DEFINITION of 'Off-Premise Banking'

Any bank location other than its main location that provides banking services of any kind that don't require tellers. Off-premise banking locations can be found in convenience stores, airports and shopping centers. ATMs can normally be referred to as off-premise banking locations.

BREAKING DOWN 'Off-Premise Banking'

Off-premise banking locations are usually very expensive to establish; however, they tend to be profitable entities for the bank over the long run. This is because they tend to have a superior cost-to-transaction ratio than traditional bank locations staffed by personnel.

RELATED TERMS
  1. Automated Teller Machine - ATM

    An electronic banking outlet, which allows customers to complete ...
  2. Branch Banking

    Engaging in banking activities such as accepting deposits or ...
  3. Bankers' Bank

    A special type of bank that is created by a group of banks. Bankers' ...
  4. Wildcat Banking

    The banking industry in parts of the United States from 1837 ...
  5. Home Banking

    The practice of conducting banking transactions from home rather ...
  6. High Street Bank

    A term originating in the U.K. to refer to large retail banks ...
Related Articles
  1. Personal Finance

    Why You Should Stick With The Big Banks

    Big doesn't always mean bad. We tell you four reasons why.
  2. Personal Finance

    Bank Teller: Job Description & Average Salary

    Learn the main responsibilities of an individual in a bank teller position, including training, education and skills required to be successful in the career.
  3. Small Business

    Tips for Choosing the Right Location for Your Business

    Discover five good tips concerning factors to carefully consider in the process of choosing the best possible location for your business.
  4. Personal Finance

    Bank Teller: Career Path & Qualifications

    Learn more about what it takes to become a bank teller and whether the position qualifies you for promotion into higher bank positions.
  5. Investing

    What's a Correspondent Bank?

    A correspondent bank is a bank that acts on behalf of another bank, usually a foreign bank.
  6. Personal Finance

    Retail Banking Vs. Corporate Banking

    Retail banking is the visible face of banking to the general public. Corporate banking, also known as business banking, refers to the aspect of banking that deals with corporate customers.
  7. Managing Wealth

    Don't Get Ripped Off at the ATM

    As our dependence on automated teller machines rises, so do those nasty little charges for using them. Here are some tips on bypassing fees.
  8. Investing

    Bloomin' Brands Sees a Big Future in Delivery

    Restaurant operator Bloomin' Brands (NASDAQ: BLMN), which owns Outback Steakhouse, Bonefish Grill, and Carrabba's Italian Grill has suffered along with much of its industry recently, but the ...
RELATED FAQS
  1. What's the average salary of a bank teller?

    Read this article to find out more about average bank teller salaries, median hourly wage rates and potential future career ... Read Answer >>
  2. What does it mean to invest in money center banks?

    Invest in foreign and domestic banks when you invest in money center banks. You'll find these financial centers in many major ... Read Answer >>
  3. What is the average profit margin for a company in the banking sector?

    Learn what the average profit margin is for companies in the banking sector, along with other evaluation metrics often used ... Read Answer >>
  4. What economic indicators are important to consider when investing in the banking ...

    Find out which economic indicators are most useful for investors in the banking sector, especially those influenced by central ... Read Answer >>
  5. What developed countries have the highest concentration in the banking sector?

    Learn about the developed countries that have the greatest concentration in the banking sector and the most important emerging ... Read Answer >>
  6. How ATM Fee Reimbursement Works (ALLY, EVER)

    Learn how ATM fee reimbursement works, identify some of the banks that offer it and understand the typical limitations that ... Read Answer >>
Trading Center