Customers concerned as Bendigo Bank looks to close agencies in Victoria

In Bendigo, the bank will close its customer service point at the Golden Square Newsagency.

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Bill Collier, 85, said he was disappointed to hear about the closure.

"At Golden Square you've got the paper shop, right next door is a chemist and a post office, so it's a central area and it's well used," he said.

"I can't understand [the bank], especially when they're saying how well they're looking after people."

Agencies are located within newsagents, chemists, real estate offices and other popular facilities. They are staffed by employees of those businesses, not Bendigo Bank employees.

In March, a representative of Bendigo Bank told The Advertiser the decision to review its agency service came as "the number and value of over-the-counter transactions has fallen and more customers choose to do their banking online".

The representative said the bank's Bank@Post service, located within the Golden Square post office, would still operate.

Bank@Post, which required card access, allowed customers to make cash deposits and withdrawals, cheque deposits, and account balance enquiries.

Mr Collier said he had never heard of Bank@Post.

"That's not the answer at all... the problem is the Bendigo Bank is ignoring the community and they're saying that they've been looking after the community," he said.

"They've ignored the older generation... I still like to go and get cash and still like to deal with it and talk to the bank people down there at the agency."

Bendigo resident and Council on the Ageing volunteer Ruth Hosking said many older residents were concerned about the future of face-to-face banking.

"It's a service to we older people, but we wish to maintain [it]," she said.

"It's wrong for the banks to assume that the post office is going to take on their role. Banking has specialists, a desk and security and all those sorts of things that a post office doesn't necessarily have."

Older people were wary of online banking, with fears of hacking and complications around usage, Ms Hosking said.

She said was worried people would have to learn a new way of banking.

"The digital age has moved forward quicker than we older people can, and there are more of us now, it's just not a few people," she said.

"The Bendigo Bank started here in Bendigo and it's very special, and therefore it should provide a very special service to to everyone, but particularly older people who can't go back to learning new ways."

The closures sparked concern north of Bendigo, with Loddon Shire mayor Dan Straub expressing his disappointment at the closure of Pyramid Hill's agency in a mayoral column.

"I am disappointed to learn of the unexpected decision of the Bendigo Bank to close its Pyramid Hill agency from July," he said.

"Local bank agencies play a crucial role in our community by providing financial services to our residents and businesses.

"Residents will have to travel further to access banking facilities which will have additional financial burdens and inconveniences."

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Potential closures in Cohuna and Barham were also met with disappointed and furor among residents, with more than 250 people protesting the decision last week.

The closures could affect how local governments invest in financial institutions.

At Mount Alexander Shire's council meeting on Tuesday, April 18, councillors would vote to adopt a new cash management policy.

The policy includes a Local Content item, which was "added to provide preference to investing in financial institutions that maintain a physical presence in the shire through a branch of their operations".

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