21 new bank branches will now be closing nationwide this fall according to the latest reports by The-Sun.
Amongst those bank branches will be Chase, Bank of America, and Wells Fargo, which have already closed in several states this year, including California.
Between 2017 and 2021, about 7,000 branches – or 9 percent of all banking locations – shuttered, according to Insider Intelligence.
“Of the branches closing this fall, many have a second location in that city that will remain open.
Bank of America is shutting branches in three California cities, including Los Angeles, where other locations will remain open.
Santander, meanwhile, has announced that it is closing locations because more customers are banking electronically,” reports The-Sun.
“Like many industries, our customers’ preferences have changed, with more customers choosing to bank with us online,” Santander said.
“Therefore, we are reimagining the customer and employee experience by simplifying our processes, refining our branch footprint, and increasing our investment in digital capabilities to align with the evolving needs of our customers.”
Wells Fargo released a similar statement: “We continuously evaluate our branch network in light of changing customer needs, the increase in the use of digital banking and market factors.”
The company is closing five branches in Virginia, one in Pennsylvania, and seven in California.
“Chase is slated to shutter three branches in California.
City National Bank will close four locations in California as well.
First Citizens Bank will shut down a North Carolina branch this fall.
Overall, California is losing more than 20 bank locations in the coming months.”
While many bank branches have closed in California, states such as New York and Illinois have also been hit at a fast pace of closures this year.
The growth of online banking has been the primary reason for such changes.
Also Read: The US Treasury Direct is Now Freezing Customer Accounts
Other Bank News Today
More US banks are now freezing and closing accounts according to several new reports from Chase customers, Credit Karma (MVB Bank), and others.
Last week I reported Eric Begley said his family of four are being affected by Credit Karma’s bank partner, MVB bank and are on the brink of being evicted.
His payroll has been frozen and the family is working with local state reps to look into the problem.
“Our family with 2 children are being evicted Monday so please everyone pray for our family that this gets resolved for us asap.
C.K. is purposely holding up these simple routing numbers & now my family’s lives are suffering.”
Keith Sowder says his family is experiencing the same problems with Chase, Credit Karma’s bank, and Cash App.
“This is happening to my Wife and I even as we speak…with THREE different Financial institutions. Cash app, Chase and Credit Karma.
Cash app froze her acct. in Jan. 2022, claiming there had been a security breech. They sent her a total of EIGHT cards…none of which worked they “claimed” because she didn’t receive and attempt to activate them in time.
Her money shows up as still there…she just can’t access it. Chase claims she had several fraudulent purchases she disputed, close her acct. and was going to send her her $1,700 in that account…that was in JUNE!
Still haven’t seen it ! Finally, she opened an account with Credit Karma…same deal, they froze that account for NO reason!
If anyone has any ideas on who we need to contact to get her access to her money…and to make these BASTARDS PAY….please let me know ! We have contacted Attorneys and State Reps…with absolutely NOTHING being done! Thanks!”
Also Read: Banks Are Now Closing Thousands of Accounts Daily
Retirees Are Also Being Affected
Beth Williams, 78, says she’s been a WMC cardholder for 10 years now and has been unable to gain access to her WMC/Green account for 20 days now.
What’s more alarming is that prior to the bank freezing the retiree’s account, who says lives on Social Security, she noticed two unauthorized charges prior to reaching out to the bank.
“Since August 4th I have been unable to access my WMC debit card account. On August 3rd I noticed 2 unauthorized charges & immediately contacted WMC/Green. My account had to be frozen per CS/ RESOLUTION dept.
I have been calling and spending hours on hold to reach CS trying to find out when my expedited replacement card is arriving! CS has given to me 4 extended dates when I’ll get my replacement card.
The flimsy CS explanations: 1st-upgrade system & 2nd having technical difficulties! I was told today by CS that the card is to arrive on or before August 27th, and by standard mailing. I am panicking and afraid that I’m being lied to,” she reported to FrankNez.
We’ve asked Williams to keep us updated on the bank’s decisions so we may provide readers with more information who might also be seeking for solutions.
Unfortunately, Williams isn’t the only one being affected; the same bank is freezing accounts with users also reporting several weeks of being locked out.
“I have been going through the same thing with green dot. My funds were hacked at the beginning of August, and I’ve got nothing but the run around from them. They keep telling me my card is on its way. It was supposed to be here August 23 now they’re saying the 31st..I’m on SS and they’re holding my money hostage. What is going on!!” Sandra Machuga reported to FrankNez.
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Related: Bank of America is Freezing Accounts in New Scandal
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