PNC announces it will shut nearly 30 branches - is your state affected? trends now

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PNC Bank is set to shut almost 30 branches, further accelerating America's transition to automated banking.

The financial giant follows in the footsteps of JPMorgan which yesterday announced it was closing a quarter of First Republic locations after it took over the failed firm earlier this year. 

It comes as America faces an access to cash crisis as firms axe branches and ATMs at lightning speed. The number of cash machines fell from 470,000 in 2019 to 451,500 at the end of 2022, according to figures from research body Euromonitor International. 

The 29 closures are targeted in Maryland and the Northern part of Virginia, with 26 located in grocery stores such as Giant Food and Stop & Shop.

A spokesman told the US Sun: 'After a careful review of our business model, PNC's strategic goals and the potential impact to our customers, the decision was made to close approximately 127 of our Giant Foods and Stop & Shop in-store branches.'