Westpac to close Hamilton Island bank branch after customer decline

There are fears Whitsunday tourists and workers could be left high and dry by the closure of a popular resort island’s only bank branch. Here’s what the company had to say.

Westpac’s forthcoming branch closure will leave no bank branches Hamilton Island.

Finance giant Westpac has assured its customers they will not be left high and dry by the closure of Hamilton Island’s only bank branch, pointing to a range of alternative banking methods that will remain available.

Westpac this week confirmed its Hamilton Island branch would close in response to customers’ shift towards digital and cashless banking preferences, as well as declining foot traffic in bank branches.

A Westpac spokeswoman said the company had observed such changes “since before the (Covid-19) pandemic” and that it was simply “following (its) customers by investing in the ways they are choosing to bank”.

The spokeswoman said the Hamilton Island branch had experienced a significant reduction in customer usage, “particularly since the island adopted a cashless system” and that other factors including location and proximity to other banking services had been considered as part of the decision.

“Westpac will continue to support Hamilton Island customers via our Bank@Post option with Australia Post, which is located just 400 metres from the current branch,” the spokeswoman said.

“To further assist customers who want to talk through their banking needs, Westpac has also grown its 24/7 phone banking and virtual banking centres.”

A Westpac spokeswoman said decision to close the Hamilton Island branch took into account customer usage, location and proximity to other banking services.

The date of the branch closure is yet to be confirmed, but the company plans to notify affected customers soon.

The Finance Sector Union has slammed the decision to close the Hamilton Island branch, along with five other branches in other parts of Australia, as “outrageous,” with FSU National secretary Julia Angrisano accusing the company of “abandoning” customers who “have nowhere else to go to access full banking services”.

Ms Angrisano said Hamilton Island’s “limited” service through Australia Post was not good enough to service the local community “because Westpac can withdraw from utilising the Post Office at the drop of a hat”.

Ms Angrisano claimed the six branch closures would impact on the jobs of 31 Westpac staff and said that while the bank was promising redeployment opportunities, there were concerns some staff could miss out.

Westpac declined to comment on the number of staff employed at the Hamilton Island branch or the number expected job losses.

Originally published as Westpac to close Hamilton Island bank branch after customer decline