BENDIGO Bank says its decision to walk away from the agency model after more than 30 years had been difficult.
The bank on Tuesday confirmed it would “retire” the model for its remaining 26 agencies in October.
Chief customer officer consumer Taso Corolis said: “The difficult decision to retire the agency model has been informed by evolving customer preferences leading to reductions in business activity, limited use of these services, and an increase in costs and compliance obligations.
“Bendigo Bank operates more branches per customer than any other Australian bank and Australia’s second largest regional branch network,” he said. 
“We are proud of our regional heritage and are committed to providing face-to-face banking services for our customers.”
“To preserve what makes our bank unique, we must prioritise our investments across both physical and digital channels to continue meeting the changing needs and growing expectations of our 2.7 million customers.”
“We understand it may take time for some customers to adjust to these changes and we will support them through this. 
“We are proactively supporting customers affected by the closures and will offer them assistance.  “This may be in the form of connecting them with their closest alternate service, including nearest branch or Bank@Post locations, and walking them through e-banking services available, when required,” he said.
There has been criticism that the bank was still to tell agency customers of the closures after Tuesday’s announcement.
Loddon Shire councillor David Weaver branded the bank’s decision short-sighted and colleague Miki Wilson raised concern for anxiety among vulnerable people when the remaining two local agencies at Wedderburn and Boort close in October.
Mayor Dan Straub said agency closures would be a burden on residents and community groups.
Cr Gavan Holt had earlier this week told the Loddon Herald: “The Bendigo Bank sells itself as a community bank, a bank with a community focus.” According to the bank, there will be “a range of banking options ... available to customers impacted by this change. There is no action for customers to take as there will be no impact to how their accounts operate”.
“Customers can continue to transact as normal at any Bendigo Bank branch, ATM, or at any time via internet banking, our mobile app or by phone.  “Customers can also choose to bank in-person using Bank@Post or at any of the 3500 Australia Post outlets across Australia.”
When asked about possible agency closures last week, the bank told the Loddon Herald: “Bendigo Bank’s purpose is to feed into the prosperity of its customers and the community. The bank has more branches per customer than any other Australian Bank and operates Australia’s second largest regional branch network. 
“Bendigo Bank communicates changes to its business that impact its people, customers and communities promptly whenever relevant decisions are made,” a spokesperson said.

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