In the coming months, Wells Fargo will close over 35 bank locations, much to the displeasure of its customers.
The bank has declared that two additional branches will close their doors, one in Forest Hills, New York, and the other in Chicago, Illinois.
The company shut down 25 sites in September and another 15 in October. As of November 18, they had shut down 21 more stores and plan to close four more next month.
Costumers Vent Frustration as Wells Fargo Closes its Branches
Meanwhile, numerous individuals expressed dismay on X, previously known as Twitter, regarding the recent series of Wells Fargo branch closures.
One user commented, "They're closing the Wells Fargo on Grace Street. That seems rather surprising to me."
Another customer shared, "I've been with Wells Fargo for twenty years. I'm now planning to close all my accounts.
According to OCC records, Wells Fargo has asked to close more than 100 of its more than 4,000 stores in the US this year alone.
A bank representative told the Daily Mail that while many branches are closing, a smaller number are opening in a few areas that are doing well.
They wrote that the total number of branches is still decreasing, but new branches are being opened in areas of existing markets that are seeing a lot of growth. It gives us more branch convenience.
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Wells Fargo Closes Branches as Online Banking Surges
Wells Fargo and other financial institutions are progressively shutting down branches nationwide, a trend influenced by evolving banking practices and the growth of online banking.
Meanwhile, a representative from Wells Fargo explained to Best Life in April, "Our customers are increasingly utilizing our digital services for their banking needs. Consequently, more transactions are now happening outside of our physical branches."
The spokesperson stated, "In response to this shift in customer behavior and the rising popularity of digital banking, we regularly assess our network of branches."
Over recent months, Wells Fargo has closed a total of 61 branches. It includes the closure of 25 locations in September and 15 in October. As of November 18, they have shut down 21 branches, with plans to close four more in the upcoming month.
List of Wells Fargo Branches to Close this Week
A Notice of Branch Closing must be sent to the Office of the Comptroller of the Currency (OCC) before a bank closes. At least 90 days must pass before the scheduled closing date for the site.
Every closing is written down in a weekly bulletin. Because the Advance Notice of Closing has to be sent 90 days ahead of time, the newsletters sent out in September include details about the Wells Fargo offices closing in December.
Along with news of effective closures and branch openings, the bulletins also have information on moves.
In line with the Office of the Comptroller of the Currency (OCC) bulletins, Wells Fargo has provided advance notice regarding the closure of four branches, each located in a different state. The locations slated for closure include 10011 Washington Boulevard in Culver City, California; 199 North Ocean Boulevard in Pompano Beach, Florida; 615 N 7th Street in Minneapolis, Minnesota; and 5703 Waters Avenue in Savannah, Georgia.
These upcoming closures are part of Wells Fargo's ongoing adjustments to its branch network.
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