Bank Closures Continue in the United States as Online Banking Gains Popularity
In recent days, several major banking institutions in the United States have announced the closure of various branches. Wells Fargo, Bank of America, Chase, Santander, and First Citizens Bank are among the banks that will be closing some of their branches in the coming weeks.
The reason behind these closures is the increasing popularity of online banking operations, which has significantly reduced the number of customers visiting physical branches in certain areas of the country. Many industries, including banking, have witnessed a shift in customer preferences towards online services. This shift has prompted banks to reimagine the customer and employee experience by simplifying processes, refining their branch footprint, and investing more in digital capabilities.
Santander addressed the affected customers in a statement, saying, “Like many industries, our customers’ preferences have changed, and more and more customers are choosing to bank with us online. Therefore, we are reimagining the customer and employee experience by simplifying our processes, refining our branch footprint, and increasing our investment in digital capabilities.”
Wells Fargo also acknowledged the changing trends in banking and emphasized the increasing use of mobile banking. They stated, “Branches continue to play an important role in the way we serve our customers, and we continually evaluate our branch network in light of changing customer needs, the increase in the use of digital banking, and market factors.”
Here is a list of the bank branches that will be closing in the coming weeks:
Wells Fargo:
– Virginia:
– 122 East Grace Street, Monroe Ward: Closes November 1
– 3501 West Broad Street: Closes mid-September
– 8215 West Broad Street: Closes October 28
– 2100 Ivy Rd, Charlottesville: Closes November 1
– Pennsylvania:
– Airport Rd, Allentown: No specific date for closure
– California:
– Redondo Beach: Closes September 13
– Closings in October:
– 116 Sunset Dr, San Ramon
– 103 East Stetson Ave, Hemet
– 1565 East Highland, San Bernardino
– 18 E. Carillo St, Santa Barbara
– 1071 El Camino Real, Redwood City
– 303 N. El Dorado St, Stockton
– 42420 Washington Ave, Bermuda Dunes
Bank of America:
– California:
– Closings in October:
– 2925 Scott Blvd, Santa Clara
– 200 Cochrane Plaza, Morgan Hill
– 1275 Fell St, San Francisco
– 3491 McKee Rd, San Jose
– 1400 Moraga Way, Moraga
– 2049 Century Park East, Los Angeles
City National Bank:
– California:
– Closings in October:
– 50 Freemont St, San Francisco
– 800 Silverado St, La Jolla
– 1800 Century Park East, Los Angeles
– 1100 Flynn Rd, Camarillo
Chase:
– California:
– Closings in October:
– 23220 Hawthorne Blvd, Torrance
– 1 Hacker Way, Menlo Park
– 150 W. Foothill Blvd, Azusa
First Citizens Bank:
– North Carolina:
– 20310 W Catawba Ave, Cornelius: Closing October 5
Santander:
– Pennsylvania:
– 4452 Oakhurst Blvd, Susquehanna Township: Closing September 14
The closures reflect the changing landscape of the banking industry, where online services are becoming increasingly prevalent. As customers continue to embrace the convenience of digital banking, it is likely that more branches will face closures in the future.