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With branches becoming more like expensive billboards, banks are searching for lower-cost ways to maintain visibility in existing markets and raise their profiles in newer ones.
March 19 -
Huntington Bancshares is adding to its presence in West Virginia.
February 20
BB&T (BBT) is raising its profile in the Atlanta area by attaching its brand to automated teller machines in Rite Aid stores across the metropolitan area.
The Winston-Salem, N.C., company announced Tuesday that it is teaming up with the ATM operator Payment Alliance International to add its name to ATMs in 130 Rite-Aid stores. While Payment Alliance will own and operate the ATMs, the $181 billion-asset BB&T says the pact will benefit the bank by increasing its visibility while giving customers more locations to access their cash surcharge-free.
"The 130 new ATM locations in Rite Aid stores augment our existing branch and ATM network to provide convenient cash access locations throughout the Atlanta area," Brant Standridge, BB&T's northern Georgia regional president, said in a news release.
Several other banks are also adding ATMs in retail outlets in hopes of providing more convenience to customers. Huntington Bancshares (HBAN) is planning to add nearly 90 ATMs in Go Mart convenience stores in West Virginia. Last year, JPMorgan Chase (JPM) added roughly 600 branches in am/pm convenience stores in California.
