It wasn't so long ago that if someone wanted to withdraw moneyfrom a bank account or transfer funds, there was but one option - goto the bank and stand in line to see a teller.
Consumer banking options widened in the 1970s when ATMs made theirdebut. After ATMs came telephone banking, and then the Internet,which allowed consumers to perform almost every account transferprocedure without ever talking to a person.
The busy bank lobby became a quieter place, and long lines fortellers became a fading memory.
And while some people still prefer to bank in person, the rise inthe number of people choosing not to trek into the bank lobby hasresulted in the hiring of fewer tellers. Add wireless banking, doneover the Internet through cell phones, and tellers might soon becomean endangered species.
There are no hard numbers that detail the demise of bank tellers,and no one has made an effort to conduct a survey, but somestatistics do point to a decline in the profession.
Retail banking jobs, most of which are teller or phone customerservice positions, represent about 25 percent of all banking jobs.Less than 15 years ago, retail banking jobs represented nearly halfthe banking world's work force.
In 1993, banks that had assets of at least $300 million averaged35 employees, and 15.5 of those positions were tellers. Banks withassets between $300 million and $900 million had an average of 229employees, and 102 were teller positions. In 2006, retail bankingpositions were estimated to account for only one of every fourbanking jobs, according to the American Bankers Association.
While it's clear that the number of tellers has been decreasing,most bankers agree that the position will never completely fade away,and many say that branch banking might be responsible for keepingtellers in the lobbies.
Prior to 1987, banks in Colorado were limited by law to one mainlocation and one detached location within 3,000 feet of the bank, soconsumers and business owners were forced to visit their bank'sphysical location for banking matters.
"That's why when you go into one of these big banks downtown, yousee these gargantuan teller stations with 10 or 12 windows and onlythree tellers working. They were designed for a different time whenmore people came into the bank," said Colorado Bankers AssociationPresident Don Childears.
While technology has lessened the need for tellers, Childears saidbranch banking has made hiring tellers a necessity because largebanks need to staff their multiple suburban branches.
Every bank has to have some tellers, so more branches means moretellers.
The ABA says that 76.7 percent of banks planned to add branchesthis year, said ABA spokeswoman Susan Besaw.
"I would conclude that as long as they're building banks they'regoing to be hiring tellers," Besaw said.
Paul Perea, downtown branch president of U.S. Bank, estimates thatthe number of tellers at his bank has decreased between 10 percentand 15 percent in the last couple of decades. However, Steve Shaffer,retail banking president for Chase in Colorado, said that tellerhiring has remained steady because of staffing needs at multiplebranches.
Still, the advent of banking technology has changed bankingemployment needs.
"There's no doubt that ATMs and the Internet have changed bankingforever," Childears said. "And, it's probably going to keepchanging."
The newest banking technology could make its debut as early asnext year.
Software and wireless phone companies are creating networks thatwill allow consumers to make wireless fund transfers using cellphones.
Cell phone banking is already in use in Europe and othercountries.
Cingular Wireless, is working with software company FirethornHoldings to develop technology that will allow consumers pay bills,check balances and transfer funds using their cell phones.
"What our product basically does is create a common languagebetween bank and cell phone networks, and it streamlines the cellphone banking process for consumers," said Firethorn founder and CEOTripp Rackley. "And it creates a much more secure connection thansomeone might have with their cell phone today."
For instance, Rackley said that if consumers were to use theircell phones to type in the word "password" it would take 37keystrokes. The Firethorn applicant would require eight.
Rackley, who also founded the company that created the firstapplication that allowed Internet banking, is in the process ofpitching his product to the nation's largest banks.
But, some foresee problems with cell phone banking.
The ABA's Besaw said one problem is that there is no regulation ofthe electronic transfer fund business, and that if procedures aren'tfollowed correctly or network errors cause transfers to fail, bankscould be left holding the bill.
So, despite the unending upgrades in technology, it's unlikelythat teller jobs will ever vanish, Besaw said.
"Because, let's face it, technology has flaws, and people are theones that fix those flaws," she said.
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