By Taylah Eastwell
A number of bank branches in the Ranges have closed as a result of Covid-19, as more customers move to online banking.
The most recent local branch to close its doors is Mt Evelyn’s Commonwealth Bank branch, with CBA announcing on Friday 4 June the village branch would permanently shut its doors.
The local branch had been closed since May last year, with staff redeployed to call centres to assist with online banking during the extended lockdown.
Commonwealth Bank Australia Regional General Manager, David Castle said the Mt Evelyn branch had a “58 per cent drop in transactions over the five years before the pandemic”.
“We regularly review our branch locations across Australia to help us make informed decisions on where to open new branches, where to renovate or upgrade existing branches, and in some instances where to close branches,” he said.
“We recognise some senior customers prefer to do their banking face-to-face. We’ve ensured customers who prefer over-the-counter service still have access to this option. For Mount Evelyn customers, we have other branches in the region at Lilydale, Chirnside Park, Mooroolbark and Croydon.
Mr Castle said a recent review found that 43 per cent of Mt Evelyn CBA customers were already visiting other local branches before the village branch closed last May.
For those who prefer face-to-face banking options, the Mt Evelyn Post Office can be accessed for personal and business banking transactions including withdrawals, deposits and bill payments.
The news comes after CBA also closed a branch in the neighbouring suburb of Monbulk earlier this year, claiming the branch had a 55 per cent drop in transactions in the five years prior to the pandemic.
Mr Castle said all Monbulk CBA employees were placed into other roles within the company.
“Around 15 per cent of customers” from Monbulk were said to be already visiting Belgrave and Emerald branches prior to the Monbulk branch closing in May 2020.
Similarly, Monbulk customers can now engage in some face-to-face banking transactions at Monbulk Post Office.
CBA said it expects a gradual reduction in branch numbers and ATMs to continue over the rest of the year, with the coronavirus pandemic “accelerating” a continuing shift in banking behaviour to online and over the phone services.
The banking giant reports seeing twice as many customers over 60 years of age accessing online services than those that visited in-branch.
It appears Bank of Melbourne has similar ideas, with a Ferntree Gully branch also closing earlier this month.
The Mountain Gate branch closed its doors officially on 14 May after amalgamating with Bank of Melbourne at Knox City, five kilometres away.
A spokesperson from Westpac Group, which owns Bank of Melbourne, said the closure follows a “seismic shift towards digital and cash-less banking and a declining foot traffic in bank branches”.
“When we do close a branch, it is not a decision we take lightly. Branches will continue to remain an important service option for Bank of Melbourne, especially in areas that have high customer usage.
Ferntree Gully customers can bank at Knox or an Australia Post outlet, said to be 200m from the closed branch.
“Customers can deposit cash, cheques, withdraw cash and check account balances etc. free of charge,” the spokesperson said.
Westpac Group is expected to shut 48 branches across the country, while an unofficial list of expected CBA closures currently sits at 62.
