Westpac is proposing to close its Dowling Street Dungog branch.
Westpac this week confirmed that the number of over-the-counter transactions in branches continues to decline, as customers look for simpler and more convenient ways to do their banking.
James Cudmore, Westpac State General Manager NSW Regional and ACT, said technology is fundamentally changing the way that regional customers are choosing to bank.
“Just two per cent of customer transactions take place across our branch network these days, as more customers choose to use digital banking channels like mobile banking, internet banking and smart ATMs,” he said.
In response to this shift in customer behaviour, Westpac is proposing to close the Westpac Dungog branch on Dowling St, which has experienced “a significant decline in new customers, foot traffic and transactional volumes over a number of years.”
“The way customers are choosing to bank with us has changed, and we wish for the entire Dungog community to know that the proposal to close the local Westpac branch is not something we take lightly,” Mr Cudmore said.
“We recognise that Dungog is a vibrant community where some customers and businesses still prefer face-to-face banking services, so we have partnered with the local Australia Post which is located 10 metres away to allow customers to access popular banking services over-the-counter.
“The Bank@Post service is already available in Dungog and is an easy and convenient way for customers to continue to perform their everyday transactions at no cost, such as depositing cash and cheques, cash withdrawals and balance enquiries,” he said.
A consultation process is currently underway with Westpac Dungog employees.
If the closure proceeds, Westpac intends to find redeployment opportunities for employees either within other branches or elsewhere in tWestpac, wherever possible.
Westpac will write to local customers in the near future to keep them informed, and the branch will work closely with customers to address any concerns.
Westpac will continue to have a strong presence across regional New South Wales.
Across Australia, Westpac has invested $76 million this financial year on new branches and refurbishments including technology upgrades. This includes a $2 million refurbishment of our Greenhills branch.
The closest Westpac branches to Dungog are Raymond Terrace, Greenhills and Maitland.