{"id":161896,"date":"2016-10-30T14:43:40","date_gmt":"2016-10-30T04:43:40","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=161896"},"modified":"2020-10-02T10:02:53","modified_gmt":"2020-10-02T00:02:53","slug":"ank-to-close-two-branches","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/10\/30\/ank-to-close-two-branches\/","title":{"rendered":"Bank To Close Two Mini-Branches"},"content":{"rendered":"
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Member for Maranoa
David Littleproud<\/figcaption><\/figure>\n

October 30, 2016<\/strong><\/p>\n

Heritage Bank has confirmed rumours it will close its mini-branches in Wondai and Murgon by the end of November.<\/p>\n

Concerns about the possible closures were raised by Member for Maranoa David Littleproud earlier this month after Suncorp Bank announced it would close its Kingaroy branch on January 20.<\/p>\n

The rapid shift of customers to electronic banking had forced Heritage Bank into the decision to close most of its mini-branch agencies, Heritage Bank CEO Peter Lock said.<\/p>\n

Heritage currently operates 29 agencies, but intends to close all but three.<\/p>\n

Mini branches are agencies co-located inside other stores that allow bank customers to carry out a limited range of transactions, such as cash withdrawals and viewing account balances.<\/p>\n

Mr Lock said the agency concept had been introduced in the 1970s at a time when people were still paid by cash or cheque and had no option but to go to a counter to carry out transactions.<\/p>\n

He said the rapid rise of online technologies, plus the widespread availability of other banking channels, EFTPOS, ATMs, and the Bank@Post service which allows customers to withdraw cash, deposit cash and cheques, and check their account balance at any of Australia Post’s 3300 outlets meant the cash-based agency concept had come to the end of its lifespan.<\/p>\n

Mr Lock said the bank had agonised over the decision, but were eventually forced to take it.<\/p>\n

“Transactions at our agency network have dropped significantly in the last four years, and that decrease is accelerating rapidly,” Mr Lock said.<\/p>\n

The bank will continue to provide customers with the same standard of banking services through its full branches in Kingaroy and Nanango.<\/p>\n