Citibank Opens Financial Center in Grand Central

Citibank has opened a retail financial center in New York's busy Grand Central Terminal.

Unlike an ordinary retail branch, the center has no traditional tellers. Four investment counselors, who will staff it from 7 a.m. until 7 p.m., will provide some teller services. In addition, there are 20 automated teller machines.

The investment counselors offer products including the bank's Landmark family of mutual funds, zero coupon bonds, and discount brokerage services.

The branch, which was operating for several months before the official opening last week, is one of several sites Citibank is testing for a revamped retail delivery system.

The opening is part of Citibank's effort to expand its franchise into upscale Westchester County, which lies just north of the city. The site is one of Citibank's first in New York to accept other banks' cards, under a pact signed this year with Cirrus System Inc.

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