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More US banks to shutter branches as coronavirus crisis escalates

March 20, 2020 / finextra
SHARESHARESHARE

More US banks are following the lead of JPMorgan Chase in restricting access to branch-based services as social distancing measures during the virus outbreak come into force. KeyCorp, Fifth Third Bancorp, BBVA USA and PNC have all announced plans to shutter branches and restrict access at many of their sites to the drive-through window only. The moves came a day after JPMorgan circulated plans to shutter a fifth of its branch network, comprising 1000 outlets, in response to the escalating Coronavirus pandemic. PNC, which intends to close a quarter of its branch network, says customers will need to make appointment for safe deposit box access, loan closings or other banking services that cannot be delivered through the drive-up, by telephone, through the ATM network or via mobile or online banking.