Wells Fargo closes even more branches, from October 4

The popular consumer bank reduces its number of locations as customers require change.


Not long ago, Go to the bank was generally one of the weekly races on your task list. But thanks to new technology, it is now possible to get most of what you need using your phone or computer wherever you are, including cash checks or fund transfer. These modifications have led some large banks to fall back on their number of locations to help save money on their side. And now, Wells Fargo closes even more of its branches, from October 4. Read the rest to see which locations will be affected by the latest triggers.

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Wells Fargo closes more branches in the coming weeks.

wells fargo branch
Jonathan Weiss / Shutterstock

Wells Fargo customers will soon have fewer options for people at their disposal. The bank recently confirmed that it would close its branches Bosque Farms and Santa Teresa , New Mexico, October 4, the Business Journal Albuquerque reports.

The latest closures take place for months after Wells Fargo closed another site of the New Mexico in Santa Fe in May and only a few weeks after canceling its corraral branch on August 16. The bank originally announced the next components In regulatory documents to the Federal Office of the Currency Controller (OCS) in early July, which is necessary at least 90 days before any branches, according to the Business Journal Albuquerque .

"Branches continue to play an important role in the way we serve our customers, and customers continue to enhance the experiences they have in our branches", " Ruben Pulido Wells Fargo spokesperson said in a statement. "In addition, customers use our wide range of digital capacities for many of their banking needs and, therefore, more transactions occur outside the branch. As preferences and customer transaction models change, Our branches and experiences will have, "adding that the bank still had 57 branches through the New Mexico, including 23 in Albuquerque.

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The bank recently announced that it would close several dozen locations this year.

August 10, 2019 San Francisco / CA / USA - Wells Fargo branch in SOMA district
istock

New Mexico is not the only place where Wells Fargo will reduce its presence. The most recent West Deposits of the Popular Consumer Bank show that imminent closures will affect locations In 16 states ,, Daily mail reported on August 18.

The list includes six branches in California; Four each in Florida and Georgia; Three each in Pennsylvania and Virginia; And two in Colorado, Idaho, Maryland, New Jersey and Texas. It also includes one in Arizona, Minnesota, Nevada, Oregon, Washington and Wisconsin; and a location in Washinton, D.C., by Daily mail .

Above Other deposits Made since January, this means that the bank will close more than 100 of its 4,000 branches nationally this year.

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The bank states that it still extends its services in certain regions despite the decline.

wells fargo atms
LMWH / Shutterstock

At a time when scanning and tapping become more common means, the need for physical banking location may not be as pressing as they are. However, the company says that it is still aware of the needs of its customers and will ration its operations instead of fully withdrawing from many areas. AE0FCC31AE342FD3A1346EBB1F342FCB

"While the total number of branches continues to decrease, new branches are open in high growth neighborhoods of existing markets, allowing us to offer more convenience of branches," said a Wells Fargo spokesperson Daily mail in August. "We can also open new branches where we combine two older branches in a single location so located."

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Other large banks also reduce their branches nationally.

white person cashing check at bank
Shutterstock / Syda Productions

Even if Wells Fargo is perhaps the last to announce closures, it is far from the only big bank that has recently closed its doors. This spring, PNC Bank said that it would close 30 additional branches Through seven states by July, bringing the total losses for the year to 203 locations , THE Pittsburgh Business Times reported. And in April, Santander announced the closure of 17 of its branches, while JP Morgan Chase announced the part of three branches.

Vickonte's physical branch trend seems to acquire speed as more and more customers are heading for digital services. The data show that from 2017 to 2021 , 7,425 bank branches were closed nationally - resulting 9% of all locations, Insider Intelligence reported in March.

And it is not only human scrupoters who disappear: research also shows that automatic ticket distributors are decreasing. According to data from the Euromonitor research company, the overall number in the United States increased from 470,000 in 2019 to 451,500 at the end of 2021, by Daily mail .


Categories: Smarter Living
Tags: Finance / News /
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