By Mikayla van Loon
Another local bank branch will be closing its doors next month with the move cited as being due to a downturn in customers using the branch.
Bank of Melbourne’s Chirnside Park store will be closing on Friday 10 March, the third Westpac Group branch to close in six months locally.
“Westpac has more than five million digitally active customers and we know their expectations are changing. That’s why we’re investing in digital services so our customers can bank with us anywhere, at any time,” a Westpac Group spokesperson said.
“Changing and declining customer use of branches means that in some instances, we may make a difficult decision to close a branch.”
Lilydale’s Westpac and Croydon’s Bank of Melbourne were the last two to shut their doors late last year, leaving ATM services available but customers had been advised to use the Chirnside Park branches for their banking needs.
“Bank of Melbourne customers can do their cash transactional banking over-the-counter at Westpac Chirnside Park, which is also located in Chirnside Park Shopping Centre, and can perform fee-free ATM transactions at the Westpac ATM,” the spokesperson said.
“Additionally, many customers can continue to access the same cash services locally via Bank@Post at Chirnside Park LPO, less than 100m away from our current branch.”
The closures are part of the most recent countrywide shutdown of bank branches by Westpac Group, which includes Bank of Melbourne, Westpac and Bank SA and will see 20 branches across four states close affecting 91 jobs.
Finance Sector Union (FSU) secretary Julia Angrisano said these closures were abandoning customers and businesses, leaving them without the full financial services they deserve.
“Westpac is brazenly closing branches month after month as a means of propping up profits and bonuses for senior executives,” Ms Angrisano said.
Westpac’s Full Year report released in November last year indicated a turnover of $5.65 billion, an increase of four per cent, while costs reduced by 19 per cent in 2022.
“It is simply outrageous that Westpac can continually kill off jobs and close branches and nothing is being done to stop them,” she said.
Further Westpac branch shutdowns will occur in Brandon Park, Robinvale, Sale and Denmark, while Bank of Melbourne will close its Casey, Moonee Ponds, Melton Woodgrove, South Melbourne, Malvern and Waurn Ponds stores.
“We always notify our customers in advance about the changes and directly connect them with the services they need to continue to do their banking,” the Westpac spokesperson said.
“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.”
The next closest Bank of Melbourne branch is at Eastland Shopping Centre.
Bank of Melbourne customers can call 132 266 to talk to one of its bankers about the changes.
