The Commonwealth Bank has followed through on its promise to turn its subsidiary Bankwest a digital-only service, closing all 60 branches by October.
The announcement on Wednesday afternoon confirmed 28 metro and 17 regional branches across WA would shut, while 15 branches would be converted and re-badged to CommBank. About 350 Bankwest staff will be affected.
“Their justification for this is 97 per cent of their customers never set foot in a branch,” Carbon Group’s money expert Michelle Maynard told Clairsy & Lisa on Thursday, adding that “on average, there’s about 30 transactions per day in a city branch and about 15 in a rural [branch].”
The concern is over those who rely heavily on doing their banking in an actual bank, particularly the elderly.
So what happens now? Michelle went through what options Bankwest customers have now…
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