Latest news with #bankclosure
Yahoo
14-07-2025
- Business
- Yahoo
Bendigo Bank customers fight against closure of last bank in town: ‘Kick in the guts'
Residents of Tasmania's Queenstown are fighting to keep the last bank branch in town open after Bendigo Bank announced it would shut its doors from September. The impending closure means their nearest bank branch is now a two-hour drive away. Janet Lay told Yahoo Finance she was 'absolutely furious' when she found out about the branch closure. The 47-year-old carer said she had been a customer with the bank for the last 20 years. 'It's not the only bank in town, it's the only bricks and mortar bank on the entire west coast,' Lay said. RELATED Bendigo Bank to shut 10 branches with regional towns left with no bank ATO tax return warning for 2 million Aussies over dangerous act Warning for working from home Aussies over common practice 'For the last 12 months, as the hours have been scaled back, we've continuously been told that, no, the bank's not closing down, the bank will always be here, we'll be here to support you. 'Now, a few months later, it's closing down. So Australia's most trusted bank, in the eyes of the west coast, is certainly not living up to its name.' Lay said she preferred to do her banking in person, including paying her mortgage every month, and predominantly transacted with cash. 'That's my preference. I prefer to have more control over my finances, as do a lot of people, so you can budget your money and you know exactly where every cent is going,' she said. The Queenstown branch is set to close permanently from Friday, September 26. It means residents will be a two-hour drive from their nearest branch in Burnie. Residents can access basic banking services through Australia Post's Bank@Post service, with limits for cash deposits and withdrawals in place. There is only one other ATM in town, an ATMx outside the Railway Supermarket, which charges fees.A Bendigo Bank spokesperson told Yahoo Finance the bank had made the 'difficult decision' to close the branch following 'a review of evolving customer preferences, a reduction in business activity and an increase in costs'. 'The Bank apologises for any inconvenience. Bendigo Bank is proud of its regional heritage and operates Australia's second largest regional branch network,' the spokesperson said. 'To preserve our ability to continue delivering for our customers and communities, we must ensure our branches are adequately supported and resourced.' Branch data showed there had been 61 cash withdrawals made at the branch in 2025, dropping from 141 cash withdrawals in 2021. Meanwhile, 2,433 cash deposits and 107 cheque deposits were made this year. About 308 personal banking customers and 66 business banking customers made three or more regular visits over the last year. The Queenstown closure was one of the 10 branches that Bendigo Bank confirmed would be closing in the coming months across Victoria, Queensland and Tasmania. The federal government struck a deal with the Big Four banks earlier this year to keep their regional banks open until at least mid-2027. An earlier solution floated by the government involved a levy on banks with little or no regional presence. The shift towards digital banking has been a big factor leading to the decline in bank branches, with the Australian Banking Association noting branch interactions had dropped 50 per cent in recent years. About 36 per cent of bank branches in regional Australia have closed since 2017, according to the government. West Coast Council Mayor Shane Pitt told Yahoo Finance the bank's closure would have a 'huge impact', particularly given the community's ageing population. 'A lot of people still like face-to-face banking and also the fact that they are pulling out the ATM as part of this bank closure means Queenstown will be left with just one ATM at the supermarket,' he said. 'Given that we rely on tourism a fair bit on the west coast as well, it's just another kick in the guts for tourism and the west coast.' Pitt said there was 'no consultation at all' with the community about the closure. He noted a Bendigo Bank representative had previously assured them 12 months ago that it would not be closing the bank. The Bendigo Bank previously operated five days a week but reduced hours to three days a week with lunch closures last year. It is now open only on Tuesdays from 10am to 1pm and Thursdays from 1:30pm to 4pm until its scheduled September closure. Pitt said he was fighting to keep the bank branch open. 'We've moved a motion to discuss with Bendigo Bank whether a community bank option is on the table and whether they will keep the bank open until at least June, 2026 when the lease of the building runs out so at least it gives us a chance to look at other options, if there is any,' he said. Lay has started an online petition opposing the bank closure, which has received more than 260 signatures. She said there was 'a lot of frustration in the community' over the closure. '[There's] a lot of upset people, a lot of anxiety about how they're going to manage their banking moving forward,' she said. 'Bendigo Bank in doing this is also sending out a message to people looking to move to the west coast, to businesses looking to open on the west coast, or the mines looking to do further investment, don't bother, the west coast is dead.'
CBC
03-07-2025
- Business
- CBC
Winnipeg's West End fights to keep bank
Residents of Winnipeg's West End held a demonstration Thursday in a last-ditch effort to save the RBC branch at Sargent Avenue and Sherbrook Street, one of two branches in the city that the bank is planning to close this month.
CBC
03-07-2025
- Business
- CBC
West End residents rally in last-ditch effort to stop RBC from shuttering local bank branch
Residents of Winnipeg's West End are rallying in a last-ditch effort to stop the looming closure of one of the last neighbourhood banks as RBC prepares to close two branches in the city this month. Community members held a protest at the corner of Sargent Avenue and Sherbrook Street on Thursday, repeating calls on RBC to halt plans to shutter its branch at that intersection July 10, a sign on the branch door says. The bank also plans to close its branch at 540 Main St. near City Hall on July 21. "We are really struggling in this community to keep businesses going and to keep our bank," said Lynne Somerville, who has lived in the West End for about 45 years and relies on the Sargent branch. "A lot of people in this area are elderly.… They don't have a car, a lot of people have walkers and wheelchairs and canes, so you need to be able to walk. A lot of people are on a fixed income." The next closest RBC branch is a 20-minute walk away, south of Portage Avenue in the Manitoba Hydro downtown headquarters. Another, on Ellice Avenue west of Empress Street, is a 40-minute walk or 10-minute bus ride. A TD branch on Notre Dame Avenue is the only other full-service bank in the West End. The Sargent location has been Kurtis McKenzie's home branch for years. He works at a pawn shop on Sargent that also uses the branch for business. He is upset the nearest alternative branch will have him driving downtown and paying for parking. "Also it's important for the pawn shop, because we get change from the bank … for our customers," he said. "There's a lot of reasons the bank should stay here, and I can't really understand the reasons why they wouldn't." An RBC spokesperson sent CBC News a statement Thursday that included some of the exact same phrasing provided to media during June 20 coverage of the Sargent closure. "Our branch network continually evolves and changes as we seek to serve our clients where and how they wish to conduct their banking," the statement says. "In some circumstances, this may involve combining branches, relocating certain branches, or opening new ones." The statement suggests the decision to merge its Sargent and Main branches with its Ellice and Portage branches, respectively, came as "consumer banking habits have evolved" to include more of a mix of telephone and online banking on top of traditional branch services and mobile expert advisors. Ralph Bryant attended a meeting with the RBC branch manager two weeks ago about community concerns. Bryant is a newer resident of the West End and said the loss of the Sargent RBC branch is effectively a "tax on the poor," because it will mean people on tight budgets are spending more to bus to the Ellice or Portage locations. "When you think about what makes a community, it's first and foremost the people, but it's also the resources and access to the things that they need, so they don't feel like they have to leave the neighbourhood," he said. "That's a $7 bus ride there and back, which for people on fixed incomes, for people who are worried about their bank accounts and keeping the money that they have, spending $7 just to do their basic banking is a lot." Local municipal, provincial and federal representatives — Coun. Cindy Gilroy (Daniel McIntyre), MLA Uzoma Asagwara (Union Station) and MP Leah Gazan (Winnipeg Centre) — all penned letters between the end of May and mid-June in an attempt to stop the closure. Asagwara still hasn't heard back from RBC, they said at the protest Thursday. "Having access to a local bank is fundamentally important for neighbourhoods. It helps support the local businesses in the community that keep our community thriving, and it supports all the folks in our neighbourhood who, really, banking in person is the way they meet their financial needs," they said. "The loss of this bank is going to have a huge impact on the community as a whole, and so I am hoping RBC listens to the voices of Union Station and reverses their decision." Gazan said she hasn't heard back from federal Finance Minister François-Philippe Champagne since sending him her letter, dated May 26, asking him to intervene. She said she is even more disappointed with RBC since she learned it will also close its Main branch location. "This is a crisis, especially for people that don't have vehicles, seniors, many newcomer families, in fact, that rely on these banks … to even set up bank accounts in our community," she said. "It's highly disappointing."
Yahoo
24-06-2025
- Business
- Yahoo
'They're always busy so why close?' - customers react to town bank closure
Locals in a Gwent town who bank with NatWest are losing their local branch and have spoken out about the decision. Cwmbran NatWest customers were left disappointed by the 'ridiculous' news that the Gwent Square branch is shutting. The branch. which operates in the shopping centre. is the only NatWest within the town. NatWest Cwmbran in Gwent Square is closing down (Image: NQ) Now its closure has been announced for September 1 as part of 50 more branch closures and a wider trend of banks closing their high street presences in towns across the UK. This means that customers can either switch to online banking or travel further afield to the nearest branch in Newport. The Argus went out in Cwmbran to ask local views on the closure. Christine Davies 72 was interviewed about NatWest Cwmbran (Image: NQ) Christine Davies aged 72 was 'disgusted' by the move. 'I won't travel to Newport. I'm absolutely disgusted with them closing because in my mind they're always busy so why close?" she said. 'It's ridiculous. We've got the post office that we can get cash from but still it's nice to go into a proper bank.' Like many people, Christine is not confident with online banking. She said: 'I don't do anything online. I'm absolutely useless with technology so it's very disappointing.' 18-year-old Evie Phillips was interviewed about NatWest Cwmbran (Image: NQ) At 18, Evie Phillips is of a younger generation but shared the concerns. 'I think it has quite a huge impact because obviously there's so many people who are with NatWest it's such a big bank," she said. 'I know it's affected my family, and the most local one is Newport it's not ideal.' Many people were reluctant to travel to Newport. Alun Barwell 80, and Margret Barwell 79 were interviewed about NatWest Cwmbran (Image: NQ) Alun Barwell 80, and Margret Barwell 79, have lived in the area their whole lives. Although they don't personally bank with NatWest the idea of travelling to a different location wasn't something they were on board with. Margret said: 'I wouldn't go all the way to Newport. It's no good me doing it online because I haven't got a clue.' Alun added: 'I never buy anything online anyway, because I come into town, I'm computer illiterate.' Joanne Day 48 was interviewed about NatWest Cwmbran (Left Michael Powell 60) (Image: NQ) Joanne Day, 48, and her mother are both NatWest customers. Joanne said: "It's going to be a bit of a nightmare isn't it because you've got to get on public transport now. 'My mother is 75, she wouldn't have a clue to use the app or anything like that she likes to go into the bank and pay her money in and draw it out over the counter. 'I'll manage with online banking, but my mum won't, so I'll have to help her.' Alun Barwell 80, and Margret Barwell 79 were interviewed about NatWest Cwmbran (Image: NQ) Also, unimpressed on the idea of online banking was Ian Harris, 72, and Lorraine Harris, 70. Ian said: 'People are very nervous when using online banking they don't trust it and there's so many scams today. 'I was caught out by one once but thankfully my bank Santander sorted it out for me.' Lorraine added: 'I think the same I don't use anything personal online.' Ian also explained this would impact people financially. 'If people have to travel further to find out what's happening with their money, they are going to incur more expenses. A lot of people are struggling to live now.' The interior of NatWest Cwmbran (Image: NQ) A spokesperson for NatWest said: 'We've recently announced that we're closing some branches. There's many other ways to continue banking with us. 'Banking has changed dramatically in recent years, with an increased demand for mobile and online services, as our customers benefit from a faster and easier way to bank. "Closing a branch is a decision we take very seriously.'
BBC News
11-06-2025
- Business
- BBC News
Closure of Natwest in Bridgwater criticised by local MP
An MP has said he is "deeply disappointed" by NatWest's decision to close its bank branch in a Somerset Fox, the Conservative MP for Bridgwater, said the move not only "risks excluding" vulnerable residents but will impact the number of shoppers on the high said over the last five years counter transactions have dropped by nearly 65% in the town as more customers "than ever before" switch to digital Bridgwater branch is due to close on 27 October, along with branches in Midsomer Norton and Portishead. Scott Thomas, who has been banking at NatWest since he was a teenager, said closing the branch was "disgusting"."This bank has been my bank for my whole life - I do my business banking with NatWest, they've always been so helpful and now what am I going to do?," he said."Without NatWest, I wouldn't have been able to set that [business account] up. I'm dyslexic and have ADHD. They sat there with me, done it with me, helped me and now to be told I have to do something online with no help, it's absolutely ridiculous." Madeleine Vann, said the closure was "sad"."It's all computers now and you're not dealing with a human being now, are you?" she said."That's why I've come in [to the bank] today, I wanted to see a human."Another local resident, Mary Cornish said she was "really, really shocked" by the news."I do online banking and that won't change but I like to go into the bank to get money out," she said."Such a shame isn't it. I will really miss it - popping in once a week." Other branches across the West earmarked for closure include Yate, Fishponds, Chippenham, Trowbridge and Fox, said the Bridgwater closure "risks excluding some of our most vulnerable residents"."Especially those who rely on in‑branch support to manage their finances with confidence," he added."It will also be a hit to our town centre, where the loss of regular footfall will add further strain to local high street businesses."He said he is "formally requesting" a meeting with NatWest to ensure they maintain "meaningful human support for those who need it most"."I will be pressing them to consider alternative face-to-face provision to ensure no one is left behind," he said. According to NatWest, nearly three quarters of customers using the Bridgwater branch have chosen to use online banking and the mobile app in the last the number of personal customers using the branch on average each month, was just over 220.A NatWest spokesperson said most of its customers were shifting to its "digital services" because of the "speed and convenience".In a statement, the spokesperson added that branch closures were "disappointing" but it was committed to ensuring the move online was "managed compassionately"."[We] proactively contact branch users who we know may need additional support when a branch closes," the said."And where there's a need we install community pop-ups to help customers become familiar with alternative banking services."
