Major bank branch closures loom as online surges

by NZ Adviser12 Aug 2016
Westpac Bank may be closing up to 19 of its branches across New Zealand as it confirmed yesterday it is consulting with staff, according to the NZ Herald. 

According to the bank, the proposed move comes as online transactions continue to gain popularity. 

"Currently more than 85 per cent of service transactions with us take place outside of a branch," the bank stated. 

First Union said the move could put up to 100 jobs on the line, but some may be redeployed.

The bank is set to decide on the proposal once it has evaluated feedback from its staff. 

"Staff and customers will be the first to know that decision and there will be no further public comment until then," the statement said.

The NZ Herald reported that according to First Union the branches that could potentially be closed were: Kamo, Whangarei; Broadway Avenue, Palmerston North; Bishopdale, Christchurch; Gardens, Dunedin; Waikanae; Carterton; Raglan; Ranfurly; Te Aroha; Fendalton Mall, Christchurch; Putaruru; Whangamata; Takaka; Stoke; Wainuiomata; Te Anau; Fairlie; Otorohanga; Cherrywood, Tauranga.

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