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Bankwest to shut branches in Perth and outback WA as demand for cash services drops in move to go digital

Bankwest to shut branches in Perth and outback WA as demand for cash services drops in move to go digital

Major Australian bank Bankwest has announced it will be closing more branches in response to changing customer needs as use of digital banking services grows.

The bank, which serves over a million customers across Australia, will be closing two branches — in Maddington in Perth’s southeast and Kununurra near the WA-NT border.

The bank previously shut another WA branch in the Perth suburb of Armadale, which closed its doors on January 18.

The Madddington branch will close as of February 29, due to a “surge in digital transactions and the rapid decline of demand for cash services”.

Meanwhile, Kununurra will officially close on April 18, due to the “inability to resource the location”.

“Bankwest customers who prefer in-person banking can access Bank@Post services in Australia Post offices in local communities across the country, including Maddington Central Shopping Centre, less than 50m from the current branch,” general manager of Personal Banking at Bankwest Scott Spittles said.

Spittles added Bankwest was experiencing a “significant decline” in demand for cash services.

“Digital transactions now account for 97 per cent of all Bankwest transactions, while over-the-counter transactions at Bankwest branches have declined by 44 per cent in the past three years,” he said.

Bankwest branches now average fewer than 30 over-the-counter cash transactions per branch, per day.

“As customer needs continue to evolve, Bankwest expects to operate fewer branches in the future, with colleagues increasingly supporting customers in channels they prefer to use,” Spittles said.

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