Spar won the race to open the first bank inside a convenience store when the Bank of Scotland launched a pilot at a Botterill's store in Inverkeithing, Edinburgh, this week. The prototype bank at the relaunched 4,200 sq ft store has a cash deposit and withdrawal machine, business banking safe deposit, telephone banking point and a private interview room for customers. The 500 sq ft concession is the shape of the future for face-to-face banking in rural areas, according to the bank's project manager Alan Coats. He said: "As a new channel it gives us the opportunity to recruit customers outside the traditional banking market and build our presence in areas where it was not financially viable to enter as a branch." The Bank put £60,000 into the site, one-tenth of what it would cost to open a branch. It is based on a modular kit and elements can be added or taken out depending on location. The concession is staffed by the bank three days a week. At other times customers can make appointments through store staff. Spar retail development controller Barry Wallis said the opening would be the first in a series of banking related innovations. Botterill's md Jim Botterill said: "The convenience market is all about service now. We can't beat the supermarkets, but we can persuade customers to visit us more frequently through offering extra services." Rival Scottish convenience chain Morning Noon and Night, the first convenience chain to offer ATMs, is also developing in-store banks with the Bank of Scotland. And the Bank of Scotland, which operates the Sainsbury Bank, is behind new in-store banks on trial at Sainsbury's branches in Scotland. {{NEWS }}

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