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Respected Contributor
Posts: 3,711
Registered: ‎03-09-2010

The only time I go in my bank is when I need extra cash and don't want a bunch of $20 bills from the ATM. 

Honored Contributor
Posts: 8,086
Registered: ‎03-14-2010

@NYCLatinaMe wrote:

@drizzellla wrote:

Yes, several Wells Fargo bank branches have closed in our area. 

 

And the one closest to our house is on it's last breath. You still were not allowed into the bank without an appointment at least 6 months after things started to open up after Covid. The 2 lines for the drive thru was always backed up to the street with at least 12 cars in each line. 

 

But oddly 2 Chase Bank branches have opened within 3 miles of our house. Since they are so close to one another, you would think they were in competition with each other. But several other banks have also opened recently.

A Wendy's became a Bank of America. All the other new banks are new construction. 

But there were computer problems last week with deposits and withdraws. Wells Fargo is having their troubles.


 

@drizzellla Some years ago (I googled and I think it was 2012), we had so many banks in storefronts, that New York City restricted how much street frontage could be leased to banks.  The banks were crowding out the stores!  There would be four or five banks in a block.  Chase and Bank of America branches every other block.  The banks make so much money off fees that they just took a large number of storefronts in busy areas.  So we had no diners, no small grocers, no boutiques, no fast food, just banks.

 

So thankfully, at some point, the number of banks in each block went down.  Then we had nail salons...

 

Anyway, lots of empty storefronts since the pandemic.  I need to shop more locally, keep retail from dying.  Now the banks are going away too.  Banks wants us to use apps to make deposits.  But the true purpose of apps is to track people, find out their interests, and in what they spend their money, so they can sell us more.  I try to limit their use.  Don't use debit cards.




There were alot of banks popping up in the past several years in our area. But what was odd to me was that Chase built these 2 branches within the last year. And you read about Chase laying off employees in various departments recently. As you drive past the construction of 2 new branches.