- ANZ has defended a decision to close a local branch
- Locals called the call a ‘slap in the face’
ANZ has been accused of breaking its promise not to close any regional offices after the company announced one of its facilities would close within weeks.
The bank announced it would close its branch in Katoomba, in the Blue Mountains region of New South Wales, next month, in what locals called a “bloody disgrace”.
The bank pledged in June not to close any regional branches for three years in exchange for Federal Finance Minister Jim Chalmers approving its takeover of Suncorp Bank.
However, they are set to close their Katoomba branch next month, despite the public’s belief that the town is indeed regional.
Following the closure, residents of Katoomba will have to travel 46km to reach the nearest branch in Penrith, in Sydney’s west. The journey time will be approximately 70 minutes.
ANZ defended the decision, saying the closure did not breach its obligations because Katoomba “is classified as a large urban location by the Australian Bureau of Statistics’ Australian Statistical Geography Standard”.
Locals are furious, claiming the bank has looked for a “loophole” to deprive them of their branch from October 23.
In local Facebook groups, outraged residents argued: ‘We are regional.’
Katoomba residents ‘shocked’ by major bank’s decision to close its only local branch
The branch will be closed permanently on October 23 at 1.30pm as ANZ defends their position
“The attitude of banks towards their customers these days is appalling,” one woman wrote.
‘Customer service is declining everywhere’.
A local business owner said she closed her accounts because she could not deposit her business income due to the lack of a physical bank branch.
“I own a small business and even though I have a ‘square,’ most customers prefer to pay in cash,” she said.
‘I had no choice but to close my ANZ accounts after banking there for decades. I need to be able to deposit my cash income.’
Local Kim Grace told Yeah The closure plans were a “slap in the face” for the community, which, like many non-metropolitan areas, has a large number of older Australians.
“I just think that’s really rude, you know?” he said.
‘Banks used to be community-based, everyone knew the bank manager and the bank manager knew everyone. Now it’s just for the shareholders.’
ANZ cited the 2021 ABS map which showed Katoomba falling just short of the ‘major city’ designation
ANZ defended the decision and confirmed it would continue with the closure, citing falling transactions at the branches.
‘Transactions in our branches nationwide have halved over the past five years. Today, only one percent of all transactions are made over the counter and almost four million customers use our mobile banking app,’ a spokesperson said.
‘We work with our customers in Katoomba to ensure they are well supported and informed about all the ways they can access their banking, including using nearby branches, local ATMs, telephone banking or our team of community bankers, such as mobile lenders.’