Insinger de Beaufort, a private bank based in Austria, brings an archaic concept into the financial world, by setting clients up with a shoebox banking system. While you may not stash you cash in a shoebox under your bed, they do offer a similar convenience through their pickup service, with the financial safety of traditional banking.
Even with the uprising of online banking, telephone banking and direct payment methods like Paypal, typical banking requires clients to step into the institution or automatic teller in order to complete certain transactions, like depositing checks or making a drop to a safety deposit box.
Banking is making strides, but until the implementation of Insinger de Beaufort's shoebox banking program, had not reached optimal convenience. After undergoing an initial consultation with a personal banker, clients almost never have to step through the bank's doors again because the shoebox is couriered directly to their home monthly. Any documents related to banking and financial affairs can be deposited into the shoebox to be taken care of by the bank.
Insinger de Beaufort does understand that while people may not have the time or bother to look after their own finances; they do want to be kept in the loop. Within three days of every completed transaction, the bank provides clients with an updated list, and submits a complete financial report each quarter, so they can be kept abreast of their asset growth and speak to their financial advisor about any needed changes to their account.
Insinger de Beaufort is expanding the scope of their services, and offering their shoebox program to other international institutions. Perhaps it's a concept we'll see implemented here in North America where convenient business services thrive.