What does "transformer banking" mean?

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Open Delta Bank

Open Delta Bank

Also, two transformers can be connected open wye to open delta to serve delta connected loads. Generally limited to smaller loads because transformer effectiveness is sacrificed.
 
The above posts are exactly correct.

It's generally referred to as a '3 phase bank'. It can be on a pole (utility), inside of a building, built into switchgear, etc.

If you look inside of a 3 phase transformer, you'll see 2, or more likely 3 individual transformers. We don't normally call this a bank, (though technically it is), because they're all in the same enclosure.

Loadwise, there's no difference between a 3 phase transformer and a 3 phase bank of the same KVA and voltage rating.

A 3 phase bank can be somewhat tricky to connect, as polarity of each transformer must be correct, if not then the primary short circuit/overload protective device gets an actual field test!
 
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