Residents frustrated at news Margaret River Bankwest branch gone for good

Residents have expressed frustration, but not much surprise at news the Margaret River Bankwest branch has shut down.

The bank’s head office made the decision official last week amid a slew of closures also affecting Busselton, Bunbury and Manjimup, while the Bankwest branch in Dunsborough would transfer to parent company Commonwealth Bank.

In its official statement, Bankwest said many regional banks had as few as 15 over-the-counter transactions per day.

The local business sector was expected to be the hardest hit by the shock news, with farmers and vignerons among the worst affected.

Bankwest executive general manager Jason Chan acknowledged customers would find the switch to online banking-only regrettable.

“I understand this will be difficult news for some of our customers,” he said.

“It is critical we prioritise investment for the majority of our customers who expect leading digital and broker banking services, and rarely use branches, but we have a clear focus on the needs of our regular branch users at this time.”

However, the hit-and-miss nature of the Margaret River branch’s opening hours was already a subject of discussion on social media.

Just a day before the news, residents voiced frustration yet again at finding the Margaret River branch closed unexpectedly.

Residents also questioned the future of service from other existing banks.

“Banks are so annoying these last couple of years,” Margaret River woman Emma St Clair-Ford said online.

“Make a special trip there and closed. Imagine the poor older generation that want some good-old face-to-face service and aren’t online.”

Margaret River Business Network president Rob Gough said the closure would be a blow to some residents who had not already migrated to another service.

“The closure of a local bank branch is generally a painful reality for small businesses and a community who are accustomed to the friendly services of real people,” he said.

“As our main street evolves, we will miss the people and friendly faces behind the local branch and hope to see a new entity fill the vacated space in the near future.”

But Mr Gough said many business customers had already moved their business to the Commonwealth or other entities.

“As a former Bankwest customer, transitioning was a process for our business, but we now have a Commonwealth branch to service our needs,” he said.

Opposition Leader Shane Love MLA said he was assured Bankwest would help existing customers switch to the Commonwealth with direct support.

But the Nationals would be watching closely to make sure commitments to retain existing employees were honoured.

“The likes of Westpac and NAB have been known to pull crucial services from regions with no regard for the needs of the community,” Mr Love said.

“It is refreshing to see this shift in corporate thinking.”