This shift is happening in commercial banking as well, PYMNTS has reported. Related: SMBs Prefer Digital Tools Over In-Branch Banking And Bank of America CEO Bryan Moynihan said recently that 85% of deposits are carried out digitally, with just 15% even involving a teller. are accessing their bank via digital channels, whether that means checking their balances, paying bills, or monitoring transaction alerts. The move comes at a time when 67% of consumers in the U.S. Read more: Keeping Pace With the Evolving Demands of Money Mobility
“We made a business decision to stop offering new safe deposit boxes as of December 2021, but that doesn’t affect current customers who have boxes,” said bank spokesman Tom Kelly. The report said that if a Chase branch closes, the boxes will close with it, with box-holders unable to rent a new box at a new location. 30), JPMorgan Chase has begun to phase out the boxes, no longer allowing customers to rent new boxes. Safe deposit boxes, a longtime fixture at banks worldwide, will soon be a thing of the past at one major banking chain.Īs Bloomberg News reported Friday (Sept.
