Explore the recent trend of US banks closing branches due to the rise of online banking and digital solutions.

Since 2015, more than 6,600 bank branches have closed, with some communities losing over 90 per cent of their network. Today, nearly 50 Parliamenta...

YouTube video by Dr Andy Schmulow for Senate 2028

TikTok video by The Corporate Clapback

TikTok video by The Corporate Clapback

An 84-year-old Scottish woman has accidentally proven that the entire global financial system depends on her local bank branch staying open. Spoiler: it didn't.

Account closures are coinciding with a presidential executive order targeting undocumented immigrants, suggesting financial institutions are aggressively monitoring accounts.

TikTok video by The Corporate Clapback

By STEFAN BRADLEY   BENDIGO Bank closed its Yarram branch and ATM on September 25, shifting customers over to their Traralgon branch. Whether they switch banks or not, Traralgon may be the best choice to access certain bank services, potentially increasing foot traffic to the area, but putting pressure on parking spots. This month will see even more hardship for banking customers in Gippsland and all of regional Australia after Bendigo Bank closed its bank agency model after 30 years. The Welshpool agency closed on Monday, October 6. Customers in Yarram face an almost two-hour round trip by car if they want to bank face-to-face at the Bendigo Bank branch in Traralgon, travel 39 kilometres to the Bendigo branch at Toora, or use the Bank@Post service at a post office. The nearest Bendigo Bank fee-free cash access point is at Community Bank Foster. Residents and workers in the area have told the Express they’ve already switched banks or plan to, and others did not use Bendigo Bank in the first place, so they’re used to travelling for services to Traralgon, Sale or elsewhere. David Miller, coordinator at Twice Blessed Op Shop Yarram, said the Yarram Anglican Church had to switch from Bendigo Bank. Doing so is not always easy, as signatories were required as a church organisation. “We’ve got a deposit book, and you used to go into the (Bendigo Bank) branch and deposit the cash. Now we can’t do that,” he said. And it’s not just Yarram, of course. Katie Cripps lives in Port Franklin in South Gippsland, but works nearly 40 minutes away as owner of Port Albert Fish & Chip Co. They were not Bendigo Bank customers, so they are used to traveling to Traralgon or Leongatha for major banking services. But on the way to work, they would stop at the Bendigo Bank in Welshpool to collect change. However, that agency is now closed. “Port Albert post office is really great and we (are) getting change from them now,” Ms Cripps said. “(The closures) just cause so much more trouble for us country people who are already spending so much time on the road and it’s especially (tough) for older people in Yarram … I think it’s a really sad thing.” Nearly everyone the Express spoke to was concerned about elderly customers who didn’t want to give up their bank book, or may struggle with digital banking and will have to learn how to use it, unless they travel elsewhere. The Express asked Bendigo Bank about elderly customers in particular who may be struggling with banking digitally, given the closure was announced with less than three months’ notice. “The bank is working hard to support its people and customers impacted by the changes. We recognise some customers, such as those experiencing vulnerability, may experience greater impacts, and encourage these customers to contact us so we can better support them through the transition,” a Bendigo Bank spokesperson said. “The bank supports a framework that provides incentives for banks to continue delivering face-to-face banking services in regional communities. Bendigo Bank engages a variety of stakeholders, including the government, on ways to find longer-term options to address access to banking in regional areas.” Bendigo Bank Korumburra has also closed in recent weeks.