A blog on issues affecting Australia's newsagents, media and small business generally.

Banks really don’t want over the counter business

I went to the bank at 11am Monday for an over the counter transaction onto to discover that they were closed Monday and Tuesday. I went at 11am because they had started closing at 1pm. Now, it seems, closing Mondays and Tuesdays is a thing.

The only reason I go to this brand is because our local branch closed as did the next branch we went to.

Anyway, I got there yesterday, waited in line for 30 minutes only to be told that type of transaction needs to be done in the city. It’s not a complex transaction, but it does require a branch authorisation,  which they, apparently, can no longer do.

At one of my shops, we deposit cash every few days using the cash deposit ATM – when the machine is working. Currently, because we have been keeping records – the ATM has a downtime of more than 50%. When we approach people in they branch they say it’s nothing to do with us.

These are my recent local branch banking experiences. I have heard of worse from plenty of others in local small business retail.

The local bank branch network in Australia was unique, a point of difference for our country. I think it’s now lost forever.

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  1. Bruce H

    Yes, the banking network is rapidly shrinking. Our local bank closed 4 years ago and now, post COVID, the next nearest suburban branch is also closing next month. This means more time and effort away from the business to do banking at a regional location, which is a pain to get to. However, the people I feel most sorry for are elderly locals who have relied on suburban banks for decades – they are too old to use internet and/or machines and just want good old fashioned customer service!!
    The branches get fewer, but the profits and the bonuses never do!!

    3 likes

  2. andy

    Hi Mark
    I sent one of our staff to get change last week but the bank could not give them $200 in $10 notes as there counting machine was not working and they said to come back later
    This type of thing is happening more and more

    3 likes

  3. Jonathan Wilson

    My experience has been that smaller banks tend to be better at customer service than the big 4.

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