Your local bank teller could soon disappear—and what’s coming next has senior customers worried

Margaret from Bendigo thought her 30-year bond with her local teller would last forever.

Every Friday morning, she dropped by for a chat about the grandkids and a helping hand with her pension forms.

Then came the letter—her branch was shutting down, and her banking world would now be ruled by apps and digital concierges.

Westpac’s Teller Cuts

Margaret was far from alone in this upheaval.

Westpac confirmed it was cutting 200 teller jobs across its branch network, striking another blow to traditional face-to-face service.

It was part of a wider restructure under new chief executive Anthony Miller, with as many as 2000 roles on the line under its ‘Unite’ strategy.

The bank said tellers would be replaced with concierges who guided customers through app transactions, ATM use, and online tools.

Rather than completing banking tasks directly, these staff would act as technology tutors.

Union voices condemned the move.

Finance Sector Union national secretary Julia Angrisano described it as ‘callous and short-sighted’, stressing that communities still relied on face-to-face service and workers should not be sacrificed for cost-cutting dressed up as innovation.

Westpac signalled the shift was strategic rather than purely about savings.

It planned to grow its home and business lending divisions, with 200 bankers to be added even as teller numbers shrank.

Earlier in the year, 33 teller staff had already been moved into the home finance team.

Industry in Upheaval

The shake-up at Westpac was part of a much larger industry-wide transformation.

The Finance Sector Union estimated that the Big Four Banks—NAB, ANZ, Westpac, and Commonwealth Bank—had cut 7,885 jobs this year alone, almost double the 4,665 lost in the previous year.

Across the industry, ANZ announced plans to axe 3,500 jobs and 1,000 contractor roles, NAB confirmed a restructure affecting 728 workers with 410 positions cut, and Commonwealth Bank initially moved to replace 45 staff with an AI chatbot before reversing the decision.

Regional Struggles

The effects were most severe in regional Australia.

APRA data showed nearly 800 regional branches closed between June 2017 and June 2023.

In Yarram, South Gippsland, the closure of a Bendigo Bank branch forced the local country club to pay an estimated $20,000 annually for secure cash transport.

Residents like Esme Rash told the ABC they now faced two-hour round trips just to access banking services.

For seniors on fixed incomes, those trips meant mounting costs and time burdens.

Seniors and Digital Banking

Yet the assumption that seniors had been left behind by technology was not entirely accurate.

ANZ research showed that 81 per cent of Australians aged 65 and over preferred internet banking, a rate consistent with the national average.

Nearly half a million ANZ customers in that age group were digitally active, narrowing the gap with younger customers.

Even so, seniors valued face-to-face contact for complex transactions or reassurance.

This digital confidence arrived just as sweeping reforms were set to reshape the industry in September 2025.

Banking Reforms Ahead

The reforms promised no monthly fees on pensioner-designated accounts, automatic refunds for some past charges, improved interest rates on savings, better protections, and broader access to fee-free ATMs.

Preparing for the Future

Australians were urged to prepare by setting up automatic payments, learning their bank’s digital platforms, and exploring services like Bank@Post at local post offices.

Smaller banks and credit unions were also positioning themselves as alternatives for senior customers seeking more personalised service.

Westpac chief Anthony Miller admitted in August that some regional closures had been mistakes.

He maintained that while 96 per cent of banking tasks were now done digitally, branches still provided essential human-to-human connections.

Finding Balance

The loss of tellers marked the end of an era, but reforms and digital adaptation offered new possibilities.

The challenge lay in finding balance—between cost-cutting and service, efficiency and human connection.

While many are worried about losing traditional banking services, some changes in the financial sector are offering unexpected perks.

In fact, banks are now competing harder than ever to win over customers, and a few are dangling generous rewards to do so.

If you’re curious about the kinds of offers currently on the table, this story highlights one of the easiest ways to pocket some extra cash.

Read more: Banks are practically giving away $100! Here’s how to get it

Have you had to change the way you bank due to branch closures or digital shifts—and what worked best for you in adapting?