Santander branch closures are happening fast as the global banking giant moves deeper into the digital world.
Between July 31 and August 21, Santander will permanently shut down 18 U.S. branches, nearly 5% of its national locations. If you’re in the Northeast, your local branch could be on the chopping block.
The company isn’t doing this blindly. It’s part of a strategic shift from traditional branch banking to a more digitally focused operation. Santander launched its U.S. digital bank, Openbank, in October 2024, and it’s already racked up $2 billion in deposits.
Swati Bhatia, head of retail banking, said the goal is simple: combine the convenience of a fintech app with the reliability of a global banking institution. But that also means trimming down on brick-and-mortar locations that don’t get much foot traffic anymore.
Here’s a quick look at where the closures are happening:
| State | Number of Branches Closing |
|---|---|
| Massachusetts | 6 |
| New Jersey | 4 |
| Pennsylvania | 4 |
| New York | 2 |
| New Hampshire | 1 |
| Rhode Island | 1 |
Why is this happening?
- More people are banking online or via apps
- Santander wants to invest more into digital services
- The pandemic pushed people away from in-person banking
- Operating costs for physical branches are rising
This isn’t just about Santander. They’re joining a big trend. In Q1 of 2025 alone, the U.S. banking industry saw 148 branch closures.
Other major bank closures in Q1 2025:
- US Bank: 50 locations
- Wells Fargo: 23 locations
- Citizens Financial: 21 locations
- Bank of America & PNC: 18 each
Santander’s spokesperson told Banking Dive the closures are about “refining the branch footprint” and “investing in digital capabilities.” And based on how fast Openbank is growing, the pivot is already working.
Still, customers in smaller towns or those who rely on in-person banking may find the closures frustrating. While some branches are vanishing, Santander says it’s not abandoning personal service, it’s just delivering it in a different way.
And if you’re wondering whether your branch is closing, keep an eye out. Closures are scheduled between July 31 and August 21.
Bottom line? Santander’s going full-speed into the digital age. And this wave of closures shows they’re not looking back.
Leo Cruz brings sharp insights into the world of politics, offering balanced reporting and analysis on the latest policies, elections, and global political events. With years of experience covering campaigns and interviewing world leaders, Leo ensures readers are always informed and engaged.
