Another local Bank of Melbourne branch will be closing its doors before the end of year, blaming a decrease in in-branch cash transactions.
The Westfield branch on Yarra Street will shut on Christmas Eve, with customers told to use the Westpac branch on Mooroabool Street instead.
It comes following the closure of the bank’s Waurn Ponds branch early last year, with the Bank of Melbourne saying decisions to close branches are never made lightly
“A number of factors are taken into consideration,” a statement from the organisation said.
“For Geelong Westfield, there has been significant decrease in in-branch cash transactions as our customers move to more accessible personal and business banking options.
“Cash transactions can be completed at the nearby Westpac Geelong Branch located 550m away.”
The closure comes despite a rise in branch visits in Geelong in the past three years, with 2023’s monthly average of 1256 personal banking visits almost equal to the 2019 monthly average.
The bank closes its Chadstone Shopping Centre branch this Friday, while a branch at Fountain Gate is also closing its doors on Christmas Eve.
