ANZ to withdraw from Moe

ANZ has confirmed it will be shutting its Moe branch in April next year. image supplied

Michelle Slater

The Latrobe Valley is copping another banking blow with a further big four banker withdrawing from Moe next year.

ANZ has confirmed it will be closing its Moe branch as from April 2023.

ANZ district manager Minh Vuong said 80 per cent of Moe customers were using online and mobile banking methods.

Mr Vuong said in-branch transactions had slumped by half in the past four years.

“We have personally written to our Moe customers to help them with alternate banking options and our relationship bankers continue to visit many of our business customers at their locations and are also available on the phone and online,” Mr Vuong said.

“Customers can visit our Traralgon branch for their face-face banking needs and they can also use the atmx network at no charge and ATMs operated by the other major banks, fee-free.”

Mr Vuong also suggested customers could access cash from major supermarkets’ EFTPOS systems.

However, the Finance Sector Union has slammed the decision, stating branch closures had a “devastating” impact on small towns and regional centres.

FSU national secretary Julia Angrisano said it also unfairly impacted those forced to travel further to do their banking over the counter.

“Residents in regional areas could decide top close accounts when a particular bank leaves and move to one that continues to have a local presence,” Ms Angrisano said.

“However we know from bitter experience that when one bank closes other often follow, sometimes leaving towns without any local banking services.”

Ms Angrisano said banks should be required to provide a minimum level of service to customers and “stop cannibalising their local branch network”.

She said the union was also calling on the federal government to inquire into the provision of local banking services, particularly in regional areas.

“Don’t believe the banks when they claim customers prefer banking online,” Ms Angrisano said.

“Our members tell us that the numbers of over the counter transactions in a branch often have limits placed upon them and once that limit is reached, customers are taken to a computer inside the branch or to an ATM and shown how to do their banking online.”