We reported last month that TD Bank is closing six Massachusetts branches in the first week of June. Now, Santander has said they will shutter six locations as well.
The two banks are unrelated, but the trend of bank branch closures isn’t.
Santander, which is a subsidiary of Banco Santander, a Spanish multinational financial institution, operates banks in Massachusetts, New York, New Jersey, Pennsylvania, Florida and others. They currently have 127 branches open in Massachusetts.
Another Mass. Bank Shutting Down 6 Locations
Santander Bank will close the following branches:
- Boston, at 346 Congress St.
- Middleton, at 39 South Main St.
- Norwell, at 69 Washington St.
- Salem, at 22 New Derby St.
- Woburn, at 19 Pleasant St.
- Worcester, at 655 Park Ave
Banking habits are changing and the future of the brick and mortar branches looks bleak, although no one expects them to disappear completely. Santander emphasizes that its investment in digital platforms will enhance services like mobile banking and ATM access, including those at CVS Pharmacy locations. -nbcboston.com
Why do branches close?
As the tech age and digital presence erodes our ability to actually communicate in person with one another, so goes brick and mortar bank branches. But seriously, people’s habits have changed as it gets easier to bank online; that’s one reason for the upcoming closures. Small businesses and the elderly are usually the most affected by brick and mortar closings…