• At least 2150 ATM terminals removed across Australia in the recent June quarter
• Australia’s big four banks shut up a combined 175 branches in the last 12 months
• Sparked by COVID-19 as Australia move closer to becoming a cashless society 
• Opinion divided over branch and ATM closures which will inconvenience elderly

Commonwealth Bank customers withdraw cash in Brisbane, Australia. Click to enlarge

Kylie Stevens – Daily Mail Aug 17, 2020

The coronavirus crisis has sparked the closure of a record number of ATMs and hundreds of bank branches as Australia moves closer towards a cashless society.

The number of ATMs across the nation are at their lowest level in 12 years at 25,720, after at least 2150 terminals removed in the recent June quarter, according to the Australian Payments Network.

Australia’s big four banks – ANZ, Commonwealth, NAB and Westpac – also shut up a combined 175 branches in the last 12 months.

The widespread closures have divided public opinion and left 2.5 million elderly Australians who don’t do online banking inconvenienced.

Of the 175 branch closures, ANZ had the highest number with 68, followed by the Commonwealth with 44, Westpac had 36 while NAB shut 27.

Westpac removed the most ATMs at 84, followed by ANZ at 73 and NAB at 21 while Commonwealth Bank didn’t disclose its number of closed terminals.

The Reserve Bank of Australia’s head of payments policy Tony Richards said most ATM closures were in metropolitan areas in locations such as shopping centres.

‘Overall the bank expects the long-term downward trend in the use of cash to continue,’ he told News Corp.

Australian Banking Association’s chief executive officer Anna Bligh added: ‘Australia’s banks have invested heavily to keep up with the customers banking preferences with technology and data now playing a key role in how banks do their business’.

Not everyone has welcomed the move by the banks.

National Seniors Australia chief advocate Ian Henschke said many of the elderly feel more comfortable using cash amid a fear of being scammed online.

‘Many of them are older Australians and taking away services from them is going to be extremely difficult for them,’ he said.

The ATM and branch closures have also divided public opinion.

‘This is stupid If I wasn’t living with my son and family I would not be able to have the Internet. So how the hell do low income and pensioners get their money. Oh right we will be forced to walk into a bank and will be charged. Profit before people as usual,’ one woman posted on Facebook.

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