TD Bank plans to shut down 38 branches across various states and Washington D.C. as part of a strategic assessment of its operations. This decision, effective June 5, is part of routine evaluations aimed at improving efficiency in response to shifting customer banking behaviors, particularly a rise in online banking driven by the pandemic. While some branches will close, TD Bank has opened three new locations recently, indicating a transformation in their operational strategy to focus on digital services while still supporting existing customers throughout the transition.
TD Bank's closure of 38 locations reflects a strategic adjustment to adapt to changing customer banking habits, emphasizing online services over physical branches.
The company maintains that these closures are part of normal business practices while aiming to streamline operations amid broader shifts in the banking industry.
In response to decreased branch traffic, TD Bank is redirecting resources towards enhancing digital banking, as more customers prefer online transactions.
The bank reassures customers that support is in place during closures, offering over 1000 locations and advanced digital services to adapt to their needs.
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