The Bank of Melbourne will close its Pakenham branch in August.
The bank announced the closure last week, citing customers preference for online banking and with “more branches now available” as reasons behind the decision.
But the bank – which is a subsidiary of Westpac – has assured customers their needs will be fulfilled when Pakenham will cease to have a branch from Friday 16 August.
A Westpac spokesperson said the decision comes from the many branches in operation and the changing landscape to online banking.
“With more branches now available and more customers choosing digital banking, we’ve made the decision to close Bank of Melbourne Pakenham,” they said.
“Westpac is investing in expanding access to cash services for all our customers. We’ve digitally connected our brands and branches, meaning Bank of Melbourne customers can now use any Westpac branch and vice-versa for cash and cheque deposits and cash withdrawals.
“This means Bank of Melbourne customers now have access to 110 branches in Victoria, and more than 500 Westpac Group branches nationally. We’ve also expanded access to fee-free cash via our ATM network. Personal and business transaction account customers can perform fee-free ATM withdrawals at more than 1700 ATMs in Victoria, including at Precinct and ATM machines.”
After the closure, the nearest branch will be located at Fountain Gate in Narre Warren, however Bank of Melbourne customers can seek Westpac Pakenham for face-to-face assistance.
Locals were divided on the issue with some understanding the move and others displeased.
“With Bank of Melbourne being owned by Westpac, it’s no surprise the branch has been closed as Westpac have closed so many branches. Let your fingers do the walking and take money out of Bank of Melbourne and Westpac and close your accounts,” local Shirrell said.
A local Bank of Melbourne customer Mandy added: “We have a business account and personal accounts with them. I’m very disappointed. It would appear that many banks are closing. BOM has closed multiple branches.”
Others did not oppose the closure.
“Why would you keep a branch open with less than 40 customers a day walking through the door, it’s not viable,” Vicki said.
Karen commented: “Given there is a Westpac branch in Main St that can be used for transactional needs I don’t think it’s that bad compared to a whole brand leaving the town.”
The spokesperson added that existing staff would be assisted in new employment with staff staying in the company in “most instances”.
“We have a robust process in place to assist employees to find new opportunities as we invest and grow our phone, digital and virtual offerings, and in most instances impacted employees will be given the opportunity to stay on with Westpac,” they said.
The spokesperson affirmed there would be multiple alternative banking options still available.
“The everyday banking needs of customers, such as over-the-counter cash transactions, identification and business express deposits, will be supported by Westpac Pakenham, which is 350m away,” the spokesperson said.
“Additionally, many customers can continue to access cash services locally via Bank@Post at Pakenham Post Shop. Alternatively, customers have the option to bank using our App, mobile banking, virtual banking or can call us on 132 266 to talk to one of our bankers.”
