Latest news with #branchshutdowns
Yahoo
31-07-2025
- Business
- Yahoo
TD Bank Has Shut Down Dozens of Branches in 2025 So Far: Is Yours Next?
According to the U.S. Office of the Comptroller of the Currency (OCC), TD Bank has filed to close over 38 branch locations across multiple states, including New York, New Jersey, Pennsylvania, Maine and other states. For You: Check Out: These filings don't always guarantee immediate shutdowns, but they often signal shifting priorities in how banks serve their customers. In high-density urban areas, a closure might go unnoticed. But in smaller towns and rural communities, losing a local branch can be a bigger deal. For residents in these areas, the closure of a branch can also mean reduced access to financial advice, loan officers and other personal banking services that aren't easily replaced online. Find out which TD Bank branches are closing and what to do if one of those are near you. Why TD Is Closing Branches In a statement provided to us, a TD Bank spokesperson said the company evaluates branches using customer usage data and preferences, a standard practice across the banking industry. 'TD Bank is committed to enhancing banking access and is pleased to have recently opened three new store locations in New York and Boston,' the spokesperson said. 'As part of standard business practices across the banking industry, we evaluate stores across our footprint against customer usage data and preferences, which at times result in closures, consolidations or relocations. In those instances, we work to make the transition as smooth as possible for our customers and look forward to serving them at one of our 1,000 plus TD Bank locations or through our digital banking products and services.' Read Next: While TD said these decisions are data-driven, the broader trend is clear: more customers are going digital. According to its TD's 2024 annual report, the bank now serves more than 17.6 million active digital customers and the Canadian Bankers Association reports that 77% of Canadians conduct most of their banking online or through mobile apps. Seniors, small business owners and rural residents are among the groups more likely to depend on in-person services. Where Closures Are Happening So far in 2025, TD Bank has filed to close dozens of branches across multiple U.S. states. According to the U.S. OCC, closures include locations in New York, New Jersey, Pennsylvania, Maine, Florida, Massachusetts, New Hampshire, Connecticut, South Carolina, Virginia, Washington D.C. and more. Though these filings are concentrated in the U.S., TD Bank operates over 1,000 branches across North America. It remains unclear whether similar consolidations will follow in Canada. What To Do If Your Branch Closes TD hasn't released a full list of future closures, but if your local TD Bank location shuts down, your account will remain active, though your day-to-day banking may shift. You may be redirected to the next closest branch for teller services or account maintenance needs. Some locations may retain ATM or night deposit access, but you'll likely need to rely more heavily on mobile and online banking tools. Michael Hanson, regional vice president of banking and financial services at Quantum Metric, recommended that customers explore their bank's digital and alternative service options. 'Download the bank's mobile app or access online banking and other self-service tools through their website,' he said. 'In addition, reach out to the bank's customer service team for any assistance or questions regarding digital tools or processes.' For many customers, this shift is business as usual. But for those who depend on in-person teller services or small business banking, the transition may take some adjustment. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money This article originally appeared on TD Bank Has Shut Down Dozens of Branches in 2025 So Far: Is Yours Next? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
27-07-2025
- Business
- The Sun
All the bank branch closures including Lloyds and NatWest in August – is your local affected?
BANK branches continue to close across the UK at pace, with 17 more planning to shut their doors this August alone. In fact, so far in 2025, 423 branches have closed already from January through July. 1 A further 127 are expected to close between September and December as banks cut costs and push customers toward online services. According to consumer champion Which?, banks and building societies have closed 6,443 branches since January 2015, at a rate of around 53 closures each month. This represents 64% of the branches that were open at the start of 2015. The figures cover branches from 20 major current account providers, showing how widespread the cuts are. NatWest Group, including NatWest, Royal Bank of Scotland and Ulster Bank, has closed the most, with 1,477 branches shut since 2015. Lloyds Banking Group, which includes Lloyds Bank, Halifax and Bank of Scotland, shut 1,391 in the same period. Barclays alone has reduced its network by 1,236 branches, the most for any individual bank. Branch closures peaked in 2017, when 867 sites closed across the UK, more than 70 each month, followed closely by 792 closures in 2018. How Link is helping with cash access Thanks to pressure from campaigners, including Link, some banks have agreed to open voluntary banking hubs that offer face-to-face banking services for customers in areas affected by branch closures. These hubs let you: Pay and withdraw cash Check your balance Pay utility bills Top up gas and electricity Link recommends hubs in areas with at least 10,000 people and 70 shops, also considering local demographics, digital skills and transport links. A full list of operating banking hubs is available on the Cash Access UK website. If you think your area is under-served you can request a hub. First, you need ask Link for a 'cash access review' to check if services in your area are good enough. Who can ask? Anyone can make a cash access request, individuals, groups or organisations. You just need to make your request in writing, and help is available if you need it. You can complete the request form online or print it and post it to: LINK Scheme Ltd (Cash Access Request) Central House, Otley Road, Harrogate, HG3 1UF. When might a review not happen? If there's already an ongoing or recent review covering your area and the same cash services If there isn't a good reason to review the cash access services where you live If you are made aware of existing services nearby and decide there's no problem If you cancel your request in writing or by email Before asking for a review, check if there's a bank branch, Post Office or ATM near you. Post Offices offer Everyday Banking services including cash deposits, withdrawals and balance checks for many banks and building societies. Using the Cash Locator tool can help you find the nearest place to get or pay in cash. Link wants to make sure everyone can easily access and manage their money, so don't hesitate to ask for help if you think cash access in your area isn't good enough. Which banks are closing? Here are all the closures planned for August 2025: Bank of Scotland – one closure North Berwick: August 20 Barclays - one closure Hull: August 22 Lloyds Bank – one closure Leeds Crossgates: August 20 Santander – 14 closures Do you have a money problem that needs sorting? Get in touch by emailing money-sm@
