A major bank chain will close two branches on the same street.
The closures will occur just a few weeks apart.
Wells Fargo is expected to close two branches on the same street in Richmond, Virginia.
The national banking chain will permanently close its 3501 West Broad Street and 8215 West Broad Street locations in the coming weeks.
The former is scheduled to close in mid-September and the latter will close on October 28th.
Broad Street is one of the longest streets in Richmond at 15 miles long.
The closing banks are only five miles apart.
Wells Fargo customers who want to bank in person have only one other option: Broad Street, 4901.
So why the closures?
According to Wells Fargo, this is because more and more customers are using online and mobile banking instead.
“We continually evaluate our branch network in light of changing customer needs, increasing use of digital banking and market factors,” the company said in a statement.
These Broad Street branches aren’t the only Wells Fargo locations in Virginia that are closing.
The bank will also close its satellite offices on East Grace Street in Richmond and Ivy Road in Charlottesville.
In fact, Wells Fargo is in the process of closing over a dozen branches across the United States.
OTHER BANK CLOSURES
But it’s not just Wells Fargo that’s closing branches.
Santander recently closed five banks in Pennsylvania.
The chain has cited similar reasons for the closures as its competitor.
“As in many industries, our customers’ preferences have changed and more and more customers are choosing to bank with us online,” Santander said in a statement to customers.
Meanwhile, Chase has closed five branches in Washington state.
And Bank of America is closing two locations in Texas, partly due to changing customer preferences.