Westpac Torquay to close

WESTPAC has confirmed its Torquay branch will permanently close in November.

The Gilbert Street outlet of the bank is already closed to the public and has been for some weeks, but a sign in the window has stated it’s temporarily closed.

“Declining customer use of branches means that in some instances, we may take a difficult decision to leave a branch location,” a spokesperson for the Westpac Group said.

“Our customers have access to Westpac Waurn Ponds 18km away as their supporting branch.

“Many customers can continue to access the same cash services locally via Australia Post at Torquay Post Shop, just 180m away from our current branch.”

The closure of the bank coincided with the recent release of the Regional Banking Taskforce’s report, a 12-month assessment of the impact of regional bank branch closures.
Comprised of senior representatives from the big four banks, Bendigo and Adelaide Bank, Bank of Queensland, peak business, commerce and local government groups and Australia Post, the taskforce made a series of findings and recommendations.

At the top of the list was an acknowledgement that “a lack of forewarning and transitional support can leave branch dependent customers frustrated, disappointed, and confused about how to do their banking.”

The first recommendation is for the Australian Banking Association (ABA) to review and strengthen its Branch Closure Protocol and introduce an ABA Customer Care Standard by mid-2023, “to improve communication and support when regional branches close or their hours are being permanently and materially reduced.”

Further recommendations include that banks “should” conduct and publish impact assessments of regional branch closures; promote banking services at Australia Post and ask it to consider the cash float needs of small business; and continue to support the digital literacy and connectivity of customers.

“We take steps to ensure customers are notified in advance about the changes and are directly connected with the services they need to continue to do their banking,” the Westpac spokesperson said of the bank’s Torquay closure.

“For those who are new to digital banking, or may require more assistance with the changes, we provide dedicated support and education to make the transition easier.”