Bank One to Invest $55 Million in New Branches and ATMs in Chicago in 2004

Friday 6 February 2004 15:16 CET | News

Bank One will invest more than $55 million in the Chicago area in 2004 to open new branches and add new automated teller machines as well as refurbish branches and replace some existing ATMs.

The investment continues plans begun in 2003 to expand the Chicago area branch network and replace the entire fleet of ATMs. In 2003, Bank One invested more than $30 million in adding and refurbishing branches and in adding and replacing ATMs here. Bank One plans to open 30 new branches and replace 550 ATMs in Chicago and the surrounding suburbs this year. It also will add about 50 new off-site ATMs in the area over the next two years. The additions will bring Bank Ones total number of area branches to 250 by the end of 2004 and the number of ATMs to 1,150 by the end of 2005. Including Northwest Indiana, Bank One will have a total of 280 branches and 1,250 ATMs in its Chicago market. Most of the new branches will be storefront locations, which provide convenient bank access in areas with high levels of foot traffic. Bank One opened 11 storefront locations in the Chicago area in December and a total of 20 new branches -- including storefront, free-standing and other locations -- in 2003. The storefront branches range from 3,000 to 4,000 square feet and include: -- A reception desk; -- Four to six teller windows or teller towers; -- Three to four offices where bankers can assist customers with investments services, mortgages or other loans; -- Two or more 24-hour ATMs and a night depository. The 50 new off-site ATMs will be located inside Walgreens drug stores and in other venues, and the ATM replacements will include 200 machines inside Bank One branches and about 350 inside Walgreens. The replacement program is part of a broader initiative begun last year to replace Bank Ones total ATM network nationally. In 2003, Bank One replaced 415 Chicago area ATMs. Bank One also added 74 new ATM locations in 2003, including 11 at Chicago Transit Authority train stations. All the new machines feature: -- Easy-to-use touch screens; -- Enlarged screens with full-color graphics; -- Voice prompts for the visually impaired; and -- Web capability that will enable easy addition of new functions ATM replacements are expected to be complete by the end of 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce