Wells Fargo closing a Raleigh bank location. Find out which one, where to go instead

Wells Fargo is closing one of its Raleigh bank branches, the company announced in a letter sent to customers this week.

The bank’s Crabtree Valley branch, located at 4321 Glenwood Ave., will close permanently Nov. 2, 2022, Wells Fargo confirmed to The News & Observer via email Wednesday.

The change comes after the major bank closed hundreds of branches last year and shrunk its branch employee headcount by 23%, as reported by The Charlotte Observer.

“This is not an easy decision or one that we take lightly,” Josh Dunn with Wells Fargo Corporate Communications wrote to The N&O. “We continually evaluate our branch network, and make adjustments based on changing customer needs, market factors, and economic trends. This process leads to both expansion and consolidations.”

Dunn told The N&O that the bank has seen customers increasingly turn to digital banking tools, such as digital check deposits, instead of in-person services.

“As a result, more transactions are happening outside the branch,” Dunn said.

Customers will be able to use the Crabtree Valley branch and bank with Wells Fargo “as they always have” until the November closing date, Dunn said.

Customers who are looking for in-person banking services after the Crabtree Valley location closes can visit the Wells Fargo location at North Hills, located at 4220 Lassiter Mill Rd. There are also more than 40 additional Wells Fargo bank branches in the Triangle, plus nearly 120 ATM locations, in the Triangle, Dunn told The N&O.

The closing of the Crabtree Valley location will not affect customers’ accounts, Dunn said.

“No matter where or how our customers choose to bank with Wells Fargo, there will be no change in how their accounts are handled,” he said.

The closing of the Crabtree Valley branch will mark the latest change in a recent round of shake-ups to the mall’s storefronts.

The N&O previously reported that two popular home and furniture stores, Pottery Barn and Arhaus, left the mall for Fenton, a new mixed-use development in Cary, while new stores, such as Fabletics and OFFLine by Aerie, have recently opened or are set to open in the mall this summer.