Category: bank closures

IN-DEPTH: Bank Branch Closures Leave Vacant Buildings, Inconvenienced Customers

July 7, 2023
bank closuresBusiness & MarketsBusinesses in COVID-19casheconomypersonal financereal estateUSUS NewsUS Real Estate
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When Pamela Bigelow, a lifelong resident of Duncan, Arizona, goes to the bank, she must make a day of it. Duncan, population 677, lost its last bank branch about six years ago. Now, when Duncan residents need cash, a cashier’s check, or to get a loan, they must travel 40 miles to the copper mining…

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American Banks Closed 273 Branch Locations in May

June 30, 2023
bank closuresBusiness & MarketsCompanieseconomyInvestmentMarketsonline bankingpersonal financeRegional & State NewsRegional NewsState NewsU.S. BankUSWells Fargo
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At least 273 bank locations closed across the United States in May, while 46 opened that month. Many major banks have announced that they’re closing down branches in 2023, as more and more customers are making deposits via their phones or to keep tabs on their balances, all without leaving their homes. Others still rely on…

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Major Australian Bank Starts Cutting Cash Services At Branches

April 7, 2023
ATMAustraliaAustralian Banksbank closuresBusiness & Marketscarbon creditcash paymentscashless societyCompanieseconomic policiesInternationalpersonal financewestpacWorld
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One major Australian bank has begun phasing out cash transactions at a number of its branches saying it is keeping up with the changing behaviour of customers. Australia and New Zealand Banking Group (ANZ)—one of Australia’s “Big Four”—revealed it would begin removing cash withdrawals and deposit services on March 30. Customers will only be allowed…

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Major Australian Bank Hurting Communities with Branch Closures

March 2, 2023
Australiabank closuresBusiness & MarketsCompanieseconomyMatt Canavanpersonal financeWorld
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One of Australia’s largest commercial banks has admitted that its decision to close branches in regional and rural areas has adversely affected local communities. During a Senate inquiry into regional and rural bank closures on March 2, Westpac bank’s chief customer engagement officer Ross Miller said the bank was aware that some of its customers…

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