13 November, 2019

“Seismic concerns” result in bank closure

Westpac will close its Devonport branch because its building fails to meet the bank’s seismic criteria.

The branch was temporarily closed on 17 October after Westpac received the results of a building assessment.

Westpac northern regional head Colin Smith, said the bank had engaged in good faith with the landlord about upgrading the building, but the two parties were unable to reach an agreement.

“We have strict uniform standards across all our branches in New Zealand, which are designed to protect the health and safety of our team and customers. We understandably won’t operate in locations that we consider fall short of those standards.”

Smith said this had resulted in the bank reviewing all its options, including moving its Devonport branch to elsewhere in the suburb.

Taking into account the dramatic changes in the way customers are now banking – with over-the-counter transactions consistently dropping as more customers choose digital options – a decision had been made to close.

Westpac is now looking at possible locations for a new Smart ATM, which could take deposits and bill payments, as well as dispense cash.

Westpac customers can also use ATMs owned by other major New Zealand banks free of charge, Smith said.

No employees are being made redundant as a result of the branch closure. Instead they will transfer to other branches.

The closure means Devonport now has only one bank with a branch on its main street – the ASB.  The ANZ closed last month, and the BNZ around two years ago.

This article originally appeared in the November 15 edition of the Devonport Flagstaff. Download PDF.