Last updateFri, 15 Jul 2016 8am

Banks closing branches as customers go online

The worldwide tendency for banks to close branches is now being seen in Jalisco – although lines don’t seem to be getting any shorter and many customers still complain!

The number of bank branches in Jalisco fell from 1,063 to 1,021 in the 12 months between March 2015 and 2016, according to the National Banking Commission.  On a national level, more than 350 banks branches closed their doors in this period.

The trend is mostly provoked by the rapid development of online banking and the emergence of “services” that can be undertaken at other establishments thanks to new agreements. Many people now prefer to pay their credit cards bills and make deposits at outlets such as Oxxo and 7-Eleven rather than wait in line at banks, even though they are charged small commissions. 

In other banking news, a few banks in Guadalajara say they have started to install fingerprint-based ATMs, although this newspaper does not know of any that are as yet operational.

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