An Unexpected Wave of Bank Closures Now Hits Florida

An unexpected wave of bank closures now hits Florida as more major branches are scheduled to shutter soon.

“Clients use digital banking more than ever for their everyday financial needs, and come into financial centers for more complex transactions or discussions about their finances.

So we have been adjusting our retail network where centers are located in close proximity to one another, or where client traffic has diminished significantly,” Bank of America said in a statement.

Between 2017 and 2021, 9% of all branches — almost 7,000 locations— shut their doors.

Florida had the fourth most bank closures of any state due to the massive customer demand for online banking.

The following bank branches are scheduled to soon close in Florida:

  • Wells Fargo. 1600 Ridgewood Ave, Holly Hill (added to the list this week).
  • Wells Fargo. 5849 Okeechobee Blvd, West Palm Beach (added this week).
  • Wells Fargo. 5355 Town Center Rd, Boca Raton (added this week).
  • Bank United. 1121 North Orange Ave, Winter Park (added this week).
  • US Bank. 515 North Flagler Dr, Suite 2100, Palm Beach
  • Wells Fargo. 12233 North Florida, Tampa
  • Wells Fargo. 219 Indian River, Ave, Titusville
  • Wells Fargo. 2307 Del Prado Blvd, Cape Coral
  • Wells Fargo. 3131 West Hallandale Beach Blvd, Hallandale
  • Wells Fargo. 10191 Cleary Blvd, Plantation
  • Wells Fargo. 113 South Tennessee Ave, Lakeland
  • Wells Fargo. 4901 Tamiami Trail, South Naples
  • Trustco Bank. 1084 Lee Rd, Orlando
  • Bank of America. 126 East Olympia Ave, Punta Gorda

In July, Wells Fargo laid off over 100 employees in Orlando’s consumer and small business banking division.

“Despite the push to digital banking, many customers prefer to do their banking in a physical location,” reports Ash Jurberg.

“There is a fear that closing so many branches can lead to ‘banking deserts’ and adversely impact communities.”

Also Read: A Massive Bank Now Closes Customer Account With Life Savings

Other Banking News Today

Market News Today - An Unexpected Wave of Bank Closures Now Hits Florida.
Market News Today – An Unexpected Wave of Bank Closures Now Hits Florida.

A massive US bank unexpectedly closes customer accounts in its latest scandal leaving the affected user unable to buy groceries.

The Bank of America customer has claimed that all of her credit cards were abruptly canceled with no warning even though she never missed a payment.

Jessica, a customer of 20 years, said she was ready to “eat the rich” for dinner when she couldn’t afford to buy her groceries, reports The-Sun.

In a video, the TikToker opened by saying she had been struggling to balance her financial debt with her credit card payments.

The hiked interest rates and increased cost of living left her in a critical situation, and she had to call Bank of America for some help.

She told the bank that she had been a valued customer who hadn’t missed a payment for 20 years and asked what her options were.

“I talked to them about one particular card that is just out of control,”
she said, explaining that the minimum amount required to pay each month was too high.

The bank offered her a deal that would give her a lower minimum and decreased interest rate for 60 months, but she had to cancel the credit card.

“So I’m like that sucks, but it’s OK because I have other cards,” she said.

Jessica explained that she had opened other accounts to supplement rent payments that she couldn’t afford at the moment and fund monthly subscriptions necessary for her job.

Before agreeing to the deal, Jessica said that she made sure to ask that her other cards would remain open.

She was thinking, in particular, of one credit card that has an 11% interest rate which is “unheard of.”

“You can’t get that anymore. It’s like a lifeline,” she said.

According to the TikToker, the bank employee assured her the other cards would be fine, so she took the deal.

But later during a shopping trip, Jessica was horrified when none of her cards would go through at checkout.

“With not so much as a message in the app, a phone call, an email warning, they canceled every single credit card that I have with them,” she said.

After a frantic phone call with her bank, Jessica said she learned Bank of America reviewed all of her other cards and decided to shut down the accounts.

Now, she’s wondering how the company has the power to cancel all of her credit cards without even giving her a warning.

Outraged by the incident, Jessica told her followers: “I’ve got nothing left to lose guys.

“I was already hungry, but thank you Bank of Scamerica for making sure that I’d be starving.

“So that when it comes time to eat the rich, I’ll have plenty of room for you.”

Also Read: A US Bank is Now Denying Customers Access to Money

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Market News Today - An Unexpected Wave of Bank Closures Now Hits Florida.
Market News Today – An Unexpected Wave of Bank Closures Now Hits Florida.

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