In an unexpected twist, Shayne Elliott, the CEO of ANZ bank, appeared to place the blame on customers for numerous bank branch closures across the country.

Under Elliott's leadership, the number of ANZ branches all over Australia plummeted by 42 per cent from 678 in 2017 to a mere 391 as of 2023.

As per the CEO's tally, of the remaining branches, 250 are nestled in large cities, with 75 in inner-regional areas.

Digital banking has revolutionised the way we manage our finances, offering convenience, speed, and accessibility to a wide range of services. Source: ANZ

As for the outer regional towns and remote locations—they are left with a dwindling number of 47 and 19 branches, respectively.

Put those figures next to our population, and you’ll realise that our banks are now similar to hard-to-find establishments that are often closed when you need them the most.

Now, let's dive into the heart of the matter. During a parliament hearing, Mr Elliott made a surprising statement.

Customers, according to him, often express concerns about bank branch closures, yet the majority of their transactions are conducted online.

Since assuming leadership at ANZ in 2016, Elliott mentioned that as of 2021, only 35 branches have been closed. Astonishingly, 96 per cent of customers have embraced digital transactions.

'Only eight per cent of our customers only use a branch and don't have any sort of digital relationship with us,' he said.

However, it is important to acknowledge that not everyone is well-versed in digital literacy, especially in rural areas where access to reliable internet connectivity is limited.

Considering this, it is worth discussing the potential impact of these closures on the social fabric of these communities. Mr Elliott proposed keeping remote branches open only during morning hours.

The closure of physical bank branches raises concerns about access for those who rely on in-person assistance, particularly in rural areas or for individuals with limited digital literacy. Image by eduschadesoares from unsplash

He said, 'Remote towns, part of the country, are difficult to service in general whether that's banking or supermarkets or petrol stations or whatever it might be.’

He then added, ‘From a banking perspective, we are fortunate in the fact that generally we provide all those services in an alternative way, as long as there's good internet connection or telephone service.'

Despite ANZ's market performance on a tear—with a cash profit of $6.496 billion in the year to September 2022—its share price of $23.92 struggled to reach the $25.34 level when Elliott sauntered into the CEO role in January 2016.

It’s enough to make someponder: are these branch closures ruffling some investor feathers too?

Another significant point Mr Elliott mentioned was about an experiment in New Zealand, where major banks tried sharing a branch to save on costs.

Ultimately, the experiment was not successful.

Mr Elliott, however, added ANZ could install more smart automatic teller machines that accepted cash deposits to fill the gap due to branch closures.

'Part of the solution is ATMs, again it's not the same but we have smart ATMs, they take deposits, dispense cash, and coin machines and all sorts of things that the industry and ourselves invest in to try and make it as smooth as possible.' Mr Elliott said.

Key Takeaways

• ANZ's Chief Executive, Shayne Elliott, has blamed customers for bank branch closures, stating that most customers complete their transactions online.
• Under Shayne Elliott's leadership, the number of ANZ branches in Australia has decreased by 42 per cent from 678 in 2017 to 391.
• Despite these closures, the bank returned a cash profit of $6.496 billion in the year to September 2022, excluding the Covid lockdown recession of 2020.
• Mr Elliott suggested alternative solutions to maintain banking services in remote areas, such as smart ATMs that accept cash deposits and more limited banking hours for branches.

It's important to recognise that we contribute tobanks' wealth by pooling our hard-earned money into their coffers and investments.

Whether we are shareholders or regular customers, whether we engage in in-person or online banking, it is crucial to remember our choices as customers—like choosing to go to bank branches in-person, or simply transacting online—can have large-scale implications in the long run.

Do you believe customers bear responsibility for the closure ofbank branches like ANZ’s? Share your thoughts on the impact of digital transactions and online banking on the need for physical bank branches, and whether you think alternative solutions should be explored to maintain banking services in remote areas.

 

[FrankS]

All the Big Banks are bad, but, ANZ are by far the worst ! They close the branch AND take away the ATM ! The Government should FORCE ANZ to open an Agency at the Post Office wherever they close a branch.
Other banks can do it, why can't ANZ ??? Because ANZ don't give a monkey's t**s ! about their customers - That's why !!!

 

[Ralph's mum]

In an unexpected twist, Shayne Elliott, the CEO of ANZ bank, appeared to place the blame on customers for numerous bank branch closures across the country.

Under Elliott's leadership, the number of ANZ branches all over Australia plummeted by 42 per cent from 678 in 2017 to a mere 391 as of 2023.

As per the CEO's tally, of the remaining branches, 250 are nestled in large cities, with 75 in inner-regional areas.

View attachment 25008

Digital banking has revolutionised the way we manage our finances, offering convenience, speed, and accessibility to a wide range of services. Source: ANZ

As for the outer regional towns and remote locations—they are left with a dwindling number of 47 and 19 branches, respectively.

Put those figures next to our population, and you’ll realise that our banks are now similar to hard-to-find establishments that are often closed when you need them the most.

Now, let's dive into the heart of the matter. During a parliament hearing, Mr Elliott made a surprising statement.

Customers, according to him, often express concerns about bank branch closures, yet the majority of their transactions are conducted online.

Since assuming leadership at ANZ in 2016, Elliott mentioned that as of 2021, only 35 branches have been closed. Astonishingly, 96 per cent of customers have embraced digital transactions.

'Only eight per cent of our customers only use a branch and don't have any sort of digital relationship with us,' he said.

However, it is important to acknowledge that not everyone is well-versed in digital literacy, especially in rural areas where access to reliable internet connectivity is limited.

Considering this, it is worth discussing the potential impact of these closures on the social fabric of these communities. Mr Elliott proposed keeping remote branches open only during morning hours.

View attachment 25009

The closure of physical bank branches raises concerns about access for those who rely on in-person assistance, particularly in rural areas or for individuals with limited digital literacy. Image by eduschadesoares from unsplash

He said, 'Remote towns, part of the country, are difficult to service in general whether that's banking or supermarkets or petrol stations or whatever it might be.’

He then added, ‘From a banking perspective, we are fortunate in the fact that generally we provide all those services in an alternative way, as long as there's good internet connection or telephone service.'

Despite ANZ's market performance on a tear—with a cash profit of $6.496 billion in the year to September 2022—its share price of $23.92 struggled to reach the $25.34 level when Elliott sauntered into the CEO role in January 2016.

It’s enough to make someponder: are these branch closures ruffling some investor feathers too?

Another significant point Mr Elliott mentioned was about an experiment in New Zealand, where major banks tried sharing a branch to save on costs.

Ultimately, the experiment was not successful.

Mr Elliott, however, added ANZ could install more smart automatic teller machines that accepted cash deposits to fill the gap due to branch closures.

'Part of the solution is ATMs, again it's not the same but we have smart ATMs, they take deposits, dispense cash, and coin machines and all sorts of things that the industry and ourselves invest in to try and make it as smooth as possible.' Mr Elliott said.

Key Takeaways

• ANZ's Chief Executive, Shayne Elliott, has blamed customers for bank branch closures, stating that most customers complete their transactions online.
• Under Shayne Elliott's leadership, the number of ANZ branches in Australia has decreased by 42 per cent from 678 in 2017 to 391.
• Despite these closures, the bank returned a cash profit of $6.496 billion in the year to September 2022, excluding the Covid lockdown recession of 2020.
• Mr Elliott suggested alternative solutions to maintain banking services in remote areas, such as smart ATMs that accept cash deposits and more limited banking hours for branches.

It's important to recognise that we contribute tobanks' wealth by pooling our hard-earned money into their coffers and investments.

Whether we are shareholders or regular customers, whether we engage in in-person or online banking, it is crucial to remember our choices as customers—like choosing to go to bank branches in-person, or simply transacting online—can have large-scale implications in the long run.

Do you believe customers bear responsibility for the closure ofbank branches like ANZ’s? Share your thoughts on the impact of digital transactions and online banking on the need for physical bank branches, and whether you think alternative solutions should be explored to maintain banking services in remote areas.

I HAVE BEEN TOLD TO USE ATM FOR TRANSACTIONS AND COMPUTER BANKING!!!! THE ONLY TIME I GET TELLER ASSISTANCE IS WHEN I NEED OTHER DONOMINATIONS THAT THE ATM DOESN'T DISPENSE
DON'T BLAME CUSTOMERS FOR THE CLOSURES I MUCH PREFER TO DEAL WITH FRIENDLY STAFF

 

[Vikki.]

What also annoys me, Banks want ALL of Australia to be cashless, once again relying on the consumer only having access to a credit or debit card.
Banks should not have control on our hard earned money, particularly when they refuse to give you your cash, and remove branches and teller machines.
Its proven that banking online, is not secure, how many people are being scammed, and how often are the banks being hacked.
why should we be blackmailed, and held to ransom, by these untrustworthy businesses.
Give me cash any day.

 

[Sheenagh]

In an unexpected twist, Shayne Elliott, the CEO of ANZ bank, appeared to place the blame on customers for numerous bank branch closures across the country.

Under Elliott's leadership, the number of ANZ branches all over Australia plummeted by 42 per cent from 678 in 2017 to a mere 391 as of 2023.

As per the CEO's tally, of the remaining branches, 250 are nestled in large cities, with 75 in inner-regional areas.

View attachment 25008

Digital banking has revolutionised the way we manage our finances, offering convenience, speed, and accessibility to a wide range of services. Source: ANZ

As for the outer regional towns and remote locations—they are left with a dwindling number of 47 and 19 branches, respectively.

Put those figures next to our population, and you’ll realise that our banks are now similar to hard-to-find establishments that are often closed when you need them the most.

Now, let's dive into the heart of the matter. During a parliament hearing, Mr Elliott made a surprising statement.

Customers, according to him, often express concerns about bank branch closures, yet the majority of their transactions are conducted online.

Since assuming leadership at ANZ in 2016, Elliott mentioned that as of 2021, only 35 branches have been closed. Astonishingly, 96 per cent of customers have embraced digital transactions.

'Only eight per cent of our customers only use a branch and don't have any sort of digital relationship with us,' he said.

However, it is important to acknowledge that not everyone is well-versed in digital literacy, especially in rural areas where access to reliable internet connectivity is limited.

Considering this, it is worth discussing the potential impact of these closures on the social fabric of these communities. Mr Elliott proposed keeping remote branches open only during morning hours.

View attachment 25009

The closure of physical bank branches raises concerns about access for those who rely on in-person assistance, particularly in rural areas or for individuals with limited digital literacy. Image by eduschadesoares from unsplash

He said, 'Remote towns, part of the country, are difficult to service in general whether that's banking or supermarkets or petrol stations or whatever it might be.’

He then added, ‘From a banking perspective, we are fortunate in the fact that generally we provide all those services in an alternative way, as long as there's good internet connection or telephone service.'

Despite ANZ's market performance on a tear—with a cash profit of $6.496 billion in the year to September 2022—its share price of $23.92 struggled to reach the $25.34 level when Elliott sauntered into the CEO role in January 2016.

It’s enough to make someponder: are these branch closures ruffling some investor feathers too?

Another significant point Mr Elliott mentioned was about an experiment in New Zealand, where major banks tried sharing a branch to save on costs.

Ultimately, the experiment was not successful.

Mr Elliott, however, added ANZ could install more smart automatic teller machines that accepted cash deposits to fill the gap due to branch closures.

'Part of the solution is ATMs, again it's not the same but we have smart ATMs, they take deposits, dispense cash, and coin machines and all sorts of things that the industry and ourselves invest in to try and make it as smooth as possible.' Mr Elliott said.

Key Takeaways

• ANZ's Chief Executive, Shayne Elliott, has blamed customers for bank branch closures, stating that most customers complete their transactions online.
• Under Shayne Elliott's leadership, the number of ANZ branches in Australia has decreased by 42 per cent from 678 in 2017 to 391.
• Despite these closures, the bank returned a cash profit of $6.496 billion in the year to September 2022, excluding the Covid lockdown recession of 2020.
• Mr Elliott suggested alternative solutions to maintain banking services in remote areas, such as smart ATMs that accept cash deposits and more limited banking hours for branches.

It's important to recognise that we contribute tobanks' wealth by pooling our hard-earned money into their coffers and investments.

Whether we are shareholders or regular customers, whether we engage in in-person or online banking, it is crucial to remember our choices as customers—like choosing to go to bank branches in-person, or simply transacting online—can have large-scale implications in the long run.

Do you believe customers bear responsibility for the closure ofbank branches like ANZ’s? Share your thoughts on the impact of digital transactions and online banking on the need for physical bank branches, and whether you think alternative solutions should be explored to maintain banking services in remote areas.

How do idiots like Shayne Elliott get these jobs?

Lets talk ANZ. Closing branches - saving heaps on leases/staff/utilities.
Then "refurbishing branches that are left" but Geelong West branch then had tellers standing unprotected on the branch floor - an absolute disgrace.
I worked for the ANZ many years ago when they were getting knocked over like flies and it was terrifying to say the least, how dare they offer no security to their staff - wheres the Occ Health and Safety there.
Corio branch was refurbished so much it disappeared altogether.

The carry on that goes on at ANZ Malop Street branch by some disgusting individuals is beyond belief. You have to see it to believe it. Screaming/yelling/demanding/abusing/slamming furniture/banging on glass screens the other customers and the staff have to put up with - where are you now Shayne? When was the last time you got out of your leather executive lazyboy (oh maybe that the answer) lazyboy?

This Country does not provide any of us with sufficient data safety to keep our data safe.
The reason we are all being told that we will be a cashless society is that if they yell it loud enough some people will believe it and guess what, by you using nothing but card your every move can be tracked. There will be nothing that is our own business.

Isnt it the customers that kept these branches open by paying bank fees - I think so.

And cashless, are you kidding, how many times do the machines go down and people are leaving their licence at the servo or the trolley full of goods because they have no cash - lesson, always carry some cash.
Even the beggars on the streets of Melbourne have mobile eftpos - is that a joke?

If there is no cash around what did the people who withdrew $8.2billion, yes billion from ATMs last year do with the cash, why did they need it?

Enough media and fools, if you agree to the banks closing down then you must not have any empathy for those in the community that are vulnerable or disabled or in need of support. These people are being made to use ATMs in the street at risk of serious injury/violence for maybe only $50.

I wrote to the ANZ management many months ago but they dont clearly pay some one enough to write a reply.

Rant over but it makes me sick to see whats happened in this Country.

 

[Jay Jay]

When I was i

In an unexpected twist, Shayne Elliott, the CEO of ANZ bank, appeared to place the blame on customers for numerous bank branch closures across the country.

Under Elliott's leadership, the number of ANZ branches all over Australia plummeted by 42 per cent from 678 in 2017 to a mere 391 as of 2023.

As per the CEO's tally, of the remaining branches, 250 are nestled in large cities, with 75 in inner-regional areas.

View attachment 25008

Digital banking has revolutionised the way we manage our finances, offering convenience, speed, and accessibility to a wide range of services. Source: ANZ

As for the outer regional towns and remote locations—they are left with a dwindling number of 47 and 19 branches, respectively.

Put those figures next to our population, and you’ll realise that our banks are now similar to hard-to-find establishments that are often closed when you need them the most.

Now, let's dive into the heart of the matter. During a parliament hearing, Mr Elliott made a surprising statement.

Customers, according to him, often express concerns about bank branch closures, yet the majority of their transactions are conducted online.

Since assuming leadership at ANZ in 2016, Elliott mentioned that as of 2021, only 35 branches have been closed. Astonishingly, 96 per cent of customers have embraced digital transactions.

'Only eight per cent of our customers only use a branch and don't have any sort of digital relationship with us,' he said.

However, it is important to acknowledge that not everyone is well-versed in digital literacy, especially in rural areas where access to reliable internet connectivity is limited.

Considering this, it is worth discussing the potential impact of these closures on the social fabric of these communities. Mr Elliott proposed keeping remote branches open only during morning hours.

View attachment 25009

The closure of physical bank branches raises concerns about access for those who rely on in-person assistance, particularly in rural areas or for individuals with limited digital literacy. Image by eduschadesoares from unsplash

He said, 'Remote towns, part of the country, are difficult to service in general whether that's banking or supermarkets or petrol stations or whatever it might be.’

He then added, ‘From a banking perspective, we are fortunate in the fact that generally we provide all those services in an alternative way, as long as there's good internet connection or telephone service.'

Despite ANZ's market performance on a tear—with a cash profit of $6.496 billion in the year to September 2022—its share price of $23.92 struggled to reach the $25.34 level when Elliott sauntered into the CEO role in January 2016.

It’s enough to make someponder: are these branch closures ruffling some investor feathers too?

Another significant point Mr Elliott mentioned was about an experiment in New Zealand, where major banks tried sharing a branch to save on costs.

Ultimately, the experiment was not successful.

Mr Elliott, however, added ANZ could install more smart automatic teller machines that accepted cash deposits to fill the gap due to branch closures.

'Part of the solution is ATMs, again it's not the same but we have smart ATMs, they take deposits, dispense cash, and coin machines and all sorts of things that the industry and ourselves invest in to try and make it as smooth as possible.' Mr Elliott said.

Key Takeaways

• ANZ's Chief Executive, Shayne Elliott, has blamed customers for bank branch closures, stating that most customers complete their transactions online.
• Under Shayne Elliott's leadership, the number of ANZ branches in Australia has decreased by 42 per cent from 678 in 2017 to 391.
• Despite these closures, the bank returned a cash profit of $6.496 billion in the year to September 2022, excluding the Covid lockdown recession of 2020.
• Mr Elliott suggested alternative solutions to maintain banking services in remote areas, such as smart ATMs that accept cash deposits and more limited banking hours for branches.

It's important to recognise that we contribute tobanks' wealth by pooling our hard-earned money into their coffers and investments.

Whether we are shareholders or regular customers, whether we engage in in-person or online banking, it is crucial to remember our choices as customers—like choosing to go to bank branches in-person, or simply transacting online—can have large-scale implications in the long run.

Do you believe customers bear responsibility for the closure ofbank branches like ANZ’s? Share your thoughts on the impact of digital transactions and online banking on the need for physical bank branches, and whether you think alternative solutions should be explored to maintain banking services in remote areas.

n Scotland in mid 2019

In an unexpected twist, Shayne Elliott, the CEO of ANZ bank, appeared to place the blame on customers for numerous bank branch closures across the country.

Under Elliott's leadership, the number of ANZ branches all over Australia plummeted by 42 per cent from 678 in 2017 to a mere 391 as of 2023.

As per the CEO's tally, of the remaining branches, 250 are nestled in large cities, with 75 in inner-regional areas.

View attachment 25008

Digital banking has revolutionised the way we manage our finances, offering convenience, speed, and accessibility to a wide range of services. Source: ANZ

As for the outer regional towns and remote locations—they are left with a dwindling number of 47 and 19 branches, respectively.

Put those figures next to our population, and you’ll realise that our banks are now similar to hard-to-find establishments that are often closed when you need them the most.

Now, let's dive into the heart of the matter. During a parliament hearing, Mr Elliott made a surprising statement.

Customers, according to him, often express concerns about bank branch closures, yet the majority of their transactions are conducted online.

Since assuming leadership at ANZ in 2016, Elliott mentioned that as of 2021, only 35 branches have been closed. Astonishingly, 96 per cent of customers have embraced digital transactions.

'Only eight per cent of our customers only use a branch and don't have any sort of digital relationship with us,' he said.

However, it is important to acknowledge that not everyone is well-versed in digital literacy, especially in rural areas where access to reliable internet connectivity is limited.

Considering this, it is worth discussing the potential impact of these closures on the social fabric of these communities. Mr Elliott proposed keeping remote branches open only during morning hours.

View attachment 25009

The closure of physical bank branches raises concerns about access for those who rely on in-person assistance, particularly in rural areas or for individuals with limited digital literacy. Image by eduschadesoares from unsplash

He said, 'Remote towns, part of the country, are difficult to service in general whether that's banking or supermarkets or petrol stations or whatever it might be.’

He then added, ‘From a banking perspective, we are fortunate in the fact that generally we provide all those services in an alternative way, as long as there's good internet connection or telephone service.'

Despite ANZ's market performance on a tear—with a cash profit of $6.496 billion in the year to September 2022—its share price of $23.92 struggled to reach the $25.34 level when Elliott sauntered into the CEO role in January 2016.

It’s enough to make someponder: are these branch closures ruffling some investor feathers too?

Another significant point Mr Elliott mentioned was about an experiment in New Zealand, where major banks tried sharing a branch to save on costs.

Ultimately, the experiment was not successful.

Mr Elliott, however, added ANZ could install more smart automatic teller machines that accepted cash deposits to fill the gap due to branch closures.

'Part of the solution is ATMs, again it's not the same but we have smart ATMs, they take deposits, dispense cash, and coin machines and all sorts of things that the industry and ourselves invest in to try and make it as smooth as possible.' Mr Elliott said.

Key Takeaways

• ANZ's Chief Executive, Shayne Elliott, has blamed customers for bank branch closures, stating that most customers complete their transactions online.
• Under Shayne Elliott's leadership, the number of ANZ branches in Australia has decreased by 42 per cent from 678 in 2017 to 391.
• Despite these closures, the bank returned a cash profit of $6.496 billion in the year to September 2022, excluding the Covid lockdown recession of 2020.
• Mr Elliott suggested alternative solutions to maintain banking services in remote areas, such as smart ATMs that accept cash deposits and more limited banking hours for branches.

It's important to recognise that we contribute tobanks' wealth by pooling our hard-earned money into their coffers and investments.

Whether we are shareholders or regular customers, whether we engage in in-person or online banking, it is crucial to remember our choices as customers—like choosing to go to bank branches in-person, or simply transacting online—can have large-scale implications in the long run.

Do you believe customers bear responsibility for the closure ofbank branches like ANZ’s? Share your thoughts on the impact of digital transactions and online banking on the need for physical bank branches, and whether you think alternative solutions should be explored to maintain banking services in remote areas.

When visiting the UK in mid 2019 I visited the small town of Mallaig in Scotland. That area of islands, small and often isolated coastal villages, had also suffered 'bank closure disease' however they instituted an excellent alternative - a mobile bank that operated like our mobile libraries. I saw one in operation and people were able to complete most of their banking transactions from a brilliantly set up truck with real bank personnel and facilities. Although the mobile bank was on a weekly schedule, at least all residents and businesses knew rhat for one set day per week they had access to 'real' banking.
Why can't we do the same??

 

[Shane/#]

In an unexpected twist, Shayne Elliott, the CEO of ANZ bank, appeared to place the blame on customers for numerous bank branch closures across the country.

Under Elliott's leadership, the number of ANZ branches all over Australia plummeted by 42 per cent from 678 in 2017 to a mere 391 as of 2023.

As per the CEO's tally, of the remaining branches, 250 are nestled in large cities, with 75 in inner-regional areas.

View attachment 25008

Digital banking has revolutionised the way we manage our finances, offering convenience, speed, and accessibility to a wide range of services. Source: ANZ

As for the outer regional towns and remote locations—they are left with a dwindling number of 47 and 19 branches, respectively.

Put those figures next to our population, and you’ll realise that our banks are now similar to hard-to-find establishments that are often closed when you need them the most.

Now, let's dive into the heart of the matter. During a parliament hearing, Mr Elliott made a surprising statement.

Customers, according to him, often express concerns about bank branch closures, yet the majority of their transactions are conducted online.

Since assuming leadership at ANZ in 2016, Elliott mentioned that as of 2021, only 35 branches have been closed. Astonishingly, 96 per cent of customers have embraced digital transactions.

'Only eight per cent of our customers only use a branch and don't have any sort of digital relationship with us,' he said.

However, it is important to acknowledge that not everyone is well-versed in digital literacy, especially in rural areas where access to reliable internet connectivity is limited.

Considering this, it is worth discussing the potential impact of these closures on the social fabric of these communities. Mr Elliott proposed keeping remote branches open only during morning hours.

View attachment 25009

The closure of physical bank branches raises concerns about access for those who rely on in-person assistance, particularly in rural areas or for individuals with limited digital literacy. Image by eduschadesoares from unsplash

He said, 'Remote towns, part of the country, are difficult to service in general whether that's banking or supermarkets or petrol stations or whatever it might be.’

He then added, ‘From a banking perspective, we are fortunate in the fact that generally we provide all those services in an alternative way, as long as there's good internet connection or telephone service.'

Despite ANZ's market performance on a tear—with a cash profit of $6.496 billion in the year to September 2022—its share price of $23.92 struggled to reach the $25.34 level when Elliott sauntered into the CEO role in January 2016.

It’s enough to make someponder: are these branch closures ruffling some investor feathers too?

Another significant point Mr Elliott mentioned was about an experiment in New Zealand, where major banks tried sharing a branch to save on costs.

Ultimately, the experiment was not successful.

Mr Elliott, however, added ANZ could install more smart automatic teller machines that accepted cash deposits to fill the gap due to branch closures.

'Part of the solution is ATMs, again it's not the same but we have smart ATMs, they take deposits, dispense cash, and coin machines and all sorts of things that the industry and ourselves invest in to try and make it as smooth as possible.' Mr Elliott said.

Key Takeaways

• ANZ's Chief Executive, Shayne Elliott, has blamed customers for bank branch closures, stating that most customers complete their transactions online.
• Under Shayne Elliott's leadership, the number of ANZ branches in Australia has decreased by 42 per cent from 678 in 2017 to 391.
• Despite these closures, the bank returned a cash profit of $6.496 billion in the year to September 2022, excluding the Covid lockdown recession of 2020.
• Mr Elliott suggested alternative solutions to maintain banking services in remote areas, such as smart ATMs that accept cash deposits and more limited banking hours for branches.

It's important to recognise that we contribute tobanks' wealth by pooling our hard-earned money into their coffers and investments.

Whether we are shareholders or regular customers, whether we engage in in-person or online banking, it is crucial to remember our choices as customers—like choosing to go to bank branches in-person, or simply transacting online—can have large-scale implications in the long run.

Do you believe customers bear responsibility for the closure ofbank branches like ANZ’s? Share your thoughts on the impact of digital transactions and online banking on the need for physical bank branches, and whether you think alternative solutions should be explored to maintain banking services in remote areas.

I hope this CEO piece of has had his wages and bonuses reduced for his pathetic ideals bloody lowlife blaming the customer

 

[rehandra]

In an unexpected twist, Shayne Elliott, the CEO of ANZ bank, appeared to place the blame on customers for numerous bank branch closures across the country.

Under Elliott's leadership, the number of ANZ branches all over Australia plummeted by 42 per cent from 678 in 2017 to a mere 391 as of 2023.

As per the CEO's tally, of the remaining branches, 250 are nestled in large cities, with 75 in inner-regional areas.

View attachment 25008

Digital banking has revolutionised the way we manage our finances, offering convenience, speed, and accessibility to a wide range of services. Source: ANZ

As for the outer regional towns and remote locations—they are left with a dwindling number of 47 and 19 branches, respectively.

Put those figures next to our population, and you’ll realise that our banks are now similar to hard-to-find establishments that are often closed when you need them the most.

Now, let's dive into the heart of the matter. During a parliament hearing, Mr Elliott made a surprising statement.

Customers, according to him, often express concerns about bank branch closures, yet the majority of their transactions are conducted online.

Since assuming leadership at ANZ in 2016, Elliott mentioned that as of 2021, only 35 branches have been closed. Astonishingly, 96 per cent of customers have embraced digital transactions.

'Only eight per cent of our customers only use a branch and don't have any sort of digital relationship with us,' he said.

However, it is important to acknowledge that not everyone is well-versed in digital literacy, especially in rural areas where access to reliable internet connectivity is limited.

Considering this, it is worth discussing the potential impact of these closures on the social fabric of these communities. Mr Elliott proposed keeping remote branches open only during morning hours.

View attachment 25009

The closure of physical bank branches raises concerns about access for those who rely on in-person assistance, particularly in rural areas or for individuals with limited digital literacy. Image by eduschadesoares from unsplash

He said, 'Remote towns, part of the country, are difficult to service in general whether that's banking or supermarkets or petrol stations or whatever it might be.’

He then added, ‘From a banking perspective, we are fortunate in the fact that generally we provide all those services in an alternative way, as long as there's good internet connection or telephone service.'

Despite ANZ's market performance on a tear—with a cash profit of $6.496 billion in the year to September 2022—its share price of $23.92 struggled to reach the $25.34 level when Elliott sauntered into the CEO role in January 2016.

It’s enough to make someponder: are these branch closures ruffling some investor feathers too?

Another significant point Mr Elliott mentioned was about an experiment in New Zealand, where major banks tried sharing a branch to save on costs.

Ultimately, the experiment was not successful.

Mr Elliott, however, added ANZ could install more smart automatic teller machines that accepted cash deposits to fill the gap due to branch closures.

'Part of the solution is ATMs, again it's not the same but we have smart ATMs, they take deposits, dispense cash, and coin machines and all sorts of things that the industry and ourselves invest in to try and make it as smooth as possible.' Mr Elliott said.

Key Takeaways

• ANZ's Chief Executive, Shayne Elliott, has blamed customers for bank branch closures, stating that most customers complete their transactions online.
• Under Shayne Elliott's leadership, the number of ANZ branches in Australia has decreased by 42 per cent from 678 in 2017 to 391.
• Despite these closures, the bank returned a cash profit of $6.496 billion in the year to September 2022, excluding the Covid lockdown recession of 2020.
• Mr Elliott suggested alternative solutions to maintain banking services in remote areas, such as smart ATMs that accept cash deposits and more limited banking hours for branches.

It's important to recognise that we contribute tobanks' wealth by pooling our hard-earned money into their coffers and investments.

Whether we are shareholders or regular customers, whether we engage in in-person or online banking, it is crucial to remember our choices as customers—like choosing to go to bank branches in-person, or simply transacting online—can have large-scale implications in the long run.

Do you believe customers bear responsibility for the closure ofbank branches like ANZ’s? Share your thoughts on the impact of digital transactions and online banking on the need for physical bank branches, and whether you think alternative solutions should be explored to maintain banking services in remote areas.

I am one of those who only go into a bank on a very, very rare occasion. Usually I go to get rid of loose accumulated change which goes into their counting machine (Bankwest). I can understand why they are closing them. I only go to ATM's to withdraw cash.

 

[Annna]

Bank customers have been FORCED to EMBRACE DIGITAL BANKING by staff who are BEING FORCED to lead customers to an ATM at the branch to complete their transaction when these customers have taken the time to drive to the branch.

I have seen this happening at Underwood QLD and at Tweed Heads NSW.

In fact, the staff conduct lead me to close my account.

That account closing was done in person at a branch and the ANZ system ensured that even the making of the appointment to close the account (yes I had to leave the branch on a day that I was there, go home and make an appointment for another day to close my account).

Suffice to say after all the upper management made obstacles, I succeeded in closing my account and am ANZ FREE at last.

 

[relljube]

What the ----? How dare this moron try to dictate how people choose to conduct their private banking business? Not only are all banks closing branches but are also withdrawing ATM facilities in a lot of places as these are supposedly too expensive to keep maintaining. They were the ones that pushed customers to on-line or ATM banking in the first place.
If there are still building societies and credit unions in existence, perhaps these are the answer to these greedy banks.
I was a bank employee for 25 years and in middle management but resigned in 1999 when their greed got the better of me. Have not crossed their front door in the 24 years since then. I am fortunate that I can access banking on-line and do all my business that way.

 

[KSS]

I think it is 6 of one and half a dozen of the other; both the banks and their customers are equally to blame.

First, the banks have ALL pushed their customers to electronic banking because they slowly but surely withdrew in-person transactions. Second, the customer then started having to use the faceless services for lack of any other option. Third the banks then say well no one uses the branches so we will close them. Lastly, the push from some quarters to withdraw currency/cash transactions has been in place for at least the last 5 years helped along by stupid conspiracy theories that COVID was spread on banknotes and the arrogance of the young who run up debts by click and go payments for every purchase no matter how small. So in a way yes the customer is to blame because we are not using the face-to-face in-branch services but we aren't using them because they have been withdrawn. Chicken or egg?

 

[KSS]

What the ----? How dare this moron try to dictate how people choose to conduct their private banking business? Not only are all banks closing branches but are also withdrawing ATM facilities in a lot of places as these are supposedly too expensive to keep maintaining. They were the ones that pushed customers to on-line or ATM banking in the first place.
If there are still building societies and credit unions in existence, perhaps these are the answer to these greedy banks.
I was a bank employee for 25 years and in middle management but resigned in 1999 when their greed got the better of me. Have not crossed their front door in the 24 years since then. I am fortunate that I can access banking on-line and do all my business that way.

You say " I am fortunate that I can access banking on-line and do all my business that way." and that is exactly what the ANZ CEO was saying. People have taken their business online so they close the unused branches.

 

[Pommyoz]

Time to change my bank. Goodbye ANZ.

Yes we did, and the service, the staff and the computer help was invaluable. Also they are a “green bank” meaning our money goes into saving acres of bush lands, planting trees and much more. Want to know who they are???

 

[Observer]

• ANZ's Chief Executive, Shayne Elliott, has blamed customers for bank branch closures, stating that most customers complete their transactions online. How very interesting because it is the Banks that have encouraged customers to use online banking. It is the banks that have closed branches in the smaller shopping centers to move them to the big ones as they did with the Woodvale 6026 ANZ bank branch. It is the GREED of these parasitical CEOs who have removed service staff at the counters. & then have people directing customers to the ATMs What these overpaid CEOs do not understand is that older people actually enjoy speaking & discussing their money matters with a person they do not want to feel threatened while collecting or depositing their money at an ATM they do not want to be forced to trust some machine I will say that the customers service people are in general extreamly good the branch managers are also good helpful people but those at the top could not lie straight on a narrow board or in bed.

If the banks could tell me where l could obtain cash from my online transaction, then l am all for it ;-)
Maybe it will dispense from under my keyboard

 

[Liz]

A bit like Coles shutting down manned checkouts, blamed it on the younger generation not wanting to waste time in a checkout line. Poor Seniors obviously had no say in it, and we are probably the ones who spend more money in the supermarket. It happened in one Coles near me, I am sure it will follow suit in other Coles. Not happy.

 

[KSS]

Yes we did, and the service, the staff and the computer help was invaluable. Also they are a “green bank” meaning our money goes into saving acres of bush lands, planting trees and much more. Want to know who they are???

I like Rabo Bank too because they support farmers. I like to think my deposits go towards lending to farmers .

 

[Observer]

Time to change my bank. Goodbye ANZ.

Other banks will do the same

 

[KSS]

A bit like Coles shutting down manned checkouts, blamed it on the younger generation not wanting to waste time in a checkout line. Poor Seniors obviously had no say in it, and we are probably the ones who spend more money in the supermarket. It happened in one Coles near me, I am sure it will follow suit in other Coles. Not happy.

Not just Coles, Woolworth already doing the same and you can bet the others are not far behind. In fact, Woolworth are already trialling checkout-free stores. As you go round the store you scan the product with your phone and when you leave you are automatically billed through your banking app. Now that really is a concern for me.

 

[Thecheesequeen]

All banks squeeze you into digital use. ATM and EFTPOS use then incurs a fee. To withdraw or deposit over the counter is an even bigger fee. Just rude that they then close branches. All pushing us to CBDC.

Bendigo bank doesn’t charge fees for deposits or withdrawals over the counter. I’m stunned to hear that some other banks do!

 

[gordon1940]

Not just Coles, Woolworth already doing the same and you can bet the others are not far behind. In fact, Woolworth are already trialling checkout-free stores. As you go round the store you scan the product with your phone and when you leave you are automatically billed through your banking app. Now that really is a concern for me.

Hmm. Have to be well controlled by the Store. Scan the cheaper and similar item and take the more expensive one?