Westpac closes another 23 branches across Australia in ‘appalling’ move

Westpac is set to shut down another 23 branches across Australia, costing 92 jobs.

The latest branches to go are among 95 closed by Westpac over the last four months, Finance Sector Union National Secretary Julia Angrisano said in a statement.

A Westpac spokesperson said the closures had come about following a shift in consumer behaviour, with more customers choosing to bank online, resulting in a decline in the number of customer who visit branches in person.

Last month, Westpac group announced 24 branches would be closed, after another 24 were shut down in August.

Angrisano said the move had left staff at remaining branches fearful their bank would be next to close down.

Westpac Group, which includes St George Bank, Bank of Melbourne and Bank SA, is also closing branches of its subsidiaries.

“This is the most appalling decimation of a branch network by a bank which is now on the verge of abandoning its social contract with the community,” Angrisano said.

“Hundreds of banking jobs have been lost as Westpac rips through what’s left of its branches.

“Clearly, servicing the banking needs of customers is being ignored, as Westpac chases cost savings by cutting their bricks and mortar, and staffing costs.”

Angrisano said customers shouldn’t believe Westpac’s “spin” that the branches were closing because consumers prefer digital banking.

“These suburbs and towns are losing their bank because Westpac isn’t recouping enough profits from the sale of new loans, insurance policies and credit cards in their area,” she said.

“This process is particularly difficult for front-line staff.”

Staff at branches impacted by the closures told the union the changes were “emotionally exhausting”.

“The impact on the mental health of everyone working at the branch is huge and taking its toll,” one staff member said.

“We are remote, what our employment options look like is up in the air, we are all facing a very insecure future.”

Branch closures

Westpac: NSW: Hay, Moree, Campbelltown; Queensland: Port Douglas; Victoria: Beaumaris, Endeavour Hills, Gisborne; WA: Carnamah; SA: Coober Pedy; NT: Katherine.

St George: Queensland: Townsville, Cairns; NSW: North Sydney; ACT: Weston.

Bank of Melbourne: Greensborough, Horsham, Prahran, Shepparton, Sunshine

Bank SA: Greenacres, Kapunda, Port Adelaide, Tailem Bend

Angrisano said the closures would have major impacts on those towns which are losing their last bank branch.

Those towns include Coober Pedy, Carnamah, Kapunda and Tailem Bend.

Hay in NSW will be left with just a Commonwealth Bank when the local Westpac branch closes.

“We need the federal government to step in and stop the banks from deserting regional Australia,” Angrisano said.

“Banks can’t be trusted to do the right thing by regional communities because when considering whether to close branches, they only consider their massive profits.

“They don’t care about bank staff and the communities which will be impacted by their decisions to shut branch doors.”

Westpac responds

A Westpac spokesperson said the closures had come about following a shift in consumer behaviour, with more customers choosing to bank online, resulting in a decline in the number of customer who visit branches in person.

“When we do make the decision to close a branch, we consider a range of factors including usage, location, and proximity to other banking services,” the spokesperson said.

“In these instances, we continue to support our customers by expanding access via digital and online banking, Bank@Post, telephone, mobile and virtual banking.

“For those who are new to digital banking, or may require more assistance with the changes, we provide dedicated support and education to make the transition easier.

“We’re continuing to invest in all our brands through creating a more connected branch network with new technology which means, for the first time, any St George, Bank of Melbourne or BankSA customer will soon be able to do their cash transactions at a Westpac branch, and vice versa.

“This builds on our ongoing program of co-locations where two Westpac Group branches are brought together under one roof.

“More than 30 branches have been co-located to date, enabling us to make a long-term commitment to providing employment and banking services in these communities, with new and improved branch sites opened in Dubbo, Lismore, Wagga Wagga and Stirling in recent months.”