Most major banks are closing branches, but some are expanding or holding steady
The largest U.S. banks—Bank of America, Wells Fargo, Chase, and Citibank—have all announced branch closures over the past few years. Bank of America closed over 50 branches in 2023 alone. Wells Fargo has shut hundreds since 2020. But not every bank is shrinking. Some regional and community banks are opening new locations, and a few national players are slowing their closures or keeping branches open in specific markets.
The pattern depends on the bank's size, strategy, and where you live. Large banks are consolidating in cities and closing in rural areas and small towns. Smaller banks and credit unions often move in the opposite direction, opening branches where the big names leave. If you need a physical location for deposits, withdrawals, or account services, knowing which banks near you are staying put matters.
Key Takeaways
- Bank of America, Wells Fargo, Chase, and Citibank have closed hundreds of branches since 2020, with most closures in smaller cities and rural areas.
- Regional banks like U.S. Bancorp, PNC, and Truist are closing fewer branches than the largest four, though they are still consolidating in some markets.
- Credit unions and community banks are often opening branches in areas where major banks have withdrawn.
- You can learn about your bank is closing a specific branch by calling the branch directly, checking the bank's website, or asking at your next visit.
- If your branch closes, the bank will usually move your account to the nearest open location and give you 30 to 60 days' notice.
The four largest banks and their closure patterns
Bank of America has closed more branches than any other major bank in recent years. Between 2020 and 2024, it shut over 200 locations. Most were in areas with multiple Bank of America branches nearby, so customers could move to another location. The bank says it is shifting resources to digital banking and keeping branches in high-traffic areas.
Wells Fargo has followed a similar path, closing around 300 branches since 2020. Like Bank of America, it tends to keep branches in urban centers and close in smaller towns. Chase has been slower to close branches—it operates roughly 4,700 locations and has announced closures in select markets but not a company-wide reduction. Citibank has been the most aggressive, closing hundreds of branches and pulling out of entire regions, including most of the Midwest and parts of the South.
If you bank with one of these four, the risk of your branch closing is real but depends on your location. Urban customers are less likely to lose their branch. Rural and small-town customers face higher odds.
Regional banks that are staying more stable
U.S. Bancorp, PNC, Truist, and KeyBank operate fewer branches than the "Big Four" but have not announced the same scale of closures. U.S. Bancorp has closed some branches but continues to operate over 3,000 locations across the Midwest and West. PNC, which serves the Northeast and Midwest, has closed branches in overlapping markets but remains committed to physical locations in its core regions. Truist, formed from the merger of BB&T and SunTrust, has consolidated some redundant branches but is not exiting entire markets.
These banks are not immune to branch closures—they are responding to the same shift toward digital banking—but they are moving more slowly. If you live in the Midwest, Northeast, or Southeast, a regional bank may be a more stable choice for branch access than a national giant.
Credit unions and community banks filling the gap
Credit unions have been opening branches in areas where major banks have closed. Many credit unions are expanding because they serve specific communities or industries and do not have the same pressure to maximize profits that public companies face. If you are a member of a credit union, check whether it has branches near you or if it belongs to a shared branching network—most credit unions let members use branches at other credit unions for basic transactions.
Community banks—smaller institutions focused on a single region or city—are also growing in some markets. They often open branches in towns that lost their Bank of America or Wells Fargo location. Community banks typically offer personal service and local decision-making that larger banks do not, though they may have fewer ATMs and online features.
How to learn about your branch is closing
The most direct way is to call your branch and ask. Banks are required to notify customers before closing a location, but the notification often comes by mail and can be easy to miss. A phone call to the branch manager will give you a definitive answer and the timeline.
You can also check your bank's website. Most banks publish branch closure announcements in a news or press release section. Search for your bank's name plus "branch closures" to find recent announcements. If your bank has a mobile app, some include a branch locator that shows which locations are open.
If you receive a closure notice in the mail, read it carefully. The bank must tell you which branch will handle your account after the closure and how long you have to adjust. Most banks give 30 to 60 days' notice.
What happens to your account when a branch closes
Your account does not close. The bank will transfer your account to the nearest open branch, usually within the same city or region. You will keep the same account number, routing number, and all your funds. Direct deposits and automatic payments will continue without interruption.
You may need to update your address or contact information if the new branch is far away, but the bank handles most of the transition automatically. If you have a safe deposit box at the closing branch, the bank will move it to the new location or give you time to retrieve the contents. Ask the bank about this specifically if you use a safe deposit box.
If the new branch is inconvenient, you have the option to move your account to a different bank. Some banks offer incentives to customers whose branches are closing, so ask before you leave.
Alternatives if your bank is closing nearby branches
Online banks have no physical branches, which means they will never close a location near you. Banks like Ally, Charles Schwab Bank, and Discover have no branches at all but offer customer service by phone and online. They typically pay higher interest on savings accounts and charge no monthly fees. The tradeoff is that you cannot deposit cash in person—you deposit checks by phone camera or mail them in.
If you need both physical access and online convenience, consider a hybrid approach: keep a small account at a local credit union or community bank for cash deposits and withdrawals, and move most of your money to an online bank for better interest rates. Many people do this without problems.
Another option is to switch to a bank that has strong branch presence in your area. If you live in the Midwest, U.S. Bancorp or PNC may be more stable than Bank of America. If you are in the Southeast, Truist or a local credit union may serve you better.
Frequently Asked Questions
Can a bank close my account if it closes my branch?
No. Closing a branch does not close your account. The bank will move your account to another location and notify you by mail. Your account number and all your money stay with you. You will have time to adjust before the branch closes.
Will I lose access to my money if my branch closes?
No. You can access your money through ATMs, online banking, phone banking, and the new branch location. Most banks offer 24/7 access through multiple channels. If you need cash, you can withdraw from any ATM in the bank's network or visit the new branch.
Do I have to move my account if my branch closes?
No. You can move your account to a different bank if you want. Some banks offer incentives like cash bonuses to customers whose branches are closing. Ask your bank what options are available before you decide to leave.
Which banks have the most branches still open?
Chase has the most branches of any U.S. bank, with roughly 4,700 locations. Bank of America has around 3,600. Wells Fargo has about 3,200. U.S. Bancorp has over 3,000. The number changes as banks continue to close and consolidate locations.
Are credit unions safer than banks if I want a physical branch?
Credit unions are not "safer" in terms of your money—deposits are insured the same way at credit unions and banks. But credit unions are expanding branches in some areas while banks are closing them. If branch access matters to you, a credit union in your area may be a better choice than a national bank.