Chase is currently scheduled to close more branches in October according to a new report provided by branch employees.
In New York City, Chase is set to close two locations in the coming weeks.
The branch at 86 East 98th Street in Brooklyn’s last day is October 25.
And the 3804 Nostrand Avenue location, also in Brooklyn, will close on November 2.
“Existing customers will need to travel to the next closest Chase branch.
Some customers have taken to X to beg the the bank to open up more locations in their area.
The bank responded it “keeps track of popular requests through feedback and reviews expansion plans on a regular basis”,” reports The-Sun.
“Although bank closures aren’t unusual, the ripples of the pandemic and an economic downturn are making them too common.
There’s been an increasing number of closures and bankruptcies across every industry, big banks being the last players to fall.”
According to Kiplinger, Chase closed 144 branches last year while the entire industry saw more than 3,000 bank branches close down.
The-Sun reports that “many communities will be left in a “banking desert,” which means they lack access to a bank or credit union within 10 miles.
Low-income residents and the elderly are especially vulnerable to this issue, which makes them susceptible to predatory credit interest rates and lending.”
Online banking has been the primary reason as to why more and more traditional bank branches have increasingly closed down this year.
In fact, very few if any bank branches are expected to still stand within the next few years.
“The trend will likely continue as banks face staunch competition for deposits and younger customers from online banks, fintech firms and Big Tech,” reports Kiplinger.
Also Read: Chase Customers Now Unable to Access Money Through ATMs
Other Bank News Today
Customers are now reporting being unable to access money from a popular US bank.
Green Dot Bank has been 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.
“Unable to access my funds from Green Dot and they have no answers and send me to a specialist that has me on hold for hours and then they hang up on me,” said Jordan, a Green Dot Bank customer on Friday.
“I had my check go to this account and now my $2,500 dollars is gone.
They have told me from Tuesday they would refund me. Do Not Use this fake bank!!!!!!
WE need to report them to BBB Crooks in real life @GO2bank. Was on the phone for two hours, NOTHING,” reports Lori Chong.
Several retirees in the U.S. have been affected.
The bank, which has 33 million customers, initially said account balances and transactions were impacted by an issue with a payment processing partner.
Now, the bank says its systems are fully up and running – but customers say the problems persist.
Also Read: The US Treasury Direct is Now Freezing Customer Accounts
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.