Bank of America Further Reduces Its ATM Network

By  |  July 31, 2012
 | 

A pair of small changes to the deployment of Bank of America’s ATM network are representative of a larger shift in strategy at one of the nation’s largest financial institutions.

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    Over the past several weeks, Bank of America has been removing its ATMs from two grocery store chains located in the southeastern U.S., according to Reuters: Harris Teeter Supermarkets, and Bi-Lo stores.

    Those two companies house a relatively small number of ATMs — roughly 60 between them, Reuters reports. But over the past year, BOA has reduced its total number of ATMs in the market by nine percent, down to 16,220 machines. Meanwhile, PNC Financial Services will add nearly 200 ATMs to Harris Teeter stores, the report says.

    Bank of America also says it will close 750 bank branches over the next few years; branch locations are already down three percent since June 2011, Reuters says. 

    Read the full story here.


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