‘People power’: Cash society claims win as big bank reopens branches

In a major win for cash advocates a big four bank has reversed its plan to close down three previously abandoned banking facilities.

Westpac has announced it will re-open regional banks in three Australian states, in a major win for the cash society.

The major bank is bucking the trend of cashless payments announcing three new banking services centres in NSW, Victoria and Tasmania.

Cash Welcome, an industry initiative to provide a voice for cash use in Australia, founder Jason Bryce said the major bank listening to the communities needs.

“Only people power will stop a cashless future from becoming reality,” he said.

“It was only 18 months ago Westpac was committed to closing regional and rural bank branches and bank executives were talking about how to help towns go cashless.”

Australia's four big banks Commonwealth, Westpac, NAB, ANZ, have all pledged to keep banks open. Picture: Newswire

The new service centres will be based in Moree, Leongatha and Smithon.

Wespac said the new regional service centres offer customers face-to-face support, while cash transactions will be provided through ATMs.

Westpac chief executive Anthony Miller said regional Australia is “pivotal” to the nation’s economy and that’s why branches in these areas are important.

”It’s home to a third of the population and contributes 30 per cent to GDP,” he said.

”We’re investing in the regions because we want to support the hardworking Australians who live outside of our capital cities.”

“We’ve thought long and hard about how we can provide a face-to-face service for our regional customers,” Mr Miller said.

“While most customers prefer to bank online, this new model will allow us to improve the way we help personal, business and agri customers.

The big four banks have all signed a moratorium on closing any future regional branch until at least 2027.

The Moree Westpac bank branch will be reopened after closing in 2023, despite being in the community for more than 150 years.

Westpac announced the reopening of three branches. Picture: NewsWire / Gaye Gerard

It was a similar story in both Leongatha with the bank closing down the branches in 2022.

“Moree is an economic powerhouse and while bank closures aren’t new, it’s extremely disappointing,” then-federal member for Parkes, Mark Coulton, said at the time.

“I speak with families who had members who joined Westpac the week they opened in 1876.”

“These are long-term customers who weren’t even notified.

The Moree centre will open later this year, while the Leongatha and Smithton centres are due to resume trading in early 2026.

Mr Bryce, who is currently running a petition with more than 200,000 Aussies to keep cash in circulation said he welcomed the news from Westpac.

“There’s been a change in mood. Two of the big four have agreed cash is here forever, so I am hopeful that we will have at least one bank branch and ATM in every town.

“The minimum we want to see is banks in every town and supermarkets and all other retailers, unless there’s a really good reason, they need to support cash,” he said.

Originally published as ‘People power’: Cash society claims win as big bank reopens branches