Major banks closed 46 branches in just TWO weeks – is yours affected?

American banks closed 46 local branches in the first two weeks of October alone.

The citizen bank was the one that closed the largest number of branches, with fifteen in just fifteen days.

Huntingdon closed eleven in the period October 1-14 and US Bank closed nine. Scroll down to see the full list with addresses..

The rest of the closures were made up of Bank of America and Wells Fargo, which closed four, and First National Bank of Texas and Chase, which closed one each.

Eight of the closures were concentrated in Illinois, the most affected state in the period.

Pennsylvania also suffered a large proportion of the closures, with seven recorded to close.

It comes after DailyMail.com revealed that banks had closed more than 700 branches in the first nine months of the year.

If the current pace of closures continues for the rest of the year, just over 1,000 branches across the country will have closed this year alone.

New research recently revealed that the last physical bank branch could close in the US by 2041.

Self Financial Experts reached the figure by studying the rate of net closures nationwide, which has averaged 1,646 each year since 2018.

Even though most Americans now choose to do most of their banking online, customers still prefer to use physical branches for particular services.

It is also difficult for some older customers to operate services such as mobile banking.

Nearly two-thirds of Americans still use a physical branch to make cash deposits, while more than half use them to speak with an advisor in person, according to the report.

39 percent of respondents told Self Financial that they had more trust in banks with physical branches than those without.

“Customer banking preferences and behaviors are changing, including a rapid migration toward digital and mobile banking platforms, and a desire for greater simplicity,” a US Bank spokesperson told DailyMail.com.

US banks closed a total of 754 branches in the first nine months of the year

US Bank closed nine branches in the first two weeks of the month

‘As we evolve alongside our customers, we are re-evaluating our physical footprint and, in some cases, consolidating branches in select markets.

“Although we are closing some branches, we continue to open and improve others, as well as rapidly improve our digital capabilities.”

The closures can generate significant savings for banks, with the average independent branch costing about $2.6 million a year to run.

Banks must report all planned closings and openings to the Office of the Comptroller of the Currency (OCC), a federal banking regulator.

Every week he publishes a summary of these. DailyMail.com analyzed them to compile details of total closures so far this year.