Bank of America to close Washington location
Published 7:13 pm Thursday, May 16, 2019
Bank of America customers in Washington will have to travel to Greenville for many financial services beginning in August, as the company prepares to close its local branch. Bank of America confirmed that the branch at 1313 Carolina Ave. will close its doors for good on Aug. 20, and the Bank of America ATM on John Small Avenue will go with it.
Bank of America began sending local customers emails and letters informing them of the closing last week. In the email, the financial institution said, “We’re sorry for the inconvenience this closing causes” and recommended using online and mobile banking, direct deposit and banking by phone.
“We have thousands of ATMs and banking associates ready to help you at other locations, some right in your area: 317 Southeast Greenville Boulevard, Greenville, NC 27858,” the email read.
The closing comes amidst a rise in mobile and online banking and is part of a larger trend of branch closures within the company. According to a July 2018 article from CNN Business, Bank of America reduced its total number of branches by 28% in the course of a decade, down from 6,131 branches in June 2008 to 4,411 in June 2018.
“Every day, more customers use their mobile phone or online banking to do their basic transactions, and they come into our centers when they want advice and guidance for their more complex needs,” wrote Bank of America Senior Vice President of Corporate Communications Jennifer Darwin in a follow up email. “In some instances, this has resulted in the closing of financial centers, like this one. Our decision here is really based on the need to balance customer preference and opportunities for growing our business. We make every effort to accommodate employees at our other locations and within the company.”
As the number of brick and mortar branches close, Bank of America is pushing new digital options such as an artificial intelligence financial advisor called Erica and a digital payment service called Zelle. Bank of America, the second largest bank in the United States behind J.P. Morgan Chase, held $2.34 trillion in total assets as of February 2019.