Wells Fargo Speaks on New Painful Branch Closures This Year
Wells Fargo is now speaking on its new painful branch closures this year as the bank prepares to shut down three new locations.
The bank announced the closure of two banks in Virginia and one in Pennsylvania on Thursday.
It comes after the bank, which has over 4,000 branches across the country, has filed for over 100 branch closures this year, according to the Office of the Comptroller of the Currency.
In August, Journal Now reported that Wells Fargo is expected to close another 23 branches this year.
The two Virginia branches closing are in Richmond and Charlottesville.
The Richmond branch, located downtown in the city’s Monroe Ward, is set to close on November 1 at noon.
Customers will still have access to their funds through other locations and be able to manage their online banking without interruption.
“The closure of the Monroe Ward branch makes it the ninth Wells Fargo location in Richmond to close in the last few years, including two that will close on October 18,” reports TheSun.
Changes in consumer trends have been blamed for the widespread closures, primarily due to the heavy switch to online banking-only usage.
In an emailed statement the bank said: “This is not an easy decision or one we take lightly.
“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 Charlottesville location will also close on November 1, leaving just two remaining Wells Fargo banks in the region.
Bank of America has also stated many branches will now permanently close soon in due to the rapid popularity of online banking.
Also Read: A New Wave of Bank Closures is Hitting California
Trending Bank News Today
A US bank has now left customers with no money as users nationwide report being defrauded and locked out of their accounts.
More Green Dot Bank customers are speaking out against the bank in the latest scandal that has users trapped with no access to their money.
Other users are reporting funds being completely gone from their accounts.
These bank customers are losing access to hundreds and even thousands of dollars, which is rightfully theirs to begin with.
“Green dot took me and thousands of peoples money. None of us can access it. WE HAVE SHIITTT TO PAY,” said one user on Saturday.
“For the first 2 months of having Greendot everything was great. Then I go and try to use my card and it’s declined. The d*** b!** said to wait an hour or day. ITS BEEN A WEEK!! I feel terrible for the people who’ve lost hundred of $$,” says Anna.
“I’m going through the same thing. My funds are gone. I believe now the 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.
US Treasury Direct customers have also reported being unable to access their accounts.
Tammarra Johnson reported to FrankNez that TreasuryDirect has frozen her account ever since she made a deposit going all the way back to April.
“My account has been frozen since April right after I deposited $1,500 from a settlement. I mailed in the required form from my bank that was needed to unlock my account and it is still locked.
It’s sad to know financial institutions are basically taking citizens money like times aren’t already hard.”
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 ✨
Comments are closed.
Leave your thoughts below.