CANBERRA, AAP – Everything old is new again as bricks and mortar branches re-enter the “multi-channel experience” that used to be known as banking.
Heritage Bank opened a branch at Tweed Heads on the NSW-Queensland border on Monday as larger rivals continue to close hundreds of smaller outlets.
Chief executive Peter Lock said branches provide customers with the personal connection they’re craving.
“We know many people appreciate the convenience of digital banking channels,” he said.
“It’s not one or the other – branches are still very important as part of the multi-channel experience that customers demand these days.”
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NSW MP for Tweed Geoff Provest cut the ribbon to officially open the new branch.
“While some banks are closing branches or moving to online service only, Heritage is setting up shop in Tweed City to provide face-to-face customer service and advice,” he said.
“This is a vote of confidence in Tweed and we welcome Heritage to this area and to our community.”
It’s the second new branch Heritage has launched in the past two months, after also opening the doors to a new outlet at Macquarie Park in Sydney.
The larger banks increasingly rely on Australia Post to offer local banking services, to supplement digital platforms.
Since January 2020, the big four banks have closed or plan to close 350 branches, according to recent evidence at a federal parliamentary inquiry.
Figures from the prudential regulator show more than 100 regional and rural banking branches have closed in the past year.
