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What's going on with England's banks? (lemmy.sdf.org)

submitted 5 months ago by [email protected] to c/[email protected]

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Clueless American here. I saw a commercial for Nationwide bank promising the keep their branches open until at least 2028. Is there a push to close banks? Is this more fallout from Brexit?

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[–] [email protected] 0 points 5 months ago

When you think about it, it does make sense from the business point of view. Banks don't make money on individual customers, so the ones that use physical locations. They make money off corporate customers, who are terribly unlikely to ever need to talk to a clerk in person. And with individual customers moving to online banking, it's even less justifiable to run a physical location.