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B of A to Open Five High-Tech 'Express' Branches


Bank of America (BAC) has begun rolling out its new "express" banking centers, which combine on-site and remote tellers.

The first of the new branches opened in Manhattan in late August, and B of A plans to open five more in Boston, Charlotte and the New York City area by the end of the year, it said Tuesday. Whether it opens more express branches in 2014 will depend on customer feedback, B of A said.

The express branches feature ATMs with "Teller Assist," which lets customers speak with an off-site representative through the ATM. Onsite B of A employees will be available to help customers during normal working hours, and Teller Assist will make offsite employees available during nights and weekends, B of A said.

"We are working to make the customer experience with Bank of America reflect how people live their lives every day," said Katy Knox, retail banking and distribution executive, in the news release. "With the addition of express centers, our retail business offers customers more flexibility and convenience."

Over the past year, Bank of America has been selling off branches across the U.S., largely those in less densely populated areas, to community banks, as part of an effort to trim expenses.



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