The phrase "physical branch" refers to a physical location or building where a business, usually a bank or a store, has a presence and offers its services to customers in person. Full definition
Due to its lack of physical branch locations, the application must be completed online. (valuepenguin.com)
However, the online banking model mostly avoids the heavy cost of maintaining physical branch locations, an advantage online banks leverage into reduced fees for their customers. (valuepenguin.com)
Banks were then ranked according to their total score and then by the specific number of states they have physical branches in. (gobankingrates.com)