Bank closures in the U.S. are accelerating, with 107 branches shutting down between January and early February, and experts predicting 2025 could see the worst closures yet. Last year, 1,043 branches closed, and a further 4.11% decline is expected by year’s end. As the shift to online banking intensifies, concerns grow over accessibility, with 45% of Americans still preferring in-person banking.
Despite the move toward a cashless society, over 200 million Americans continue to make cash deposits, potentially leading to longer wait times and declining customer experience. Public sentiment reflects unease, with 76% believing the banking system needs changes.
