Wells Fargo sets date for closing major Raleigh branch. Here are customers’ options

Martha Quillin, Chantal Allam
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Wells Fargo told customers this week it will permanently close its downtown Raleigh branch at 150 Fayetteville St. as part of a “real estate consolidation” the bank announced n January.

Here’s what we know about the closing.

When is the Fayetteville Street branch closing?

According to a letter customers received Monday, the branch at 150 Fayetteville St. will shut its doors for good July 10.

After that, the letter told customers, they’ll need to go to other branches for in-person services. Customers with safe-deposit boxes at the downtown branch will get another letter, the bank said.

Why is the branch closing?

The San Francisco-based bank said in January it would be leaving the building called Raleigh Capitol Center because with high interest rates and with many people working at least part of the time from home, “We have more real estate than we need.”

The company said at the time that bank employees working in the building would be assigned to other locations.

How many customers still do their banking in person?

Surveys conducted by Forbes Advisor and the American Bankers Association have found that each year, fewer people do their banking in person.

As of 2022, Forbes says, 78% of adults in the U.S. would rather use a mobile app or a website to conduct transactions than go to their bank in person.

Wells Fargo’s mobile app

Wells Fargo offers online banking that includes a mobile app that allows customers to take care of many financial tasks, including depositing checks with the aid of the smartphone’s camera.

To get more information on Wells Fargo online banking, visit: wellsfargo.com/mobile-online-banking/apps.

What other Wells Fargo branches are close to downtown?

Wells Fargo has at least 18 branches around Raleigh. In its letter to customers, the bank directs those who want in-person services to visit:

  • 2001 Clark Ave. (in the Shops at Village District) in Raleigh

  • 1225 U.S. 70 in Garner

Which other banks have branches in downtown Raleigh?

The following banks have branches in downtown Raleigh.

  • PNC Bank is located at 301 Fayetteville St.

  • First Citizens Bank is located at 239 Fayetteville St.

  • North State Bank is located 230 Fayetteville St., Suite 100

  • M&F (Mechanics & Farmers) Bank is located at 13 E. Hargett St.

  • Truist is located at 434 Fayetteville St., Suite 108

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