7 new Wells Fargo branches will now close in California this month according to the latest data released by the Office of the Comptroller of the Currency (OCC).
While California has had the most bank closures out of any other state, we are still seeing an influx of closures nationwide.
It was reported in July that Wells Fargo will close its Flourtown, Montgomery County branch as more and more customers begin to switch to digital banking.
This is a trend we’ve seen all year as online-banking only banks attract an array of new customers primarily due to their high-yield offers.
“Wells Fargo has made the difficult decision to close the Flourtown branch on Wednesday, October 4, 2023,” according to a statement from the bank.
“Until then, customers can use each branch and bank with us as they always have.”
“This is not an easy decision or one we take lightly,” the bank said.
August had five Wells Fargo bank closures in California but had a total of 16 other bank branches shutter from Bank of America, JPMorgan, and others.
“Branches continue to play an important role in the way we serve our customers, and we continuously evaluate our branch network in light of changing customer needs, the increase in the use of digital banking and market factors, the bank stated.
In October, per OCC.gov, the following 7 California-based Wells Fargo bank branches are expected to close:
- 116 Sunset Dr, San Ramon
- 103 East Stetson Ave, Hemet
- 1565 East Highland, San Bernardino
- 118 E. Carillo St, Santa Barbara
- 1071 El Camino Real, Redwood City
- 303 N. El Dorado St, Stockton
- 42420 Washington Ave, Bermuda Dunes
Also Read: Wells Fargo is Now Freezing Bank Accounts in New Scandal
Other Bank News Today
A US bank is now denying customers access to money according to several reports from users.
Green Dot Bank is now facing fraud allegations from various customers who have been locked out of their account from weeks to months.
Many customers are having difficulty receiving a direct response from the bank’s customer service department, with many claiming to have been given the runaround.
“It been a month and i still haven’t been able to get my money from Walmart green dot. I have ask for a replacement card 4 time haven’t got a card yet my rent is do for last month and this month i think there trying keep my money,” says Marzell Land.
Green Dot bank has been freezing multiple customer accounts resulting in missed bills or the usage of high interest credit cards to get by.
“From Az have not gotten my money since Wednesday I have a family and bills I have to pay. I know when they fixed this problem I’m getting my money and I’m gone like the wind, this is not right .🌋🌋🌋🤬🤬🤬. Just got done going through pandemic now this,” says Bobby Rivera.
What is being done about it? Nothing so far, though many of these reports have been submitted to the Better Business Bureau (BBB).
“My funds are gone. I believe now the bank [Green Dot Bank] is holding it hostage. It’s my SS money and I can’t get it back, they keep extending the date.
I’ll get my new card with my money on it this has been going on since the August 1 and I was in the hospital when I was hacked..I want my money it’s mine not yours green dot,” says Sandra Machuga, who’s reported to FrankNez before.
Also Read: Banks Are Now Closing Thousands of Accounts Daily
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors. This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Become a Sponsor for only $1/mo.
- Gain access to EXCLUSIVE FrankNez articles you won’t find here.
- Become part of a private and safe Discord community, just for retail investors.
- Get drawn at the end of the year for holiday giveaways.
Recommended For You ✨
About The Author
Leave your thoughts below.