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.