What is a Supermarket Bank? #retail #bank #supermarket #shorts

What is a Supermarket Bank?

"A supermarket bank, also known as a supermarket branch or in-store bank, refers to a small-scale financial institution located within a retail store. It is a satellite branch that offers a range of financial services to customers, similar to what traditional banks provide in their standalone branches.

The concept of a supermarket bank emerged as a way to enhance convenience for customers. By having a bank branch within the supermarket premises, customers can access banking services while they are already doing their grocery shopping. This eliminates the need for customers to make a separate trip to a bank branch, saving them time and effort.

Supermarket banks typically occupy a small footprint, usually between 400 and 600 square feet. Despite their compact size, they are designed to offer essential banking services. These services may include cheque deposit, cash deposits, withdrawing cash through ATMs or interactive teller machines (ITMs), opening accounts, applying for loan and seeking financial advice or assistance from the on-site staff."

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