Hearing that your local Chase Bank branch is closing is never pleasant news. Unfortunately, Chase Bank has announced plans to close more branches across the United States.
This adds to the 650 branches they’ve already shut down in the last five years. They plan to close at least 23 more branches this year in various states, with some closures already underway. Here’s what you need to know about these closures and how they might affect you.
Chase Bank Branch Closures
California
- Riverside: 5060 Arlington Avenue (March 7th)
- Citrus Heights: 6950 Sunrise Boulevard (March 7th)
- Fresno: 7160 N. 1st Street (March 14th)
- Burbank: 1030 W Alameda Avenue, Suite D-13 (April 4th)
- San Lorenzo: 18499 Hesperian Blvd. (May 14th)
- Los Angeles: 2201 Westwood Boulevard (May 23rd)
Chicago
- Chicago: 3856 W 26th Street, Cook (March 15th)
Colorado
- Denver: 2251 South Monaco Parkway, Suite 102 (March 7th)
Florida
- North Lauderdale: 1319 State Road 7 (March 7th)
- Sarasota: 240 N. Washington Boulevard, Suite 100 (March 22nd)
Michigan
- Roseville: 30730 Groesbeck Hwy. (March 7th and April 5th)
Nevada
- Las Vegas: 2865 E Charleston Boulevard (May 16th)
New York
- New York: 42 Broadway (April 19th)
Illinois
- Chicago: 3101 West Cermak Road (March 15th)
- Skokie: 5200 Dempster Street (May 10th)
- Skokie: 4200 Dempster Street (May 10th)
- Wilmette: 50 Skokie Boulevard (May 10th)
Indiana
- Indianapolis: 7001 Madison Avenue (March 15th)
- Lafayette: 201 Main Street (May 16th)
Oregon
- Milwaukie: 10900 SE 21st Avenue (March 1st)
Washington
- Stanwood: 26603 72nd Avenue NW, Suite A (March 15th)
Why Are Banks Closing Branches?
Banks like Chase are closing branches because more people prefer to do their banking online. With more customers using online and mobile banking, the need for physical branches has decreased.
Banks save money by closing less profitable branches and can invest those savings in improving their digital services. This trend is expected to continue as banks focus more on technology and less on maintaining a large number of physical locations.
Opening a Chase Bank Account Online
Nowadays, you can open a Chase Bank account using just your smartphone. The rise of internet banking has made it unnecessary to visit a physical branch for many services. This shift helps banks save money on salaries, rent, and other expenses associated with maintaining branches.
However, the closure of branches can be challenging for people who rely on face-to-face banking, especially older individuals who may not be comfortable with digital banking.
Chase Bank’s decision to close more branches can be frustrating, especially for those who prefer traditional banking methods. While these closures help the bank save money and invest in technology, they can also pose difficulties for many customers, particularly the elderly.
It’s important to stay informed about these changes and explore online banking options to make the transition smoother.
1. Why is Chase Bank closing more branches?
Chase Bank is closing more branches because more people prefer online banking, reducing the need for physical locations.
2. How many branches has Chase Bank closed recently?
Chase Bank has closed 650 branches in the last five years and plans to close at least 23 more this year.
3. Can I still open a Chase Bank account if my local branch is closing?
Yes, you can open a Chase Bank account online using your smartphone or computer.
4. How will these closures affect customers who prefer in-person banking?
Customers who prefer in-person banking, especially older individuals, may find it challenging. However, Chase is investing in improving digital services to help with the transition.
5. Are there any new Chase Bank branches opening?
Yes, while closing some branches, Chase also plans to open 400 new branches in 25 different states.
