BANK OF MONTREAL OPENS IN-STORE BRANCHES
By Adnews Staff
The Bank of Montreal is going retail. The bank plans to open branches in Canada Safeway grocery stores beginning this year. There will be 100 Bank of Montreal branches in Canada Safeway stores in Alberta, British Columbia, Manitoba and northwestern Ontario over the next four years. Four of those branches will open in Calgary by the end of 1998. The Safeway in-store branches will have longer hours than traditional branches, staying open during supermarket hours, seven-days-a-week. In addition to having bank employees on site, the branches will have an automated banking machine and an interactive kiosk with NetBanking facilities. Customers will also be able to check their Air Miles reward miles balances and make inquiries about financial planning tools. This isn't the first time the Bank of Montreal has set up services outside traditional bank branches. It has opened Pathway Financial Growth Centres in malls where customers can find financial information through videos, interactive software and literature. Two have been opened and two more are expected to open later this fall. The bank has opened investores in shopping malls. These outlets offer customers investment information and a range of money management products in a retail environment. Five are currently open and another four will open over the next year. The Bank of Montreal has also opened branches in remote communities in Canada Post outlets. The bank also has financial planning outlets in A&P/Dominion stores in Ontario.