Australia's big four banks shut down 3800 ATMs

Tuesday 1 March 2022 13:54 CET | News

Data has shown that almost 459 Australian branches have been shut down in the last few years, while thousands of ATMs were also removed.

Over the last three years, around 3800 ATMs were taken out of circulation, representing more than a third of all existing cash machines in the country.

At the same time, the big four banks – CBA, Westpac, ANZ and NAB – permanently closed the doors of 459 of their branches, according to data obtained by The Daily Telegraph.

NSW lost 140 bank stores during that period. Of those, 20 were shut down in Sydney, and the rest were closed across smaller cities and regional areas in the state. The shutdowns left nearly 300 NSW suburbs without a branch to visit, and 216 suburbs have been left with no way to procure cash after the closure of ATMs in the area.

The closures are particularly bad news for regional and rural areas, and older citizens.

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Keywords: banks, ATM, digitalisation, financial institutions, cash
Categories: Banking & Fintech
Countries: Australia
This article is part of category

Banking & Fintech