Chase Now Announces New Unexpected Branch Closures

Chase bank now announces new unexpected branch closures which have been confirmed to shutter within the next three months.

The upcoming shutdowns are set to impact customers across the country, from California to New York.

But, it’s not all bad news for Chase bank users, reports The-Sun.

185 new branch locations are still set to open across the US this year.

The closures were announced in the weekly bulletins produced by the Office of the Comptroller of the Currency.

By law, banks must notify the OCC at least 90 days before closing down a branch.

According to the OCC, at least 24 Chase branches are due to close over the next three months with closures likely to come into force by February at the latest.

Branches in the states of California, Colorado, Michigan, Illinois, Indiana, and New York will shutter.

There will be bank closures in major cities like Chicago, San Diego, San Francisco, and Seattle over the coming months.

Branches across Ohio and Connecticut will also close.

“Chase has seen a raft of branch shutdowns over the year after bosses warned it would close more than 140 premises across the US.

The closures come in line with a shift toward online banking,” says The-Sun.

A spokesperson for the banking giant said the company has made significant investments in new branches.

At least 15 new branches have been scheduled to open over the coming months, according to the OCC’s bulletin published for the period November 11-18.

They stated that the company is on track to open a new branch every day in November and December.

“Our goal is not to have the most branches – but to have the right branches, in more communities, serving the financial needs of our customers,” said Chase in a statement.

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

Other Banking News Today

Market News Today - Chase Now Announces New Unexpected Branch Closures.
Market News Today – Chase Now Announces New Unexpected Branch Closures.

A bank customer now faces a painful eviction after their account was closed ‘without explanation’, according to new reports.

The Bank of America customer has shared how they were left with no money after Bank of America abruptly closed their account.

A Reddit user who goes by Jorose explained the hardships they went through after their bank account was suddenly closed.

On the r/banking subreddit, they explained that they had a direct deposit pending and all of their bills were due the week the account was shut down.

They wrote that they were left with no money for gas or rent and were faced with an eviction notice due to it.

Their car insurance went unpaid and their entire family’s phones were disconnected as the phone bill went unpaid as well.

Furthermore, the family was forced to go to a shelter for their meals.

“We feel insulted to be labeled as criminals, to be treated as such, and be put in such a position that has caused harm to my family for believing in this bank,” they wrote.

“I have never known what it’s like to be without money, especially all of a sudden, we are down on our luck after doing everything right.

The only thing wrong we did was trusting Bank of America with our money, harming our well-being and mental health, [and] forcing me to lose the ability to provide for my family as well.”

Bank of America told the customer that they had sent a letter notifying them of the closure, but the Redditor said it was stolen so they never got it.

Ultimately, the bank never disclosed the reason behind why it closed the customer’s account.

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

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Market News Today - Chase Now Announces New Unexpected Branch Closures.
Market News Today – Chase Now Announces New Unexpected Branch Closures.

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