All other banks are closing theirs because they're money pits that no longer serve any purpose. Even we have closed a bunch of branches, but at the same time, we're opening more. One new branch just opened in my area (Philly) and five more are planned to open soon. Why? What's the point?
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A video branch opened near me. Snazzy with a conference room for video meetings with advisors, teller if needed. Very low footprint with a video ATM.
The nearest full service is 3 miles away and they get.a lot of foot traffic. A line each time I go in though rarely. so still used in some areas in Texas.
"yesterday I learned that now bofa verifies call in users only through the bofa app. well if you lose your phone, you better hope there's a branch somewhere"
isn't that kind of a d-mb security system in the first place
does your phone lock its screen
i am sure there are other ways to verify your identity or at the very least freeze the account
Chase recently opened two new branches in my area. One in a building where a BAC branch closed.
doesn't serve any purpose? what the h is wrong with you? yesterday I learned that now bofa verifies call in users only through the bofa app. well if you lose your phone, you better hope there's a branch somewhere you can go to before some fraudster pulls all your $ out...gtho with 'doesn't serve any purpose' if anything, anyone with a branch nearby should consider themselves lucky and be thankful
Chase is actually opening far more branches
Bank branches follow the money within a certain radius of the location. Given the broad reshuffling of society in several major metro areas, they’re just closing down the branches that once were located in an acceptable area of wealth and opening new ones where new wealth has congregated in an attempt to soak up as much of that localized wealth as they can. That’s how bank branches have worked for decades. Glad you brought this up too, as it shows a bias in the media when they report about the banking apocalypse of branch closing. They don’t mention the branch openings in their articles..
It provides some executive team with cover for about 2 years. Create work; come up with reasons to defend the decision, once it fails. Get paid a lot of money.