Why Banks Use Shipping Containers and Modular Construction

Banks are an integral part of our daily lives, whether you visit a bank location in person or you do your banking online. Many banks all around the country rely on modular construction or shipping containers as part of their business continuity plans.

The Independent Banker says there are, on average, 42 locations per bank – meaning that most banks invest in more than 40 brick-and-mortar locations to further support their operations. Even with the rise in mobile banking, especially since the pandemic, new branches are still opening up. In fact, banks opened branches by the dozens in 2021.

Despite the convenience of online banking, branch banking remains the foundation on which many financial institutions rest. That’s due to several reasons. First off, many older customers who are not tech savvy still prefer face-to-face banking. Secondly, branches can handle requests that mobile banking simply cannot, such as opening or closing CDs or applying for a mortgage.

To accommodate the need for branch banking, there are many reasons why banks are using modular construction for their new facilities. Here’s a look at what modular buildings and shipping containers can be used for in the banking industry.

Quick Set-Up

When banks need to set up immediate branches to accommodate overflow or emergency situations, modular construction is fast, easy and affordable. Compared with traditional construction, which could take months to complete, modular buildings can be set up in days or weeks depending on size and modifications.

You can include just about any feature you need with containers or modular setups, such as drive-through teller windows, security features, safes and more. If the branch outgrows itself, it’s easy to add containers or walls quickly to double the space. With such a quick setup time, the advantage to this type of solution is unmatched.

Here are some of the things you can outfit your temporary branch with:

• Foundations for supporting heavy floor loads
• Specialized bullet-proof glass for teller stations and drive-up windows
• Alarm systems and CCTV systems
• Private offices and restrooms
• Heating and cooling systems
• Interior teller stations
• Handicap access ramps and stairs

 

Layouts Can be Changed

With the ability to add containers, stack containers or switch around walls in the case of modular buildings, layouts are never stagnant and can be changed as needed. This can happen frequently with branches, which may need to add features or remove them as needed. They can also expand, shrink or even pack up operations entirely if no longer needed.

You can even put the container on wheels and make it a mobile banking center. This way, you can service a multitude of locations rather than set up a permanent branch network. This is ideal for areas around college campuses and busy cities where consumer needs fluctuate.

So-called pop-up banks can be set up on the fly in high-traffic areas, becoming easily accessible to community members and ensuring high brand visibility as well as interaction. You can even use a container for an ATM only, placed on busy streets and shopping areas where people need quick cash.

Low Cost

Compared with a new build, shipping containers cost one-third to one-half of the cost of building a standard branch office. That’s impressive, considering the average new bank branch construction costs run between $500,000 and $3 million, with land costing about $1 million on average.

With shipping containers averaging about $5,000 each, you can do the math and see this is the more economical choice, even when adding multiple units and modifications.

Temporary Use During Disaster Recovery

In an emergency or disaster situation, shipping containers and modular buildings can be constructed quickly, in a matter of hours or days, to accommodate consumer needs. Most banks have a disaster recovery plan in place should a fire, tornado, hurricane or other natural disaster occur. If one of their permanent branches is destroyed or has been compromised in some way, a continuity plan to handle the aftermath is necessary.

If you know you won’t need the branch for long, shipping containers and their temporary uses sound like a no-brainer. Why invest in something that won’t be needed forever?

Energy-Efficient Footprint

Shipping container banks are designed with a more efficient footprint while housing all of the amenities of a full-service branch, including ATMs that can cash checks, dispense cash, and deposit checks or cash. You can even enable customers to open new accounts, order debit cards, or find out information on loans, CDs and other products.

Mobile banks can be moved or dismantled when no longer needed, leaving behind no abandoned buildings. Plus, shipping container materials are recyclable, which adds to their eco-friendliness.

Wrapping it Up

While brick and mortar banks still present a value, there’s more than one way to engage with your consumers. This is why the pop-up financial branch concept is so sought after. The use of shipping containers is revolutionizing the banking industry like it is for so many others, from medical to construction.

Before considering new construction for your new bank branch, it’s worth a look to consider whether a shipping container or modular building would be a better financial and practical choice for all involved.

Contact DRYBOX

Want to know how we can make it happen? Just call us. Here at Drybox, we offer a variety of shipping containers and office containers to accommodate your banking facility needs. Whether you need a mobile office for paperwork and administrative duties, or you need a few containers linked or stacked to act as an actual branch, we can help.

You can customize your bank branch with lockable door handles, teller windows, sturdy walls and roofs, weatherproof vents, restrooms, shelving, document storage, HVAC, and electronics. It all starts with a free quote so call us today at 866-549-9823 or complete our online form.