This as Westpac announces the closure of its Hay branch in February
Financial institutions have been urged to better communicate with customers as another Riverina branch closes its doors.
In the final report released by the Regional Banking Taskforce, it recommended the Australian Banking Association (ABA) to implement customer care standards by mid-2023.
The call comes as Westpac announced the closure of its Hay branch in February 2023 due to declining customer numbers. The move will leave the town with just two banks.
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“With more than 5 million digitally-active customers, we’re investing in services to complement how our customers choose to bank,” a Westpac Group spokesperson told The Daily Advertiser.
Jim Weeden, Wagga Senior Citizens Club president, said it’s the older members of the community who were most affected by the declining in-person banking services in the region.
“It affects them greatly, because a lot of seniors don’t have a computer,” Weeden told the publication. “They don't know how to do [banking online], and they're going to end up giving information to someone they shouldn’t.”
Read next: ASB shuts down nine branches, puts 25 more on reduced hours
Weeden said many elderly residents required assistance from relatives to access online banking services. Australia Post’s alternative services were suitable too, he said, provided they were equipped for more customers.
The Westpac Group spokesperson said the bank would provide “dedicated support" to Hay customers who are new to online banking.
“We will continue to support our customers in Hay during the transition with a dedicated team to assist customers,” they told The Advertiser. “Hay Post Shop is located just 33 metres from our current branch and will offer customers the same cash services including cash withdrawals, cheque and cash deposits, and account balance enquiries.”
The report also called on banks to communicate better with affected communities about closures.
In response, ABA said it would implement an “enhanced branch closure protocol” to strengthen customer care policies in the sector.
Westpac in Hay is the latest Riverina branch to get the chop, with Junee’s only bank to close in December. Last month, a co-branded Westpac and St George branch was opened in Wagga, The Daily Advertiser reported.
