- ANZ has defended the decision to close a local branch
- Locals called the call a “kick in the stomach”
ANZ has been accused of breaking its promise not to close any regional branches after announcing that one of its facilities would close within weeks.
The bank has revealed it will close its Katoomba branch in the Blue Mountains region of New South Wales next month, with angry locals calling it a “bloody disgrace”.
The bank promised in June not to close any regional branches for three years in exchange for federal treasurer Jim Chalmers approving its takeover of Suncorp Bank.
However, they will close their Katoomba branch next month, despite the public believing the town is actually regional.
Following the closure, Katoomba residents will have to travel 46km to reach the nearest branch in Penrith, west of Sydney, a journey time of around 70 minutes.
ANZ defended the decision, saying the closure does not breach its commitment because Katoomba is “classified by the Australian Bureau of Statistics’ Australian Statistical Geography Standard as a major city”.
Residents are outraged and claim that the bank has sought a ‘legal loophole’ to remove them from their branch as of October 23.
On local Facebook groups, dismayed residents argued indignantly: “We are regional.”
Katoomba residents are ‘horrified’ by the big bank’s decision to close its only local branch
The branch will be closed permanently on 23 October at 13:30, while ANZ defends its position.
“The attitude of banks towards customers is appalling these days,” wrote one woman.
“Customer service is getting worse everywhere.”
One local business owner said she had closed her accounts because the lack of a physical bank branch meant she could not deposit her business profits.
“I’m a small business owner and even though I have a ‘square,’ most of my customers still like to pay in cash,” she said.
“I have had no choice but to close my accounts with ANZ after trading with them for decades, because I need to be able to deposit my profits in cash.”
Local Kim Grace said Yahoo The lockdown plans were a “kick in the stomach” for the community which, like many non-metropolitan areas, has a large number of older Australians.
“I just thought that was really rude, you know?” she 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 showing Katoomba just falls within the “major city” designation
ANZ defended the decision and confirmed it would proceed with the closure, citing a decline in branch transactions.
“Transactions at our branches nationwide have been cut in half over the past five years. Today, just 1% of all transactions are done over the counter and nearly four million customers use our mobile banking app,” a spokesperson said.
‘We are working with our Katoomba branch customers to ensure they are well supported and aware of all the ways they can bank, including using nearby branches, local ATMs, telephone banking or our team of community bankers, such as mobile lenders.’
