Wagin’s NAB branch set to close by end of the month

National Australia Bank will close its Wagin branch at the end of this month in a move criticised as “out of step” with community expectations by State Opposition Leader Mia Davies. The NAB branch is set to close on July 30, leaving Bankwest as the only bank with a branch in the town of about 1500 people. The closure is part of a trend emerging across the sector and affecting many regional towns. Almost 300 branches have closed across Australia in the aftermath of the COVID-19 pandemic, with customers switching to online banking. Shire of Wagin chief executive Bill Atkinson said the impending closure was “disappointing” and based on commercial reasons. “It’s always disappointing when the bank closes. We’re fortunate to still have a resident bank with Bankwest,” he said. “It’s a commercial decision by the bank — it seems they have a business model they’re adhering to. “The main cohort that will be affected will be some of the older generation who still like to have face-to-face banking, so that’s where the challenge will be.” While some see the move to online banking and away from face-to-face interactions as inevitable, Mr Atkinson said the NAB closure might help shore up the town’s Bankwest branch. “One would think that the Bankwest branch would probably be strengthened through increased clientele,” he said. The Wagin closure will coincide with NAB branches shutting down in Kondinin, Three Springs and Wyalkatchem in late July and early August. Despite the physical branches closing, NAB State business banking executive Jeff Pontifex said NAB’s team would continue to visit customers on-farm or at their businesses. “Across Australia we have more than 2000 bankers out on the road. And last year, despite COVID-19, they covered more than 15.5 million kilometres to support our customers,” he said. Rather than worry customers, Mr Pontifex said NAB’s partnership with Australia Post would help provide added certainty for them. “Our local teams have been speaking with customers about the ways they will be able to continue their banking locally,” he said. “This includes depositing and withdrawing cash at the local Australia Post outlet in each of these communities, as well as face-to-face, phone or video appointments with one of our home lending specialists or business bankers. “This will deliver additional services to small business customers and provide certainty for our regional and rural customers, with more locations to service their banking needs.” Ms Davies said the NAB closures added “insult to injury” for regional West Australians who were dealing with growing health and housing crises. “NAB’s decision, based on decline in foot-traffic through the affected branches, shows an organisation unable to adapt to changing circumstances such as a global pandemic and a callous approach to supporting communities during a time of need,” Ms Davies said. “In the wake of the royal commission into the banking sector ... you’d think there’d be thought given to more than the bottom line for services like this.”