Is Wells Fargo Attempting to Eliminate Bank Branches Altogether?
San Francisco-based Wells Fargo is the shining star of conventional banking. But with its recent debut of a small neighborhood-concept branch in downtown Washington, D.C., the bank may have new ideas for how banking should be done.
The branch has moving walls that open during business hours to accommodate complex customer needs, while the remaining space is dedicated to three large full-service ATMs -- or more apporpriately termed "store transaction machines" -- that can handle a variety of banking transactions that a traditional teller line would normally handle.
In the video below, Motley Fool contributor Jessica Alling discusses the new concept, if it's a sustainable source of banking service, and how it would help Wells Fargo and its investors.
Wells Fargo's dedication to solid, conservative banking helped it vastly outperform its peers during the financial meltdown. Today, Wells is the same great bank as ever, but with its stock trading at a premium to the rest of the industry, is there still room to buy, or is it time to cash in your gains? To help figure out whether Wells Fargo is a buy today, I invite you to download our premium research report from one of The Motley Fool's top banking analysts. Click here now for instant access to this in-depth take on Wells Fargo.
The article Is Wells Fargo Attempting to Eliminate Bank Branches Altogether? originally appeared on Fool.com.Fool contributor Jessica Alling has no position in any stocks mentioned -- you can contact her here. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.