The Bank of Queensland is set to shut 14 branches across four states, as it steadily moves towards cashless online banking.
The impacted branches will be Moonee Ponds, Docklands, Hampton and Richmond in Victoria; Bella Vista, Newtown and Rockdale in New South Wales; Carindale, Caloundra, Elanora, Springwood, Sherwood, and Toowong in Queensland; and Applecross in Western Australia.
The bank said the aim was to “simplify operations.”
“We are focused on supporting our people throughout this process and are pleased that most team members will transition to new roles across our network,” the spokesperson told The Epoch Times.
“As our branch network evolves in line with our business priorities and growth corridors, we remain committed to providing our customers with exceptional service.
“We look forward to welcoming customers to our other branches and continuing to support their banking needs via our digital channels and Bank at Post services.”
The spokesperson said customers were welcome to contact the bank “via the usual channels.”
Bank of Queensland operates largely on a franchise model with “owner managers” running individual branches.
The move comes as Australians overwhelmingly switch to online banking rather than go to branches, with data showing about 99 percent of customers bank online or through mobile apps.
In turn, banks are also closing physical branches.
Bendigo Bank Introduces Fee for Cash Withdrawals
In November last year, Bendigo Bank introduced a $2.50 fee for cash withdrawals at physical branches.The regional bank said the move was to “meet the evolving needs” of customers.
“Bendigo Bank removed the monthly service fee of $6 on Bendigo Everyday Accounts and at the same time, introduced a staff assisted service fee of $2.50 for cash withdrawals completed over the counter in our branches,” the bank’s spokesperson told The Epoch Times.
The bank advised it was reducing fees for post office transactions from $4 to $2.50, and that automatic teller machine (ATM) withdrawals would still be free.
Bendigo Bank said concession card holders were exempt from cash withdrawal or deposit fees.
“Importantly, these changes will result in a net reduction in fees paid by our customers,” the spokesperson said.
“In recognising that some customers may incur an increase in fees, our team members are standing by to help with alternative options and we encourage those customers to speak with us.”
Last year, the Commonwealth Bank attempted to introduce a $3 cash withdrawal fee, but later delayed the decision amid public pressure.
