Bank of America on North Street in Bristol to close

Published on Tuesday, 5 December 2017 20:38
Written by Lorenzo Burgio

STAFF WRITER

BRISTOL -- The Bank of America Financial Center branch located at 53 North St. will close “permanently” on Feb. 27, 2018, according to branch information on the Bank of America website.

A notice from Bank of America stated that the bank accounts “will stay the same” and directed customers to two-other close by locations - one in Bristol and the other in Plainville.

Tara Burke, the Connecticut media relations contact for Bank of America, confirmed the branch will be closing due to an “increase in online and mobile customers.”

“We look at our franchise of financial centers and we see a decline in foot traffic or customers using other banking centers, and customers adapting to online,” she said.

The spur in online banking is based on statistics regarding online banking usage that show the extent of its use, Burke explained.

In the third quarter of 2017, she said that there were 24 million active mobile banking customers, over 1 billion customers logged into their online accounts, which is “approximately 49 times per user” and 32 million mobile bill payments were made.”

Burke recognized that a decrease in foot traffic could also have to do with the increased use of Pay to Accounts - an account incorporated in to Bank of America app that allows customers to pay bills and transfer money to individuals that are not Bank of America customers.

The Pay to Accounts “see a tremendous amount of use,” she continued, adding that 330,000 checks are deposited by phone per day across all Bank of America branches.

Bank of America will work to cooperate with the employees that are currently working at the North Street branch, Burke noted.

“We will work with each employee on an individual basis to see where we can find an opportunity,” she said.

Lorenzo Burgio can be reached at 860-973-5088 or by email at lburgio@bristolpress.com. Follow Lorenzo Burgio on Twitter @burgioBP.



Posted in The Bristol Press, Bristol on Tuesday, 5 December 2017 20:38. Updated: Tuesday, 5 December 2017 20:40.