Banks accused of social obligation fail amid FNQ branch closures
Another big four bank will desert Cairns CBD with a major branch bringing down the shutters. Read which local branches have closed and other up-coming shut downs.
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THE Westpac branch in the Cairns CBD, set to close on Friday, is the latest in a long list of Far North branches to bring down the shutters on regional customers as financial institutions increasingly turn to online systems.
More than 1600 bank branches have closed since 2017 and 309 branches shut up shop for the final time during the last financial year.
Friday marks the closure of the Lake St Westpac branch and the Port Douglas customer service centre will follow suit on February 17, 2023.
The Grafton Street St George bank, a subsidiary of the Westpac Group, has announced to customers the branch will close at 1pm on March 31 next year.
A Westpac spokeswoman, in response to a Cairns Post query, stated factors considered when closing a branch included, usage, location and proximity to other banking services.
“We have seen a significant shift in how people are choosing to bank with us as more customers go online, which has resulted in a decline in the number of customers who use branches across our network,” she said.
“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.”
But long-time Westpac customer Nick Dalton, of Manoora, having used the Lake St branch for more than three decades, considered the latest closure poor form and a failure to deliver on a social obligation.
“I have an account at Lake St, Cairns, and only recently I appreciated being able to meet a bank representative face-to-face to discuss my accounts,” he said.
“Yes, I do a lot of banking online, but I also like the option of meeting someone in person to discuss my banking needs.
“I also withdraw cash regularly but there are no Westpac ATMs near where I live now. The bank has removed two ATMs at Manoora and Manunda.
“Westpac has a social responsibility, especially to older customers, but they are driven by astronomical profits and their shareholders.”
Other Cairns customer service outlets to recently close include the Cairns North NAB branch on Sheridan St.
And in 2021, despite a community plea to keep it open, NAB shut down its Gordonvale branch in February that year.
ANZ closed it Mossman branch in early 2021, in January this year the bank’s Mareeba branch closed and shutters came down on the Innisfail branch in March 2022.
However, ANZ has no plans to close more Far North branches.
Asked about upcoming branch closures Commonwealth Bank declined to provide information and directed the Cairns Post to the 2022 annual report for local branch numbers.
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