Visiting your local bank branch is rare, and if you are there, chances are you aren’t having a good time. ‘We found that about one in twelve times that a customer visits a branch, it leads to them being annoyed, frustrated and irritated,’ said Gerard du Toit, partner at consultant Bain & Co., and co-author of a report on banking and technology. The report found that consumers have a more positive experience when doing mobile banking, which is more cost effective for banks. The report found that teller transaction costs are about $2 an interaction, while using a mobile device for transactions costs just pennies. He added that the U.S. probably has two times more bank branches than it will need just a few years from now.