As we near the end of 2024, Bank of America has officially announced the closure of some of its branches for two days, aligning with upcoming national holidays. This decision is part of the standard practice for many financial institutions across the United States, where certain holidays warrant the temporary closure of physical banking locations.
Impact of closures on banking services
These closures are expected to impact various banking operations. Customers will not have access to in-person banking services like teller transactions, large withdrawals, or account consultations during these days. However, Bank of America has made clear that its ATMs will remain operational, allowing for basic functions such as cash withdrawals, check deposits, and balance inquiries. Nevertheless, customers relying on these ATMs should keep in mind potential limitations, such as daily withdrawal limits and the possibility of ATMs running out of cash due to increased demand during holiday periods.
Official closure dates
According to Bank of America, the two key closure dates to note before the end of the year are Monday, November 11, for Veterans Day, and Thursday, November 28, for Thanksgiving. These holidays are recognized federally, leading to nationwide disruptions in banking services. Veterans Day is set aside to honor U.S. military veterans, while Thanksgiving is a family-centered holiday. During these closures, customers should expect a lack of access to in-person services but may still conduct online banking and mobile app transactions.
Preparing for the closures
To minimize disruption, customers are encouraged to plan for any important banking needs, such as direct deposits, bill payments, and large cash withdrawals, before the scheduled holidays. This precaution is especially important for individuals or businesses that heavily rely on in-person banking services.
For customers who may not be familiar with the shift towards digital banking, it is worth noting that Bank of America has been gradually reducing its physical branch network in response to the growing preference for online banking. Approximately 90% of Bank of America’s clients now utilize digital channels, such as mobile apps and online platforms, rather than visiting branches in person. As the shift toward digital banking continues, these closures reflect a broader trend of reducing the reliance on physical branches.
