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So, I read an article [famous words, of course] about a guy who advises businesses on where to open. He says he always advises local coffee shops to open within eyesight of a Starbucks. Locals will usually choose local over Starbucks, and then you build a reputation as “local, and better than Starbucks.”
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I think the question was more as regards using a Starbucks account as a bank account, i.e. how convenient/fast is it to get your cash in and out.
I’d guess that for the sort of sums likely to be held on a Starbucks account, it might well be more convenient to store your cash at Starbucks.
There are certainly more and more Starbuck’s venues and fewer and fewer bank branches (and even ATMs are getting fewer).
I want 20 bags of coffee on stars, I need to pay my rent
The other great money boondoggle… the “Rebate”…
yeah we overcharge you x amount of money and then sometime later when we feel like it we will return it to you. (after we earn interest off your money that we are tying up for you, aren’t we special?)
Thank for posting this - i was trying to remember the other day the name of this strip.
True - but I’d imagine most people who are utilizing an account like this use it several times a week.
If they aren’t and or they forget about it - then why did they get it in the first place? Kinda seems like that is on them.
Like I said, there must be some benefit for frequent users - and someone said it is marginally faster and they get reward points. It might also be a way for people to track their Starbucks fund and not over spend.
You might be surprised.
https://www.moneysavingexpert.com/reclaim/reclaim-lost-assets-free/
That’s in the UK but as I understand it the position in the states isn’t much different - except you don’t have a central place to apply to in order to find old accounts since it’s all different state by state.
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I live in a country that stopped using ounces to measure anything 60 years ago, so I have no idea how big that is, but the last time I was in a starbucks the cheapest coffee in the joint was about $6.50 (local money).
That is about 2/3 more than the better product from any locally owned cafe.
Absolutely - and the total sum of money in forgotten chequing accounts may rival (or exceed) that in gift cards. However, I think the distinction is in the rate of forgetting/breakage - those chequing accounts are likely 3+ decades old on average and have gone unclaimed when the original owner passed away. Gift cards are likely lost, forgotten or broken at a much higher rate and unlike a bank account there is no way to reclaim them once that happens.
Wait…isn’t the penalty for trash-talking Tim Horton’s the revocation of Canadian citizenship?
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