Westpac says the closure of eight of its branches will be put on hold ahead of a federal probe into the economic and social impacts of branch closures outside major capitals.
abc.net.au/news/westpac-postpones-regional-branch-closures-before-senate-inquiry/101982376Westpac will postpone the planned closures of eight of its branches across regional Australia, ahead of a federal Senate inquiry into the economic and social impacts of such closures.
"Westpac will postpone eight regional branch closures that were announced in February 2023," he said.The branches to remain open during the inquiry include the Robinvale and Sale branches in Victoria; Denmark in Western Australia; Gatton, Cloncurry, Ingham and Tully in Queensland; and the BankSA branch in Kingston, South Australia, which is owned by Westpac.
"We're also talking about the more vulnerable people in the community, elderly people, people who might be low income earners or who have poor digital literacy or may come from an Indigenous background."Gary and Cheryl Garth won an award for Victorian newsagents of the year in 2021. "Makes it very difficult for the business people, because I know some people from Morwell and Moe come across to Traralgon," he said.
He said banks appeared to be "fast-tracking" closures before new guidelines about shutting branches came into effect.Darren Chester says banks should consider more innovative solutions.
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