No bank for Westmead after Commonwealth Bank shuts

Commonwealth Bank has made an “opportunistic grab” to desert Westmead, leaving the booming suburb without a financial institution despite being in the midst of a $1 billion hospital redevelopment and building boom.

Westmead is booming but there are no banks.

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Commonwealth Bank has made an “opportunistic grab” to desert Westmead, leaving the booming suburb without a financial institution despite being in the midst of a $1 billion hospital redevelopment and building boom.

The Commonwealth Bank at Westmead Arcade shut on December 14 to make way for a Parramatta Light Rail’s stop, substation and drivers’ amenities at 149 Hawkesbury Rd.

A Commonwealth Bank spokeswoman said the bank had searched for an alternative site but was unsuccessful and had notified customers.

“As per ABA protocol for closures, we provided six weeks’ public notice prior to Westmead branch closing, which included notifications at the branch from November 2, and letters to any customers who regularly visited the branch,’’ the spokeswoman said.

The Commonwealth Banks has shut, leaving Westmead with no banks.

“Since we became aware of the light rail development, we have been looking for alternative premises in the near vicinity of Westmead branch, and unfortunately have not been able to locate a suitable option at this stage.”

But Parramatta Chamber of Commerce president Schon Condon slammed it as a cop out.

“I think the bank’s taken an opportunistic grab,’’ Mr Condon said.

“I think they said ‘We’re not going to make the decision to open a branch’ and I’m not sure that’s the right decision”.

Schon Condon is not impressed with the Commonwealth Bank’s exit from Westmead.

“The closing of the last bank facility at Westmead is a concern. There’s a huge transient population that comes out of Westmead, not just local but statewide and there’s commonly families and groups that come down and stay there so the need for some form of financial facility should be addressed.”

Westmead Foot Clinic owners Andrew and Sophie Fryc have been distressed since the practice, which relocated to Ashley Lane from the arcade this week, was acquired.

They were furious the bank shut without being given enough notice.

Stage 1 of Parramatta Light Rail will run from Westmead to Carlingford.

Westmead Hospital’s 14-storey skyscraper is part of its $1 billion redevelopment.

“It’s amazing that Westmead will not have any banking services whatsoever for some time,’’ Mrs Fryc said.

“It forces folk to go elsewhere for banking services, which is more of a problem for many elderly in the local area.

“For us … it will also impact with a loss of passing trade from people having to access banking services elsewhere.”

Westmead residents Shirley and Tony Habib were regular bank customers and only discovered the news when it was shut three weeks ago.

“Why didn’t they put a sign up to tell us?” Mrs Habib said.

Not impressed: Tony Habib outside the now-empty Westmead Commonwealth Bank.

“I came two weeks ago and I’ve got a disabled son and it was really inconvenient.

“I had to go to Wenty so it was very inconvenient. I had to go back down in the car and drive. I don’t bank online.”

Mrs Habib said there was a huge demand for the bank in the suburb.

“My daughter is a nurse and she lives down here,’’ she said.

“I would expect the nurses and teachers would find it very inconvenient. I was so shocked because the amount of people who come into this area — thousands. I’ve lived here for 35 years. People are very parochial here.”

Westmead Shopping Village in front of Westmead Arcade will get an overhaul but it does not include a bank.

Mrs Habib, who is a teacher, said she and her husband, a salesman, were even more cynical and guarded after the State Government made decisions such as acquiring the arcade.

“We don’t trust anyone,’’ Mr Habib said.

“We are just middle income earners.”

Westmead Hospital’s $1 billion redevelopment and Highline skyrise is earmarked for the suburb.

The Commonwealth Bank said customers could complete transactions at the Australia Post outlet at Hawkesbury Rd Westmead or visit neighbouring branches at Wentworthville, Westfield Parramatta and Parramatta.

There is only an ATM at Westmead Shopping Village now the arcade’s bank is shut.

St George bank shut at Wentworthville last year.

But Mr Condon criticised that and said face-to-face banking was sometimes the best option.

Seven Hills state Liberal MP Mark Taylor encouraged constituents to raise the problem with him.

“The closure of Commonwealth Bank’s Westmead branch is an issue for my constituents,’’ he said.

Transport for NSW has allowed a grace period for traders at Eat St, Parramatta, and pushed back construction work to 2020 to give businesses a chance to prepare for the project.

About 28,000 commuters are expected to use the light rail every day by 2026 and more

than 330 businesses will be affected.

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A Transport for NSW spokeswoman said it had engaged with the business owners and tenants at Westmead since late 2016.

She said owners and tenants at the arcade were each assigned a manager to support them through the acquisition process and they were entitled to compensation under the NSW Land Acquisition Act 1991.

“When an agreement with the owner or tenant cannot be reached, Transport for NSW is responsible for ensuring this payment, following an independent determination of compensation by the NSW Valuer-General,’’ the spokeswoman said.

“These discussions are kept confidential to respect the owners’ privacy.”

The spokeswoman said Transport for NSW explored only partially demolishing the arcade but it was found the project’s infrastructure could not fit on the site.