Huge National Bank Announces The Closure Many New Jersey, New York and Pennsylvania Branches

These days, managing your money is easier than ever.

With just a few taps on a smartphone or clicks on a laptop, we can send payments, transfer funds, and handle all our banking needs—no lines, no hassle.

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Physical debit cards? Not even necessary.

Services like Apple Pay make cashless transactions effortless, straight from your phone.

When Was the Last Time You Walked Into a Bank?

If it’s been a while, you’re not alone.

A 2023 report from Statista shows that more than 66% of Americans now rely on online banking—a number that’s only expected to grow.

In fact, last year alone, over 1,000 bank branches shut their doors for good.

READ MORE: 5 New Jersey Banks Announce Shocking Closures

Here’s how different age groups are embracing digital banking:

• 25-34 years old: 85% use digital banking
• 65 and older: 47% rely on online banking
• Baby Boomers: 39% manage finances online
• Gen Z: 57% use mobile banking apps
• Millennials: 60% prefer mobile banking
• Gen X: 52% handle banking via apps

Despite the shift to digital, some services still require a trip to the bank.

Whether securing a safety deposit box, getting a certified check, or speaking with a financial advisor, in-person banking hasn’t disappeared completely.

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The Reality of Bank Closures

Walk into a bank today, and you’ll likely notice something missing—people.

Staffing levels have dwindled, and even drive-thru teller lanes are being replaced by ATMs.

So, why are so many banks closing?

The answer is simple: technology.

Digital banking allows financial institutions to cut costs by reducing the need for physical locations and staff. As a result, more banks are shifting to an online-first approach.

TD Bank is headquartered in Cherry Hill, NJ, and they're significantly shifting to digital banking.

This includes closing down various branches in the tri-state area by June 5.

NJ.com says these locations will be shutting their teller drawers for good.