Posted on 08/08/2024 11:44:16 PM PDT by Eleutheria5
Major U.S. banks including Chase, Bank of America, and Wells Fargo collectively closed more than 30 locations during a two-week period in July, a Daily Mail report revealed.
From July 14 to July 28, 33 banks were shut down throughout multiple regions of the country, with Florida being the state with the most closures.
Bank of America axed 11 locations, followed by Chase and PNC which closed seven each.
Axiom Bank, Capitol, Citizens, Dollar Bank, Lemont, and Zions Bancorporation locations also went down across states including Ohio, Virginia, Texas, and Colorado.
Bank of America has become the national bank with the most location closures this year, with more than 100 branches shutting down in just eight months.
In a statement to the Daily Mail, a Bank of America representative explained that the financial institution has recently finished its three-year project to modernize their on-the-ground business structure.
“These shifts in our branch network reflect that, more and more, our clients are using digital banking for their everyday financial needs and coming into financial centers for more significant needs or to have conversations about their finances,” the spokesperson said, adding that many of the closures are the result of consolidating branches.
Bank of America still has 3,800 branches, the representative pointed out.
Wells Fargo also provided a statement to the outlet, saying the corporation has been combining “two older existing branches into one better situated location.”
“Doing so does not take away the importance of our customers and the communities we serve,” the spokesperson assured.
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(Excerpt) Read more at breitbart.com ...
The ‘R’ in Wells Fargo’s name is silent.
Not in the song they made us sing in sixth grade.
Over the past couple of years Wells Fargo and Bank of America closed a lot of branches in Reno and Sparks.
Or a continuation of a downward trend that started during Obama's presidency.
Digital banking (especially mobile/phone/app banking) has rendered a lot of brick-and-mortar branch locations as utterly superfluous.
Many years ago, Citi stopped returning my canceled checks ("for your convenience") and instead sent a photocopy of my canceled checks.
Later, they stopped sending the photocopy ("for your convenience") unless I specifically requested it, provided I paid a $2 monthly charge.
Many companies are pressuring customers to go fully "paperless" because ... "for your convenience."
I haven’t walked into a bank in 10 years or written a check for anything, I pay everything on line, I am surprised that many more banks have not shuttered many more branches!!
Oddly enough, Chase opened two new branches in my area recently.
Oh my! The drama!!
In the third largest country in the world, with thousands of branches, 33 branches close!!!
Many more need to close as technology marches on. When I go into a bank now, it is almost empty. There is no need for most people to go to a bank. One can take a pic of a check and deposit using your phone. You can open an account using your phone or laptop, etc etc erc.
Bank of America closed their drive thrus 5 years ago. The few times I went into a branch, I was kindly lectured as to how I can do the transaction without coming to the bank.
Generally, only businesses really need to go to a branch. Anyway, a few dozen branches closing is not a big deal.
Many companies are pressuring customers to go fully “paperless” because ... “for your convenience.”
Just received notices on credit cards that there will be a 2 to 3 dollar charge each month if you remain with paper
Exactly same with me.
That is admirable and wise, but have you considered that means that: THERE IS NOT ONE TRANSACTION THAT THE BANK, GOVERNMENT, SOCIAL MEDIA IS NOT AWARE OF.
I am not finding fault, I am just saying that what I have for lunch, dinner, choice of clothes, trip to a entertainment venue,...are all on record.
I find that to be SPOOKY.
I use CASH when dining out. Just to put a personal touch on my life.
In 2016/2017 I asked my husband did he notice the unusual uptick in numbers of new physical banks… there were almost as many banks as there were pharmacies. Catchy names like movement bank, etc..
I guess it was the negative interest rates, like being paid to take dollars from the fed reserve was still strong.
Economics, especially our fake economy, as observed from being overseas in the late 80s, is nonsensical and manipulated by simple political tactics such as phone calls and strongly worded letter (wink wink).
The end of the petrol dollar, may be the key to ending the fake economy in the most painful way for everyday working Americans, (excluding insider trading congress).
They’re opening 5 new offices in my part of Florida and even building a new building for the one in my town.
Yes, there’s a new Chase up the road from me.
The Bank of America got rid of their drive-thru tellers years ago and removed all the machines for such.
I find it convenient to go on-line to check my banking - I only have paper coming to the house in case something happens to me and my wife has trouble with the on-line part - I can look at/print canceled copies of any checks, make changes to my escrow account for my mortgage , transfer money, etc., w/o having to stand in line. The only time I step inside these days is if I want more than $500 cash or need a registered check.
Discount Bank in Israel has been requiring us to make appointments to see officers, ever since Covid. Even to get an on-line app up you have to go in to see an officer, and for that you need to make an appointment, and at the branch where you have your account (in our case, Jerusalem), and to change account branches to the city where you now live is virtually impossible and not at all recommended, because you’ll have to move all your automatic payments to the new branch, too, and G-d help you if you wrote advance payment checks, such as to your landlord. I don’t know if they’ll be honored or not, and I hate going to Jerusalem to speak to these people, so only my wife has an on-line app and I don’t, but she needs me to read all the messages, because I’m fluent in Hebrew and she’s still learning. But I’d rather go through security at an airport than spending a day going to and returning from a long, exasperating talk with a bank officer or three.
Yeah, that too! But it doesn’t make a dramatic news story.
Wells Fartgo closed the two locations most convenient for me in Florida. I only go there once a month.
Those of you who haven’t written a check in years... How do you pay quarterly IRS estimates? As far as I know they don’t have any mechanism to pay that on line.
“The few times I went into a branch, I was kindly lectured as to how I can do the transaction without coming to the bank.”
I think I would have asked him/her why they were working so hard to lose their job.
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