Branch (banking)

[citation needed] The practice of opening satellite branches was popularized in the early 20th century by Amadeo Giannini, then head of the Bank of America.

Services provided by a branch include cash withdrawals and deposits from a demand account with a bank teller, financial advice through a specialist, safe deposit box rentals, bureau de change, insurance sales (where it is allowed by law), etc.

Some financial institutions, in an attempt to show a friendlier image, offer a boutique or coffeehouse-like environment in their branches, with sit-down counters, refreshments, interactive displays, music and play areas for children.

This regulatory hostility was codified with the enactment of the McFadden Act of 1927, which specifically prohibited interstate banking.

[7] In 1980 Article XVI, Section 16, of the constitution was amended to permit banks to have unmanned ATMs in the county of their domicile.

[7] These are typically branches located in a retail space such as a grocery, shopping malls or discount store.