Bankwest’s Geraldton branch one of 45 to be permanently closed as part of move to digital-only services

Geraldton’s Bankwest branch — a feature in town for almost eight decades — will be shutting up shop by October as part of the bank’s mass closure of its branch network. The 129-year-old bank announced on Wednesday afternoon it would be permanently closing 45 branches, with 15 more to be converted to Commonwealth Bank branches, enabling it to transform into a “digital bank”. The bank defended its decision, saying 97 per cent of its transactions were completed digitally and WA branches on average dealt with about 30 over-the-counter transactions a day. According to Bankwest, the Geraldton branch had an average of 22 customers per day. Bankwest executive general manager Jason Chan conceded the transition would be challenging for some customers but said they would be supported through the process. “It’s critical we prioritise investment for the majority of our customers who expect leading digital and broker banking services and rarely use branches, but we have a clear focus on the needs of our regular branch users at this time,” he said. The move will impact 350 jobs, but Bankwest said it would help staff transition to the digital age through “dedicated reskilling programs”. Nine people work at Geraldton’s Bankwest branch, which is believed to have opened around 1946. Bankwest’s Jurien Bay branch, with an average of seven daily customers, will be one of 15 to be converted to a CBA branch. Other regional cities and town where Bankwest branches are permanently closing include Bunbury, Busselton, Albany, Kalgoorlie, Broome, Karratha and Port Hedland. All Bankwest branches were closed between 2pm and 4pm on Wednesday while the news was broken to staff and the public. WA Opposition Leader Shane Love said he had been told regional communities would be kept front of mind but he needed to wait and see if promises were followed through. “I have had assurances from Bankwest that communities which are currently serviced by their business will be given the opportunity to transition to CBA customers with direct support from their team,” he said. Financial Counselling Australia financial capability co-ordinator Lynda Edwards urged Bankwest to rethink its decision because it would adversely affect vulnerable customers, including First Nations people, the elderly and people who did not speak English and often relied on face-to-face banking. “Going fully digital may put some people at risk of financial harm and create a digital divide, with some customers potentially excluded from accessing financial services,” she said. “It’s unfair and simply not on.” A Senate committee has been holding an inquiry into regional bank closures in Australia since February last year. It is expected to hand down its report in May.