Commonwealth Bank Seaford closed: Nepean Hwy branch shut permanently as transactions plummet
A seaside shopping strip has been left without a big bank, with the move sparking outrage among locals.
South East
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Commonwealth Bank’s Seaford branch has shut down permanently.
Transactions at the Nepean Hwy branch have plummeted by more than 50 per cent over the past five years, prompting management to take down the branch and two ATMs.
The move —which follows a temporary shut down in May last year— has left the seaside strip with no big bank.
“Before the coronavirus pandemic, around two thirds of our customers were using digital channels for their everyday banking needs … only six per cent of customers visited our branches for these tasks,” Commonwealth Bank regional general manager said.
The shut down has sparked outrage on social media, with scores of locals slamming the move as pressure mounts to make the switch to online services.
A Facebook post by Labor MP Sonya Kilkenny attracted close to 200 comments.
“I used this branch for years and years and it was always full of our elderly, where are they supposed to go now and no ATM,” Christine Stevens wrote.
“Local businesses need to be able to use the bank and not have to travel to get the banking done. The shorter hours make is near impossible for some businesses to get to a Commonwealth Bank regularly … as we are slowly getting back to accepting cash transactions, it is causing great concern keeping money on premises that would normally be able to be banked,” Michelle Cooper said.
“I am very disappointed. This has been our branch for over forty years. Great staff always helpful. It’s a sad day,” Jennifer Nash wrote.
Mr Castle said double the amount of customers aged over 60 had accessed NetBank or the CommBank app over the past month compared to those who had visited a branch over the past three months.
He confirmed no jobs had been lost as a result of the closure.
“For Seaford customers, we have nearby branches at Frankston, Karingal and Chelsea … we’ve also found that around 30 per cent of customers from Seaford were already visiting these other branches before the Seaford branch temporarily closed,” Mr Castle said.
“Additionally, the Seaford LPO Australia Post outlet a block up the road is available for customers to conduct personal and business banking transactions such as withdrawals, deposits and bill payments including passbooks during normal business hours.
“Customers can also access their accounts 24 hours a day through NetBank or the CommBank App.”
