Bank of Queensland closes down several branches across Australia

As we navigate through the ever-evolving landscape of banking and finance, many of us have witnessed a significant shift from traditional banking to digital banking.

This transition has been both a boon and a bane, depending on who you ask.

Yet for seniors, they heavily emphasise the importance of personal touch and the bank's physical presence in their communities.


In a move that took many Aussies by surprise, the Bank of Queensland announced the closure of about 16 branches across the country.

This decision left many of the bank's customers in a state of shock and concern, particularly those who rely on in-person banking services.

The closures, which are set to take place in February, were part of the bank's strategy to 'simplify operations' as it responds to the growing trend of digital banking.


Bank-of-Queensland-BOQ-image.jpg
Bank of Queensland has over 900,000 customers under their wing. Image Credit: Fairmont Equities


'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,' a Bank of Queensland spokesperson assured.

The bank also shared its excitement about welcoming customers through its digital channels and Bank@Post services.


However, the move sparked concerns about the impact of such closures on local communities, especially in rural areas.

Some customers expressed their dismay about the closures online.

'Fourteen bank branches closed, and Labor has done nothing to make protecting rural branches a priority,' an anonymous customer wrote.

The University of Western Australia shared that over 2,000 bank branches have closed across Australia since 2017.

Many of these closures have affected rural communities where digital services may be limited or customers who prefer face-to-face interactions.


The closure of these branches could pose significant challenges for seniors.

Whether it's dealing with the same teller or simply the lack of comfort with digital banking, these changes could be daunting.

Bank of Queensland branches closing on February.jpg
Here are the list of Bank of Queensland branches closing next month. Source: 7News

If your local branch is on the list, you need to find alternative banking services.

Bank@Post services at local post offices may offer in-person banking services, and other regional banks with physical branches are also an option.
Key Takeaways

  • The Bank of Queensland announced it will close 16 branches across multiple states.
  • This decision was a response to the increasing adoption of digital banking solutions.
  • Most team members from the closing branches will be moved to new roles within the bank's network.
  • The closures prompted concern for the impact on rural communities already experiencing reduced banking services.
Is your home bank affected by this closure? Have you found alternative banking solutions that could work for you? Let's talk about it in the comments section below.
 

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I'm not a customer of Bank of Queensland but I know people who are and have always been told this is a really good bank who look after their customers. It seems a shame that they have to close so many branches.
 
This is typical of the banking industry in Australia. Every bank is raking in millions of dollars hand-over-fist, but they continue to reduce their services to the ordinary people who need them. They could easily take a small loss here and there to provide a customer service, but they're too greedy.
 
The banks are closing branches and ATMs to force people to go digital, and become a cashless societ.
i went to the NAB and wanted to withdraw a significant amount, they would only give me $5,000
on each card I had with them..and should I want to withdraw any amounts over $5,000 I have to contact the bank prior and they would ensure the money is available.
I will put any extra monies into super fromnow on.
 
Digital is the key to control not sure if George Orwell wrote that in his books
 
It is extremely obvious that BOQ absolutely don't give a 'COWS CUSS' about, especially their older aged customers who really need them for specific personalised service.
No doubt, those customers, in the banks eye, are not wanted because of their needs, &, taking up too much time with staff,&, are an unwanted entity.
In other words, they don't give a 'SHIT'.
Save on costs at any price.
The reason is, All banks don't want to be service providers where all services don't make a profit, like providing cash or people to people contact.
 
I have a local NAB at the my small shopping centre, trouble is all you can do there is use the ATM’s !
They are closing so many banks and even post offices are closing and the ones still around don’t do everything these days, I went miles looking for one to renew my passport recently. It’s a great pity these places don’t give a thought to the older generation, I reckon they would be happy if we curled up and died !
 
The Royal Commission into the Banking system did nothing but make the Banks more arrogant towards the Australian people. Let them close and become irrelevant. I am sure that someone will find a better way of helping Australia become a much fairer place to live.
 
A GREAT CONCERN AND ALTHOUGH A DIFFICULT JOB ON MY PART WILL CLOSE ALL ACCOUNTS AND GET A LOCAL BANK TO LOOK AFTER MY BANKING. NOT APPROPRIATE BOQ?
AND WHAT A MESS YOU HAVE PUT US INTO.
BUSSELTON WA. (WE SEE BUNBURY IS ALSO MISSING FROM YOUR LIST OF CLOSED BRANCHES)
 
Westpac has closed its Wynnum branch. This area is known for its fairly large population of "oldies". but, apparently, Westpac doesn't care ...
No business cares two hoots about the man in the street... all they care about is the bottom line. They are forcing the public to go cashless.
 
Firstly we closed our NAB account, then our ANZ account. Looks like we're about to close another one that's going online...
 
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Firstly we closed our NAB account, then our ANZ account. Looks like we're about to close another one that's going online...
Slowly slowly catchee monkey is an old Chinese saying.
This is how they will introduce a cashless society.
 

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