Wells Fargo reveals three more branches to shut down on Nov 1 as ‘banking bloodbath’ sweeps nation

WELLS Fargo has confirmed further closures with three more branches set to close in November. A number of major banks are shutting down branches as technology increases the convenience of online banking and reduces the need for a physical location. Wells Fargo and a number of other banks have announced closures this year Google MapsThe bank which oversees over 4,000 branches across the country has filed for over 100 branch closures this year[/caption] Wells Fargo has announced the closure of two banks in Virginia and one in Pennsylvania. It comes after the bank which oversees 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. The branch in downtown Richmond in Monroe Ward is set to shutter on November 1 at noon. However, users will be able to take their business to the other branch located less than two miles away. 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. Changes in consumer trends have been blamed for the widespread closures. 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 second Wells Fargo closure announced for Virginia is in Charlottesville. The bank currently has three branches in the region but this is set to lower to just two as the Ivy Road location also closes on November 1. Meanwhile, on the same date, customers in Lehigh County, Pennsylvania will lose their branch on Airport Road due to decreased foot traffic. A statement from the bank to WFMZ said: “Wells Fargo made the difficult decision to close the Airport Road on Wednesday, November 1, 2023,” There will still be three other nearby branches that customers can use. Speaking to the Albuquerque Business Journal, Ruben Pulido, a spokesperson for Wells Fargo said: “As customer preferences and transaction patterns change, so will our branches and the experiences customers have in them.” However, concerns of a banking bloodbath have risen given other OCC filings from major banks including Associated Bank, Bank of America, and PNC. Bank of America has announced the closure of several branches over the past few weeks in San Marcos, Los Angeles, and Anaheim. Alongside this, PNC is set to close at least 203 branches by the end of the year. Meanwhile, Associated Bank is set to lose seven branches by November 17, leaving just over 190 locations. All banks blamed the closures of brick-and-mortar locations on increased banking technology. The U.S. Sun has contacted Wells Fargo for comment.

Wells Fargo reveals three more branches to shut down on Nov 1 as ‘banking bloodbath’ sweeps nation

WELLS Fargo has confirmed further closures with three more branches set to close in November.

A number of major banks are shutting down branches as technology increases the convenience of online banking and reduces the need for a physical location.

Wells Fargo and a number of other banks have announced closures this year
Google Maps
The bank which oversees over 4,000 branches across the country has filed for over 100 branch closures this year[/caption]

Wells Fargo has announced the closure of two banks in Virginia and one in Pennsylvania.

It comes after the bank which oversees 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.

The branch in downtown Richmond in Monroe Ward is set to shutter on November 1 at noon.

However, users will be able to take their business to the other branch located less than two miles away.

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.

Changes in consumer trends have been blamed for the widespread closures.

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 second Wells Fargo closure announced for Virginia is in Charlottesville.

The bank currently has three branches in the region but this is set to lower to just two as the Ivy Road location also closes on November 1.

Meanwhile, on the same date, customers in Lehigh County, Pennsylvania will lose their branch on Airport Road due to decreased foot traffic.

A statement from the bank to WFMZ said: “Wells Fargo made the difficult decision to close the Airport Road on Wednesday, November 1, 2023,”

There will still be three other nearby branches that customers can use.

Speaking to the Albuquerque Business Journal, Ruben Pulido, a spokesperson for Wells Fargo said: “As customer preferences and transaction patterns change, so will our branches and the experiences customers have in them.”

However, concerns of a banking bloodbath have risen given other OCC filings from major banks including Associated Bank, Bank of America, and PNC.

Bank of America has announced the closure of several branches over the past few weeks in San Marcos, Los Angeles, and Anaheim.

Alongside this, PNC is set to close at least 203 branches by the end of the year.

Meanwhile, Associated Bank is set to lose seven branches by November 17, leaving just over 190 locations.

All banks blamed the closures of brick-and-mortar locations on increased banking technology.

The U.S. Sun has contacted Wells Fargo for comment.