Wells Fargo will now close a surprising 35 branches soon which has left customers bewildered over their future banking.
“Wells Fargo is closing more than 35 bank locations within months – and customers are fuming,” reports The-Sun.
The bank has announced it will be shutting up shop at two more branches, one in Chicago, Illinois, and the other in Forest Hills, New York.
In September, the institution closed 25 locations, while another 15 shut down in October.
As of November 18, they have closed an additional 21 branches and are expected to carry out four more shutdowns next month.
Many took to X, formerly Twitter, to voice their concern over the string of closures.
“Damn. They closing the Wells Fargo on Grace Street,” one user said.
“That’s kinda crazy to me.”
Another weighed in: “I have been a Wells Fargo customer for twenty years.
“I will be closing all of my accounts now.”
The bank closed the shutters on its store in Richmond, Virginia, on October 28 and its Charlottesville and Sheboygan, Wisconsin branches on November 1.
It comes after around 1,000 Wells Fargo branches closed in 2022, according to the Wells Fargo 2022 annual report.
“The raft of closures was part of a $10 billion expense-reduction program that has seen almost 50,000 workers lose their jobs and a 6 percent reduction of branches.”
Along with branch closures, there have been scores of bank failures across the States.
The U.S. Sun recently reported that Georgia, Florida, and Illinois are the three states with the highest number of failures between 2000 and 2023.
Illinois has had 69 closures and Florida has had 76 in that time, according to a report from MyeListingcom.
Georgia topped the list with 93 bank failures since the start of the millennium.
Banks are increasingly investing more in their online platforms, as more customers are opting for online banking.
Also Read: A US Bank is Now Denying Customers Access to Money
Other Banking News Today
Chase transactions are now getting declined in the banks latest painful scandal as customer reports surge on Downdetector.
Several Chase customers have been reporting being unable to make purchases both online and in-person during the Black Friday events and specials happening this past weekend.
Chase reported to customers that the bank was having problems globally, a massive concern for those banking with the giant.
“I’m trying to take advantage of Black Friday deals for multiple items for a golf simulator bar I’m opening soon (TVs, CPUs, graphics cards and such).
Totally unimpressed but have taken screen shots of everything I’ve been declined to purchase due to issues today.
I hope they’ll make it right……otherwise I’m gone after many, many years,” says Pete, a Chase customer.
“Yep, failed to work for America Airline and Amazon Prime and it’s a Prime Card.
This is probably costing retailers hundreds of millions in sales.
I switched used another, but some might only have one option,” said another user on Friday.
“Saw a bunch 10ish $1 debits and credits to my transaction history, while trying to figure out why my card was being declined at AT&T while I paid my T-Mobile bill while waiting on a response from AT&T.
Called Chase and was told I would have to “call back in a few hours they are having global problems right now”.
If she would have said the sky is falling I would feel better,” says Tommy Reames.
Many Chase customers were not able to complete their purchases during Black Friday deals due to the banks technical difficulties.
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Also Read: The US Treasury Direct is Now Freezing Customer Accounts
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