Commonwealth Bank Toongabbie to close September 22

A major bank is closing its branch in western Sydney, despite the company posting a profit that jumped to $9.6 billion. Find out why and when it will shut the service.

The Commonwealth Bank’s Toongabbie branch will close on September 22, but outraged locals are pleading with the bank to reconsider deserting its elderly and non-English speaking customers.

Despite the company’s 11 per cent profit rise to $9.6 billion over the past financial year, the branch, on the main shopping strip of Aurelia St, will close three years after the neighbouring Pendle Hill bank shut along with Ermington ceasing to operate in late 2019.

The Westmead branch ceased operating in December 2018.

Cumberland Mayor Lisa Lake said she would write to the bank to express her concerns and ask it to reconsider its decision.

“The Wentworthville branch of this bank is always incredibly busy,’’ she said.

“Many people still rely on counter service to assist them with their banking, particularly our seniors and people of a non-English speaking background.’’

Commonwealth Bank regional manager Irene Rowlands said the “difficult decision” to close the Toongabbie branch was made after it had a significant decline in transactions over the five years before the Covid pandemic.

She said there would be no job losses because of the closure.

“We’ve redeployed the vast majority of staff from branches that have closed,’’ she said.

“We have engaged our people from the Toongabbie branch to support securing appropriate comparable roles suitable to their needs.’’

Ms Rowlands acknowledged that seniors preferred face-to-face banking and the company recently invested $2 million in its “local presence” and refurbished its Westpoint Blacktown branch.

The bank’s Toongabbie days are numbered.

The Seven Hills, Winston Hills, Wentworthville and Greystanes branches remain open.

“We’ve found a third of customers from Toongabbie are already visiting these nearby branches,’’ she said.

The bank is also diverting customers to Australia Post offices, which allows withdrawals and deposits including passbooks.

But Toongabbie Newsagency owner Robert Chong objected to the closure.

“It’s quite shocking,’’ he said.

Toongabbie Newsagency owner Robert Chong is not impressed with the bank’s closure.

“It’s inconvenient to the business owners who use the banks so it affects the business.”

Xdream Jewellery owners Sivalingam and Kasma Pakiyarasa, whose shop neighbours the bank, said they would have to wait 45 minutes in the queue at the Seven Hills branch.

Xdream Jewellery Toongabbie owners Kamsa and Pakiyarasa Sivalingam say going to another bank takes almost an hour out of their day.

But the Smitheys Keys owner said he was not fazed.

“What do you need it for? I’ve gone one of those whiz-bang computers. It was nice while it was here.’’

He rejected the bank’s proposal to install an ATM outside his shop, fearing it would be subjected to a ram raid.

Online, the public also expressed frustrations over the decision.

“This is really a bad decision. More jobs lost and local customer service gone,’’ Greta Martin said.

“They don’t think about the senior residents of our area, people who have no transport to get to other branches.’’

Josephine Grima said: “This is ridiculous. With the elderly population in Toongabbie I bet the majority bank with the Commonwealth Bank. This will also mean there are no banks in Toongabbie.’’

Others saw the digital takeover as inevitable.

“Unfortunately there is probably nothing that can be done,’’ Stjepan Oreskovic said.

“Not the first branch to close. When it comes to making profits banks are ruthless.’’

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