THERE are only a few days remaining until a major bank closes a key location as more and more customers opt for online banking.
A Santander bank branch in Harrisburg, Pennsylvania, is scheduled to shutter on September 14.
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The location is scheduled to be consolidated with a nearby branch in East Pennsboro Township, according to Penn Live.
The move by Santander follows a larger trend of banks closing physical branches as more consumers prefer online banking services entirely.
Santander, originally founded in Spain, operates more than 600 banks all across the country.
But in the coming years, the financial institution says it plans to put an increased emphasis on digital operations to get more in line with current consumer preferences.
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“Like many industries, our customers’ preferences have changed, with more customers choosing to bank with us online,” the bank said in a statement.
“Therefore, we are reimagining the customer and employee experience by simplifying our processes, refining our branch footprint, and increasing our investment in digital capabilities to align with the evolving needs of our customers.”
Four other Santander branches closed in Pennsylvania this year, including those in Cumberland, York, and Lancaster counties.
And five central Pennsylvania branches also shuttered last fall in Dauphin, Lancaster, and York counties.
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Santander joins a long list of other banking institutions that are closing several physical branches.
Wells Fargo, for instance, is closing four branches in Richmond, Virginia.
However, two other nearby local branches will be closing their doors as well.
The bank decided to take this course of action after experiencing a decline in physical bank visits, with much of its consumer base doing their banking entirely online.
“This is not an easy decision or one we take lightly,” Wells Fargo said in a statement.
“Branches continue to play an important role in the way we serve our customers, and we continuously evaluate our branch network in light of changing customer needs, the increase in the use of digital banking, and market factors.”
Bank of America, which operates 4,000 branches nationwide, will also be closing down a location in Stamford, Connecticut.
"Our financial center network is core to our business, and we are constantly adapting our financial center and ATM networks to fit our clients’ changing needs,” Bank of America said in a statement.
Remaining employees will be transferred to different locations when the store officially closes.
And PNC Bank is closing more than 200 locations this year alone despite being the sixth largest bank in the country.
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Three states have experienced the highest number of bank failures between 2000 and 2023.
Meanwhile, CVS is closing yet another underperforming location after looking to slim down its feet to more successful stores.
