By Matthew Sims
Travelling to Berwick or banking via the Bank@Post service will be options National Australia Bank (NAB) customers in the Emerald area may have to consider with NAB deciding to close the Emerald branch from next March.
NAB has scheduled to close the doors at the branch at 342–344 Belgrave-Gembrook Road on Thursday 7 March.
According to NAB, about 57 per cent of the branch’s customers only visited the branch once over the past year, with more than 70 per cent of customers also using other locations, including the recently refurbished branch in Knox.
According to NAB, there were 407 regular personal banking customers who visited the Emerald branch more than three times, while 75 personal banking customers visited more than 12 times.
In terms of personal banking transactions, the numbers of cash withdrawals fell by 28.95 per cent between 2020 and 2022, dropping from 3316 in 2020 to 2356 in 2022.
The number of cash and cheque deposits fell by 34.57 per cent and 33.47 per cent respectively.
NAB retail customer executive Karen Ford said the “difficult” decision to close the branch was made following analysis into the number of customers using the branch and an increase in the use of digital banking in the area.
“We made the difficult decision to close the NAB branch in Emerald because fewer customers are using it for their banking,” she said.
“Just as they’re using online government services to complete their tax or a Medicare claim, locals in Emerald are increasingly choosing to bank digitally because it’s more convenient.
“Today, more than 93 per cent of transactions in Australia are taking place online, and this is increasing.”
Ms Ford said customers could continue to do their day-to-day banking through the Bank@Post service.
“Bank@Post is a significant investment for NAB which brings the convenience of banking services to more than 3400 locations nationally in partnership with Australia Post,” she said.
“There are no job losses as part of this change and our branch team have been offered other roles across the bank.”
The announcement attracted a string of comments from disappointed NAB customers on Facebook.
Alexandra resident Peter Rice said the closure of the Alexandra branch had led to a number of negative impacts for the area.
“It has caused massive difficulties for many and impacted the local economy significantly,” he said.
“The Federal Government should not be allowing this.”
Hamish Gwinganna said the decision to close would be “tragic for the town”.
“There are many elderly people in Emerald including my mum who has banked with NAB her entire life,” he said.
“I can’t teach her internet banking or how to use an ATM.
“Shame on them for once again charging more , making more and giving less.”
Monbulk resident Kevin Jones said the Emerald closure, following shortly after the recent closure of the Monbulk branch, had made him consider leaving the bank.
“We already had our branch close in Monbulk, which they had boastfully branded as an Agribusiness Centre, given the business nature of the region,” he said.
“That counted for nothing.
“Now Emerald is following suit and it certainly makes you feel like swapping to Bendigo Bank, because they are cleverly filling the hole left by the big banks, which are already making obscene profits, yet closing down outlet after outlet.”
NAB customers are able to phone 13 22 65 to transfer funds, pay bills using BPAY, check account balances, managing loans, applying for new accounts, ordering statements, managing term deposits and talking to a home lender.
For more information about support NAB can provide, visit nab.com.au/customersupport
