Bank leadership has continually hinted at layoffs and other budget cuts in the future. As of June 30, Wells Fargo (NYSE: WFC) was the fourth largest bank in the...
https://www.bizjournals.com/tampabay/news/2020/12/02/wells-fargo-continues-branch-trim-in-tampa-bay.html
To those that can't understand why branches are still needed:
Until we become a cashless society, we will still need banks. If you think that we've come close to it, how many signs have you seen recently about the change shortage and the need to use exact change.
There are people, for whatever reason they have, that cash their paychecks every week. Those in the food industry, landscapers, nail techs and barbers.
Convenience stores that need change.
The elderly, that still use cash and checks.
Contractors that paint, drywall and clean your homes. They all come to the branch to deposit or cash the checks they are given.
The general public that, when they are victims of fraud, or want to open an account, or have any type of maintenance done to their accounts because of death or divorce and hate "to talk to someone over the phone".
That is why branches are still open.
I agree, I haven’t stepped into a bank branch in over 8 years. The time I had to go into a branch was to update my bank’ credit card picture, which is now obsolete. If I ever were to walk into a bank branch, it’ll either be to close an account or I was day drinking and thought the bank was a good place for a nap.
My credit union (Wings) has everything digital so we e-signed everything last month to refi. Only had to into title company.
We went into our credit union (no way I'd bank at Wells) to sign mortgage papers.
They had to be notarized.
I'm pretty sure all that can be done electronically, but not everyone has the tech yet.
Good luck to any branch folks who may have been let go.
i used it when the check out person at a store lost my card and they cancel it and gave me a new temporary card.
Also used it to get a mortgage.
For what purpose do you need to go into them often?
I utilize banks often so...@ fgf+18e6zGcP
Who goes into banks nowadays? The only time in the past 2 years i’ve needed to go into a bank was to turn in change. Now they’ve removed those machines so zero reasons. I’d say in the last five years i could count on one hand the number of times i set foot in one.
wow sad, like they are selling the company off