Major US bank has discreetly shuttered 132 branches this year - more than any other

Bank of America has closed much branches than immoderate different awesome slope successful nan first 9 months of 2024.

The banking elephantine shuttered 132 branches betwixt January and September, an study of charismatic closure information by DailyMail.com shows.

This importantly surpassed its competitors, pinch US Bank closing nan second-most branches astatine 101 during nan aforesaid period. 

A Bank of America spokesperson told DailyMail.com that galore closures progressive consolidating 2 adjacent branches into one.

But closing branches forces locals who trust connected in-person services to recreation further to scope nan nearest branch.

Banks must study each planned closures and openings to the Office of nan Comptroller of nan Currency (OCC), a national banking regulator. 

Each week, it publishes a summary of these. 

DailyMail.com analyzed these to compile nan specifications of full closures truthful acold this year. 

In total, much than 700 branches were shuttered, forcing thousands to recreation further to entree captious services.

If that complaint of closures continues for nan remainder of this year, somewhat much than 1,000 branches will person unopen crossed nan state by nan caller year.

Meanwhile, abstracted investigation precocious revealed that nan last beingness slope branch could adjacent successful nan US successful 2041.

Experts from Self Financial reached that fig by studying nan complaint of nett closures crossed nan country, which has averaged 1,646 each twelvemonth since 2018.

Bank of America defended nan closures.  

'Our financial halfway web is halfway to our business and gives america a strategical advantage,' a spokesperson said. 

'So acold this year, we person opened much than 40 financial centers crossed nan country. 

'We routinely set wherever our centers are located, based connected ft postulation into each location. Nearly each of nan closures successful 2024 person been to harvester 2 adjacent centers into one, aliases to move a financial halfway to a caller location to amended service our clients.' 

Research by GoBankingRates found 2 successful 3 seniors now for illustration mobile aliases online banking complete successful person. 

Meanwhile, 23 percent of adults 18 to 24 visited a slope conscionable erstwhile successful nan past year. 

'Our latest investigation connected nan early of banking has shown a increasing number of Americans - crossed each generations - are opting for mobile banking complete accepted banking,' Andrew Murray, lead interrogator astatine GOBankingRates told Daily Mail.com.  

'This each goes to show nan clear inclination that accepted banking is becoming overmuch little communal for Americans of each generations,' Murray said. 

Despite nan mostly of Americans now opting to do nan mostly of their banking online, customers still for illustration to usage beingness branches for peculiar services.

It is besides a struggle for immoderate older clients to run services specified arsenic mobile banking.   

Nearly two-thirds of Americans still usage a beingness branch to make rate deposits, while complete half usage them to speak to an in-person adviser, nan study found. 

39 percent of those polled told Self Financial that they had much spot successful banks pinch beingness branches than those without.