Aged worry on shut banks

ELDERLY residents continue to be affected by mounting bank closures, amid fears two Bendigo Bank branches that are now shut will not reopen.

Council on the Ageing (COTA), an advocacy body representing people over 50, has called on the bank to reconsider closing branches.

It comes after five branches – two ANZ, a Westpac, Commonwealth Bank and Bendigo Bank outlet – were closed last year.

Bendigo Bank’s Newcomb and Belmont branches have been closed for several months and the bank said it could not give a timeline to reopen.

A spokesman said customers could use alternative banks within 5km of the Newcomb and Belmont branches.

COTA chief executive Tina Hogarth-Clarke urged Bendigo Bank not to permanently close the branches.

“Many older people either don’t have access to the internet or if they do are not comfortable using it to do online banking,” she said.

“With the increase in scams both via email, mobile phone SMS and phone calls, older people more than any other age group do not feel safe conducting their banking online.

“Having access to a branch means they can continue to do their banking in a safe way in a way that they can control and doesn’t increase their risk of being vulnerable to elder abuse,” Ms Hogarth-Clarke said. Physical branches also provided a point of social connection for older citizens, which could in turn help protect them from elder abuse, Ms Hogarth-Clarke said.

She said there needed to be open communication between the bank and its customers.

“I strongly encourage Bendigo Bank to reconsider closing branches, especially in the regional areas, considering it will disadvantage older Victorians the most,” she said.

“Or at the very least, consult their customers before making a decision to understand the direct impacts this will have on them.”

A Bendigo Bank spokesman said the bank could not provide a timeframe for branches to reopen due to staffing issues.

“Like many companies, Bendigo and Adelaide Bank has experienced some challenges with staffing leading the bank to temporarily close the Belmont and Newcomb branches,” the spokesman said.

“High rates of absenteeism and difficulty in attracting new staff to customer-facing roles has caused significant disruption and uncertainty.”

He said the bank was committed to the region, with “twice as many” branches in the area than any other bank, and state-of-the-art branches in Torquay and Drysdale.