many people are drawn to crypto is the immediate access to their funds. Transferring and withdrawing money happens instantly. Should your average bank give you that same instant gratification?

Source link

Leave a Reply

Your email address will not be published.