NAB set to close dozens of branches across Australia as customers prefer to use online banking
The major bank claims the closures are due to more people choosing to bank online or over the phone.
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NAB is set to close dozens of branches across multiple states in major cities and regional areas, claiming customers prefer to use online banking.
Up to 36 branches across NSW, the ACT, Queensland, Victoria and Western Australia have been listed as either closed or closing soon.
The NAB website cites the closures are due to “more customers choosing to bank online, over the phone, or by video”.
“Because fewer customers are using branches to do their banking, we’ve made the difficult decision to close some of our branches,” the website reads.
“We want to make sure that changes to our branch locations are as smooth as possible for customers.”
NSW closures include Balmain, Broadway, Gilgandra, Gosford, Gundagai, Kyogle, Lake Cargelligo, Lithgow, Oberon, Scone, Temora, Warren, Wellington and Woolgoolga.
Tuggeranong is closing in the ACT.
Queensland branch closures include Bribie Island, Browns Plains, Caneland Central, Cleveland, Inglewood, Mitchell, Pittsworth and Runaway Bay.
Branches closing in Victoria include Bright, Emerald, Kilmore, Morwell, Mt Waverley, Ocean Grove, Strath Village, Tatura and Whittlesea.
Western Australia closures include Corrigin, Innaloo, Maddington and Waroona.
The closures come after the big-four bank reported an 8.8 per cent rise in cash profits over the past 12 months.
Each branch comes with its own fact sheet that lists the nearest alternative branch, the nearest post office offering Bank@Post and reasons the branch closed.
“Closing a branch is always a difficult decision and we understand the change can be a big adjustment for some customers. Before the decision was made, we took a lot into consideration,” the fact sheet for Balmain in Sydney says.
“Over the past few years, fewer customers are coming into branches to do their banking and foot traffic has lessened.
“Approximately 77 per cent of our customers in Balmain have only visited the branch once in the last year.
“More than 77 per cent of customers are also using other locations.”
Each fact sheet details how the customers used the branch in the past year, including personal banking transactions and business banking transactions.
NAB has been contacted for comment.
Originally published as NAB set to close dozens of branches across Australia as customers prefer to use online banking
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