The Australian landscape is changing, and not just the natural one. Our financial infrastructure is undergoing a significant transformation, with the convenience of cash access being a notable casualty.

Since 2019, more than half of Australia's ATMs and one-third of bank branches have closed, leaving many Australians, particularly seniors and those in rural areas, facing new challenges in managing their finances.

The disappearance of over 200 bank branches last year is a stark reminder of the shift towards digital banking.


This trend is not just a metropolitan phenomenon; the Canstar analysis reveals that 230 branches closed in the 2024 financial year, impacting communities far beyond the city limits.

For those living in remote areas, closing a local branch or ATM can mean hours of travel to perform basic banking tasks.


Sally Tindall, Canstar's data director, highlighted the disparity between closures in populated areas with alternatives and those in the outback, where the impact is far more profound.

‘That said, if you ask anyone who was relying on those 52 branches to do their day-to-day banking, they won’t exactly be chalking this up as a win,’

‘Cash might not rule the roost any more, but there’s still plenty of Australians that rely on it as a way to pay for things,’


The convenience of digital payments is on the rise, but this shift comes with problems.

For instance, when the Westpac app and online banking services crashed, customers were left in the lurch for days, unable to access their accounts.

Moving away from physical banking facilities poses a challenge for the less tech-savvy and for businesses in regional and rural areas that still rely on cash transactions.

Recognising this, Commonwealth Bank, Westpac, and ANZ have committed to maintaining their regional branches until at least the end of 2026.

Despite this commitment, the numbers are telling: 52 regional branches closed last year, following a year when 112 branches were shuttered.

While the rate of closures may have slowed, the loss is deeply felt by those dependent on these services.


Cash may no longer be king, but it remains a crucial part of daily life for many Australians.

Fortunately, the Bank@Post service, offered at 3,428 locations, provides a lifeline.

It allows Commonwealth Bank, NAB, and Westpac customers to conduct banking at their local post office.

This service has been particularly resilient in remote areas, with no closures last financial year and even an opening in one remote location.

The state-by-state breakdown reveals that Western Australia experienced the most significant percentage loss of bank branches, while New South Wales saw the highest number of branches close.

On the ATM front, the Northern Territory has fared better than other regions, with a slower rate of loss and even a small increase in machines last year.


Despite the $107 billion withdrawn from ATMs in the last 12 months, as reported by the RBA, the trend towards digital banking is undeniable.

As we navigate this transition, banks, government, and regulators must work together to ensure all Australians can access the financial services they need.

Have you been affected by the closure of your local bank branch or ATM? How have you adapted to these changes? Share your experiences and tips with fellow readers in the comments below.