ANZ customers to endure a long commute due to local branch closure
- Replies 34
In a move that has left locals reeling, the ANZ bank has decided to shut down its Katoomba branch in the Blue Mountains, west of Sydney, New South Wales.
The closure, which comes in the wake of ANZ's staggering $7 billion profit last year, has been met with widespread outrage, particularly from elderly and mobility-impaired residents who relied on the branch to manage their finances.
Katoomba, a picturesque town that attracts tourists from around the world, is home to a significant number of seniors who have chosen to spend their golden years amidst its serene beauty.
The ANZ branch was a lifeline for many of these residents, who now face the prospect of a 90-minute journey to the nearest branch.
Kim Grace, a local resident, has been a vocal critic of ANZ's decision.
Grace, who has launched an online petition, said, ‘This is not just an inconvenience; it’s an outrageous disregard for customers from a bank that reaps significant profits.’
She further added: ‘The proposed closure of this branch—the only one between Penrith and Bathurst—shows a lack of care or concern for customers, especially those who are elderly, without transport, or on lower incomes.’
After the bank announced its closure, there was an outcry from many who believed the move disregarded Australians in remote communities.
The backlash against ANZ's decision is not an isolated incident.
Across Australia, there has been a growing trend of bank branches shutting down, particularly in rural and remote communities. This has left many residents, who rely on these branches for their banking needs, in a precarious position.
The push towards digital banking, while convenient for some, has its drawbacks.
For instance, not everyone has access to reliable internet, and for seniors, who may not be as tech-savvy, digital banking can be a daunting and confusing experience.
Moreover, digital transactions lack the privacy, reliability, and inclusiveness of cash.
Jason Bryce, who initiated a separate petition that has attracted over 170,000 signatures, is advocating for guaranteed access to banking services and cash.
Bryce, in his petition, highlighted the fact that Australia's big banks, including ANZ, sit at the heart of the financial system and have a responsibility to provide Australians with access to cash in every town and suburb.
‘The banks benefit from every Australian having a bank account. Very few adults get paid in cash. Everyone needs a bank account to operate in Australia,’ he said.
‘So banks have a responsibility to provide us with access to cash in every town and suburb in Australia. If the banks won’t act to protect our access to cash, the government must step in,’ he added.
Bryce also pointed to New Zealand's approach as a model that Australia could emulate.
New Zealand, in a bid to support daily cash transactions, has established ‘cash hubs’ in rural towns. These hubs, which are a partnership between the government and the banking sector, provide residents with access to cash and other banking services.
‘It feels like banks are always steering us toward digital transactions. Only cash is private, reliable and surcharge-free. Only cash is inclusive and makes budgeting easy,’ Byrce added.
The closure of the ANZ branch in Katoomba is a wake-up call. It underscores the need for a comprehensive and inclusive approach to banking that caters to the needs of all Australians, particularly seniors and those living in rural and remote communities.
In the meantime, seniors in Katoomba are left to grapple with the reality of a 90-minute journey to access their bank. For many of these residents, the closure of the ANZ branch is not just an inconvenience; it is a stark reminder of the challenges that lie ahead in a rapidly changing world.
What are your thoughts on the closure of local bank branches? Have you or someone you know been affected by similar closures? Share your experiences in the comments below!
The closure, which comes in the wake of ANZ's staggering $7 billion profit last year, has been met with widespread outrage, particularly from elderly and mobility-impaired residents who relied on the branch to manage their finances.
Katoomba, a picturesque town that attracts tourists from around the world, is home to a significant number of seniors who have chosen to spend their golden years amidst its serene beauty.
The ANZ branch was a lifeline for many of these residents, who now face the prospect of a 90-minute journey to the nearest branch.
ANZ decided to close a branch in Katoomba. Image source: Shutterstock
Kim Grace, a local resident, has been a vocal critic of ANZ's decision.
Grace, who has launched an online petition, said, ‘This is not just an inconvenience; it’s an outrageous disregard for customers from a bank that reaps significant profits.’
She further added: ‘The proposed closure of this branch—the only one between Penrith and Bathurst—shows a lack of care or concern for customers, especially those who are elderly, without transport, or on lower incomes.’
After the bank announced its closure, there was an outcry from many who believed the move disregarded Australians in remote communities.
The backlash against ANZ's decision is not an isolated incident.
Across Australia, there has been a growing trend of bank branches shutting down, particularly in rural and remote communities. This has left many residents, who rely on these branches for their banking needs, in a precarious position.
The push towards digital banking, while convenient for some, has its drawbacks.
For instance, not everyone has access to reliable internet, and for seniors, who may not be as tech-savvy, digital banking can be a daunting and confusing experience.
Moreover, digital transactions lack the privacy, reliability, and inclusiveness of cash.
Jason Bryce, who initiated a separate petition that has attracted over 170,000 signatures, is advocating for guaranteed access to banking services and cash.
Bryce, in his petition, highlighted the fact that Australia's big banks, including ANZ, sit at the heart of the financial system and have a responsibility to provide Australians with access to cash in every town and suburb.
‘The banks benefit from every Australian having a bank account. Very few adults get paid in cash. Everyone needs a bank account to operate in Australia,’ he said.
‘So banks have a responsibility to provide us with access to cash in every town and suburb in Australia. If the banks won’t act to protect our access to cash, the government must step in,’ he added.
Bryce also pointed to New Zealand's approach as a model that Australia could emulate.
New Zealand, in a bid to support daily cash transactions, has established ‘cash hubs’ in rural towns. These hubs, which are a partnership between the government and the banking sector, provide residents with access to cash and other banking services.
‘It feels like banks are always steering us toward digital transactions. Only cash is private, reliable and surcharge-free. Only cash is inclusive and makes budgeting easy,’ Byrce added.
The closure of the ANZ branch in Katoomba is a wake-up call. It underscores the need for a comprehensive and inclusive approach to banking that caters to the needs of all Australians, particularly seniors and those living in rural and remote communities.
In the meantime, seniors in Katoomba are left to grapple with the reality of a 90-minute journey to access their bank. For many of these residents, the closure of the ANZ branch is not just an inconvenience; it is a stark reminder of the challenges that lie ahead in a rapidly changing world.
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