TD Bank is Closing 11 of Their Branches in the Philly Region!
TD Bank is Closing 11 of Their Branches in the Philly Region!
The pandemic has not only effected the restaurant and retail industry it has also forever changed banking. TD Bank has stated that since the pandemic more customers are preferring mobile and online banking than traditional branch banking. In response TD Bank is poised to close 81 branches spanning 15 states. 11 of those branches will be in the Philadelphia region.
However, only one TD Bank in the city that is scheduled to close which will be their Center City location at 111 S. 11th St. This location is scheduled to shutter on April 23rd. TD Bank stated that there just hasn’t been enough volume to keep these branches open. In a recent article by CNBC it showed that the banking industry experienced a booming 85% increase in mobile traffic and and astounding 200% increase in mobile banking registrations. In addition close to 91% of Americans have used mobile banking within the last 30 days. “According to Fidelity National Information Services (FIS), which works with 50 of the world’s largest banks, there was a 200% jump in new mobile banking registrations in early April, while mobile banking traffic rose 85%. With many branches closed and no tellers available, banks have also been dealing with a significant uptick in call center traffic, creating long wait time.”
