The Bank of America ATM pullback continues with the FI's removal of ATMs from two grocery store chains in the Southeast.
A report by Reuters said that the nation's second-largest bank has been pulling machines from Harris Teeter Supermarkets Inc. and Bi-Lo LLC locations last month and this month. Bank of America spokeswoman Tara Burke confirmed the report. The bank is removing 36 ATMs from Harris Teeter stores and 25 from Bi-Lo locations.
Burke told Reuters that the bank is focusing on offering customers full-service automated teller machines that offer 24-hour access (which was not available at all the grocery locations). She said BofA expects to add more machines in the future.
Last week, ATM Marketplace reported that Bank of American had pulled its ATMs out of Simon Malls and Valero convenience stores, trimming its fleet by 9 percent. In an announcement yesterday, PNC and Cardtronics said they were partnering to deploy PNC branded machines at nearly 200 Harris Teeter locations.
Bank of America is in the midst of an $8 billion cost-cutting program which includes not only the reduction in ATMs, but also the anticipated sale of about 750 branches.
For more on this topic, visit the installation/deployment research center.