Bendigo Bank to close 28 agencies around the country

Australia Broadcast Center

24-07-2025

Bendigo Bank has announced that it will be shutting down its agency model, which allowed customers to access banking services from smaller locations such as newsagencies, citing "decreasing customer use" as a factor.
Twenty-eight Bendigo Bank agencies across New South Wales, Victoria, Queensland, South Australia and Western Australia will close from October 2025.
In a statement, Bendigo Bank said its agency model was established 30 years ago and "enabled the bank to offer limited banking services via third parties in areas where there was not enough customer demand to sustain a branch".
Bendigo Bank's chief customer officer, consumer banking, Taso Corolis, said the decision was the result of changing customer preferences, which had led to reduced business activity, limited use of services, and increased costs and compliance obligations.
"To preserve what makes our bank unique, we must prioritise our investments across both physical and digital channels to continue meeting the changing needs and growing expectations of our 2.7 million customers," Mr Corolis said.
"We understand it may take time for some customers to adjust to these changes, and we will support them through this.
"We are proactively supporting customers affected by the closures and will offer them assistance."
Mr Corolis said the bank would be connecting customers with their closest alternate service.
For the regional Queensland town of Taroom, about 470 kilometres west of Brisbane, the agency closure is a blow to locals' financial security.
The agency's closure in Taroom will leave the town of about 800 people with the Australia Post outlet as its only in-person banking option.
The next Bendigo Bank branch is a two-hour drive to Mundubbera.
Taroom's overarching Bendigo Bank branch held a community meeting on July 16 to alert locals to the decision.
It was a shock for the more than 100 locals in attendance.
"[Bendigo Bank has] been in our town for 10 years; all the other banks have packed up and gone," attendee Steve Clarke said.
"The post office is not suitable for anyone who is a bit frail or on walkers. You can't get into the building.
"Where do we go from here?"
Federal member for Flynn Colin Boyce attended the Taroom community meeting.
He said he had concerns for the safety of locals when money was being moved.
"Post offices are only allowed to withdraw $2,000 as a maximum amount.
"And the problem with small communities when you have local races, shows and businesses, it's now a 400 kilometre round trip to the bank."
Despite the decision being described as permanent by Bendigo Bank's public statement, the Taroom community was seeking an audience with the bank's headquarters.
"All we can do is try," Mr Boyce said.
"Electronic banking is all about communication … when you live in these small rural communities, communication is somewhat suspect.
"To do online banking, a lot of the time it doesn't work because of the lack of communication."
Alpine Shire Council Mayor Sarah Nicholas said the announcement was disappointing for regional communities that needed local services.
Alpine Shire will lose the Bendigo bank agency in Myrtleford, in Victoria's north-east.
Cr Nicholas said it did not make sense to reduce services because the Alpine Shire was vibrant and growing.
She said residents in Myrtleford still had the option of a Commonwealth Bank branch, which nearly closed but amended its model to stay open.
Cr Nicholas said she had noticed people in her community changing financial institutions as banks closed down.
She said it was important that the digital skills gap was recognised.
"It's fine for the digital natives who are coming through, and they absolutely know how it all works, but people who have to build those skills up later in life often find it difficult to navigate," she said.