A HUNDRED banks across America have closed in the space of two months, with some of the biggest names leaving customers stranded.
The worst-hit state in the US lost nearly a dozen brick-and-mortar locations.
A hundred banks across America have closed in the space of two months, with some of the biggest names leaving customers stranded[/caption]
Huge banking institutions like Chase, Wells Fargo and Bank of America have taken heavy losses so far this year.
Between May 16 and July 16, America lost 105 bank branches alone.
Wells Fargo led the charge with 31 closures in the period, Bank of America lost 115, and Chase shuttered eight spots.
New York was the worst-hit state, losing 11 banks, followed by Texas and Pennsylvania with 10.
California lost nine bank branches and Florida lost eight.
It is important to note that banks are required to alert the OCC before shutting down a branch.
So while listings indicate that the 105 banks are intended to close, a final confirmation has not yet been given.
Darren Kingman from Root Digital told DailyMail.com: “Retail bank closures in the US aren’t slowing.
“The last time this many people shared a local branch was in 1995.”
GoBankingRates lead data content researcher Andrew Murray told the outlet: “The shift towards online banking is growing more intense in 2025.
“Despite the trend towards online banking, our survey data shows more than half of Americans are concerned about the rising number of physical branches that have shut down in the past few years.
“Meanwhile, a whopping 76 percent says that the current banking system needs small or major changes.”
BANK BLOW
Several other banks have closed down multiple branches in recent months, including TD, which closed 38 branches in the month of June alone.
Major states were impacted by this announcement, including the likes of Connecticut, Florida, Maine and Virginia.
How to contact your bank
WITH bank scams running rampent, it is important to know how to reach out to your bank without risking fraud.
There is of course the foolproof method of going to your bank in person, but you are likely going to be directed to a customer care phone line.
In order to ensure that you are contacting the bank, make sure to use a phone number given to you by the representative or off of the bank’s website.
Some banks also have online helplines that can securely connect you with a representative.
Conversely, if you think the bank is reaching out to you with an account issue – make sure to verify the concern by calling a bank contact that you know is legitimate.
Scammers commonly mascarade as bank representatives to steal information from frightened customers.
A representative for the bank previously told The US Sun that TD Bank regularly evaluates its existing locations, which “may result in some closures, consolidations, or relocations.
“As part of our ongoing strategic and business-as-usual reviews of TD’s retail locations, we evaluate things like store traffic, customer needs, product use, and community landscape to determine any needed changes to our physical network.”
“We are committed to making this transition as smooth as possible for our impacted customers and colleagues and look forward to serving them at one of our 1000+ TD Bank locations or through our digital banking products and services.”
Earlier in the year, 42 local branches closed within the space of just under a month, from April 1 to April 26.
A total of 14 different banks shut at least one branch in that time, with Flagstar topping the list at 16.
Behind Flagstar comes Bank of America with nine, with Chase and U.S. Bank both closing three locations each.
The rest were made up of Citizens Bank, Cumberland Valley, Fifth Third Bank, FSNB, KeyBank, Pacific Premier Bank, PNC, Warsaw FS, Wells Fargo and Zions Bancorporation.
Huge banking institutions like Chase, Wells Fargo and Bank of America have taken heavy losses so far this year[/caption]
