Digitalization is shaking our societies harder than ever, and now everything is much faster with just a simple click. We buy, return, talk, and now also manage our finances with a click.
While a few weeks ago we talked about the digitalization of Bank of America, today it’s TD Bank’s turn, another one of the most important financial institutions in the country and a subsidiary of the Canadian group TD Bank Group, who have announced that 38 of their branches spread across 10 different states will close their doors in the coming months. What is going on?
TD Bank is giving way to digital banking
That’s the main reason behind the closure of these branches. Digital banking is very convenient to use, and the new generations entering the labor and economic world barely go to branches anymore unless they really need to. We’ve gotten used to carrying everything as close as in our hands, and customer habits are changing.
So, many banks are opting to redesign their network to better adapt to current needs, and that’s where the closure of branches comes in.
Changes driven by technology
As we said, most customers prefer to use technology instead of personally going to physical branches. Mobile apps, ATMs, or virtual customer service mean that going to a physical branch no longer makes much sense for us (the digital native generations).
Strategic adjustments
That’s right. The U.S. headquarters of TD Bank, located in Cherry Hill (New Jersey), confirmed that this measure is only part of a routine performance and geographic distribution review of branches, although, it’s clear that the volume of simultaneous closures does set a precedent.
What will happen now with customers and employees?
Unfortunately, employees will have to look for another job, and TD Bank customers will have to turn to alternative banks or digital banking to carry out their transactions.
And what about those who don’t adapt?
It’s a question that remains open with this type of change. Every time something closes because it will be implemented through technology, we increase the digital divide, the one that separates us from our elders who still don’t understand mobile phones or computers, or who, in most cases, still have phones with buttons like the Nokias from the 2000s.
It seems that for them, the real world no longer exists, or that they don’t deserve the same attention as someone who does understand current technologies.
Which states will be most affected?
Connecticut
- 1289 Foxon Rd., North Branford
- 215 High St., Torrington
- District of Columbia
- 1611 Wisconsin Ave. NW
Florida
- 1590 South Nova Rd., Daytona Beach
- 160 NW Main Blvd., Lake City
- 500 Collins Ave., Miami Beach
Maine
- 112 Main St., Fairfield
- 62 West Main, Fort Kent
- 95 Main St., Gorham
- 6 North St. (P.O. Box 713), Houlton
Massachusetts
- 860 South Main St., Bradford
- 465 North Main St., East Longmeadow
- 420 Franklin St., Framingham
- 50 Holyoke St., Holyoke
- 547 Broadway, Methuen
- 2345 Main St., Tewksbury
New Hampshire
- 10 North Main St., Bristol
- 884 Main St., Contoocook
- 40 High St., Hampton
- 905 Elm St., Wilton
New Jersey
- 85 Pompton Ave., Cedar Grove
- 1 Royal Rd., Flemington
- 670 Laurel Ave., Holmdel
- 191 East Rte. 70, Marlton
- 145 Skyline Dr., Ringwood
- 555 Warren Ave., Spring Lake Heights
New York
- 460 Pulaski Rd., Greenlawn
- 156 Dolson Ave. Unit AB, Middletown
- 125 Park Ave., New York (Manhattan)
- 451 Lexington Ave., New York (Manhattan)
- 136 Margaret St., Plattsburgh
Pennsylvania
- 101 Lancaster Ave., Frazer
- 346 West Trenton Ave., Morrisville
- 8600 Germantown Pike, Philadelphia
South Carolina
- 1501 Main St., Columbia
- 6 Elmshorn Dr., Greer
Virginia
- 6200 Multiplex Dr., Centreville
- 1750 North Hampton Ave., Reston
As you can see, in places like New York, key offices in Manhattan, Plattsburgh, Greenlawn, and Middletown will close. In New Jersey, areas like Cedar Grove, Marlton, and Spring Lake Heights will also see their offices disappear.
Don’t get caught off guard
To avoid being surprised by this change, we’ll give you three tips to get organized. The first is to check whether any of the closures affect you directly. If they do, then proceed. Download the bank’s app and register, get familiar with the new TD Bank ATMs, and arm yourself with patience!
TD Bank assures that there will be personalized attention for those who feel neglected during this process.
