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Major banks closed 46 branches in just TWO weeks - is yours affected?

G.Perez29 min ago
US banks closed 46 local branches in the first two weeks of October alone.

Citizens bank closed the most locations, shuttering fifteen in just a fortnight.

Huntingdon closed eleven in the period October 1 to October 14, and U.S. Bank closed nine. Scroll down for the full list with addresses

The rest of the closures were made up of Bank of America and Wells Fargo, who both closed four, and First National Bank of Texas and Chase who each closed one.

Eight of the closures were concentrated in Illinois , the worst hit state in the period.

Pennsylvania also suffered a large proportion of the closures, seeing seven registered to close.

It comes after DailyMail.com revealed that banks had closed more than 700 branches in the first nine months of the year.

If the current rate of closures continues for the rest of the year slightly over 1,000 branches will have shut across the country this year alone.

New research recently revealed that the last physical bank branch could close in the US in 2041 .

Experts from Self Financial reached the number by studying the rate of net closures across the country, which has averaged 1,646 each year since 2018.

Despite the majority of Americans now opting to do the majority of their banking online, customers still prefer to use physical branches for particular services .

It is also a struggle for some older clients to operate services such as mobile banking.

Nearly two-thirds of Americans still use a physical branch to make cash deposits, while over half use them to speak to an in-person adviser, the report found.

'Client's banking preferences and behaviors are changing, including a rapid migration toward digital and mobile banking platforms, and a desire for greater simplicity,' a spokesperson for U.S. Bank told DailyMail.com.

'As we evolve along with our clients, we are reevaluating our physical footprint, and in some instances, consolidating branch locations in select markets.

'Although we are closing some branches, we continue to open and enhance others, as well as rapidly enhancing our digital capabilities.'

Closures can lead to significant savings for banks, since the average freestanding branch costs around $2.6 million a year to run.

Banks must report all planned closures and openings to the Office of the Comptroller of the Currency (OCC) , a federal banking regulator.

Each week, it publishes a summary of these. DailyMail.com analyzed these to compile the details of total closures so far this year.

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