As extra individuals shift to dealing with their funds on-line, an rising variety of banks are taking out their brick-and-mortar branches, together with one which simply introduced it’s shuttering 19 branches within the state.
Boston-based Santander Bank firm alerted the Treasury Department final week about its plans to shut 19 branches throughout Massachusetts within the coming months.
“Like many industries, our customers’ preferences have changed, with more customers choosing to bank with us online,” the corporate stated in an announcement. “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.”
Boston might be seeing probably the most variety of Santander branches shut, with seven shutting their doorways. The closures will happen in late July and early August. Affected areas embody 585 Columbia Road in Dorchester; 67 Beacon St. on Beacon Hill; 31 St. James Ave. within the Back Bay; 6 Francis St. in Brigham Circle; 287 Hanover St. within the North End; 521 Tremont St. within the South End; and 176 Federal St. in Downtown.
Also closing are branches in Ayer, Bedford, Braintree, Chestnut Hill, Dracut, Holliston, Lawrence, Marlboro, Needham and Weston.
Customers at these areas have acquired notices within the mail with space branches that may act as “receivers.”
This is just not the primary time Santander has shut down a few of its branches within the Bay State, which has 165 areas presently, in response to the corporate. Figures from the Federal Deposit Insurance Corp. point out that the financial institution has shut down 36 areas within the state for the reason that COVID-19 pandemic.
Santander has recorded the third most department closures within the state throughout that point, with Bank of America main at 41 and Citizens Bank in second at 39, in response to the Boston Business Journal, citing knowledge from the FDIC.
“Our employees are valued by customers and the Bank alike,” Santander stated, “and we are working wherever possible to connect employees impacted by the consolidations with new roles through our talent tools and focused career sessions.”
Source: www.bostonherald.com”