THE increase in online banking is one of the main reasons why the ANZ Bank will close its Ulladulla branch on September 29 this year.
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ANZ General Manager for NSW, Michael Wake, explained why they made the decision to close the branch.
"In recent years we've seen a big change in the number of people who have moved to online options to do everything from shopping and watching films to doing their tax returns and banking, which is convenient and secure," Mr Wake said.
"In the last year alone, 70 percent of our customers preferred digital banking options and many of our few remaining passbook-only customers have been choosing to use debit cards for the first time.
"There is also a longer-term trend that has seen our in-branch transactions drop on average about 50 percent over the past four years. Customers are not using branches like they used to."
The bank knows the move will be an unpopular one.
"Despite many people changing their banking habits, we recognise the transition will be more challenging for some customers, particularly in rural or remote locations," Mr Wake said.
"We have notified customers personally about the Ulladulla branch closure and are letting them know about the alternatives they have available, including online banking, mobile lenders and mobile banking."
ANZ will be doing all they can to make sure the closure goes smoothly.
"We have provided a closure period of about six months to allow time for us to work with our customers on alternative banking methods, including specialist teams on the ground that can help them with the transition," Mr Wake said.
The ANZ General Manager for NSW said they will support their customers.
"ANZ also has a dedicated team that proactively calls elderly and vulnerable customers in areas where branches are closing to help them set up and navigate the ANZ App," he said.
"The team also assists them with other options including phone banking, accessing bank cheques, setting up a PayID via internet banking.
"For our business customers we have relationship bankers that will continue to visit them at their locations and we have mobile lenders to help home loan customers with their needs where it is most convenient for them.
"An ANZ ATM will also remain in Ulladulla."
There is also support for bank staff.
"For those employees who wish to stay with ANZ we will make every effort to find redeployment opportunities within the bank," Mr Wake said.
"For those who leave, we will provide access to career coaching and outplacement support as well as access to our career training fund, which we have doubled this year."
