Coober Pedy’s ATMs run out of cash – and its only bank is about to close

Coober Pedy was left without cash when its ATMs ran dry this week. And locals fear its going to get worse when its only bank closes within weeks.

Coober Pedy residents fear the town could regularly run out of cash when its only bank closes later this month, causing major headaches for businesses and leaving outback travellers without money.

The opal mining and tourism hub was left without cash this week after the town’s ATMs ran out of money, and with Westpac announcing its departure from the outback hub from February 17, Coober Pedy Business Association chairman Jason Wright said residents were worried it could become a common situation.

Mr Wright said visitor numbers were set to increase in coming months as the weather cooled.

“You could fire a cannon down the main street at the moment and not hit anyone, but we still ran out of money,” he said.
“What’s it going to be like when it gets busy?”

Mr Wright said after Westpac’s departure the town’s residents faced two choices for banking – a 1080km round trip to Port Augusta making do with private ATM machines and the Post Office.

“There are some smaller ATM machines but they’re next to useless really because they have a $200 limit,” Mr Wright said.

“And the Post Office has a deposit limit of $7000. I can tell you know there are plenty of businesses here that turn over more than $7000 in a day. What are they supposed to do with their cash? It creates all kinds of security issues.”

Coober Pedy’s main street. Picture: Tricia Watkinson

Mr Wright said the people of Coober Pedy had supported the bank through the boom times of the 1980s and now felt like they were being abandoned.

Liberal Senator for South Australia Kerrynne Liddle said the situation was a serious concern, and she supported calls for Westpac to reconsider its decision

“This is a dire situation for a busy regional town that is on a major Australian transport corridor,” Senator Liddle said.

“It also highlights the need for Westpac chairman John McFarlane to delay the planned Coober Pedy bank branch closure. I have written to Mr McFarlane to support the District Councils of Coober Pedy’s call for a review and delay of the bank closure which is scheduled for February 17.”

Senator Liddle said many Coober Pedy residents spoke English as a second language and needed additional support to manage their banking.

In a statement issued after the announcement of the closure in November, a Westpac Group spokesperson said: “Declining customer use of branches means that in some instances, we may take a difficult decision to leave a branch location. In these instances, we continue to support our customers by expanding access via Bank@Post, telephone, mobile and virtual banking.”