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Media Release

Better aligning branch network and services to customers

Tuesday, 10 November 2015

BankSA today said that with more than 95 per cent of all BankSA transactions now taking place outside of branches, and only five per cent of customers banking over the counter, it was making changes to its branch network.

It said it would still have the largest branch network in the state, but was modernising its network and adding new alternatives in response to how customers are choosing to bank.

The key features of the program include:

  • Closure of 20 branches in low demand locations where three per cent or less of transactions take place over the counter, in response to significantly reduced customer use.
  • The formation of a strategic partnership between BankSA and Australia Post which will allow customers to access popular banking services over-the-counter at nearly 300 Bank@Post locations across South Australia, including in every location where BankSA is exploring branch closures, and in more remote areas where BankSA has never had a branch.
  • The rollout of the new ‘Bank Local’ service under which BankSA will partner with select regional councils to deliver banking services to rural and remote customers through council chambers.
  • Investing $30 million over the next two years on refurbishing and upgrading technology across branches and business centres, bringing BankSA’s recent investment in its network to $50 million.
  • Growing its network of 60 plus BankSA agencies across the state.

BankSA Chief Executive Nick Reade said that the changes being implemented were taking place against the backdrop of unprecedented shifts in customer behaviour toward favouring mobile and online banking, including among BankSA’s regional customers.

“While 95 per cent of all BankSA transactions no longer involve a face-to-face interaction in a branch, this number is even higher in many regional communities, where 97 per cent of transactions are performed at ATMs, over the phone or internet, or increasingly using an app on a mobile device,” said Mr Reade. 

“While this phenomenon means that in many ways banking is easier, quicker and more convenient than ever before, it also means transaction volumes at some BankSA branches have fallen to unsustainable levels, even in locations where they are only open a few days a week.

“The way people choose to bank is changing and this has implications for our network structure that we have to responsibly manage.

“Our future strength and sustainability depends on how we respond and adapt to our changing environment now.

“Branch closures are always difficult decisions and, because we know how they can impact some smaller communities, we have worked hard to ensure continuity of face-to-face banking services while addressing declining transaction volumes at some branches.”

Mr Reade said the steps BankSA is taking also means it can direct future investment in the bank’s branch network in areas where it is needed most so it can build a modern, sustainable presence South Australians can rely on.

“At the same time, we know that change like this can be unsettling and we will work closely with customers who may require assistance with accessing banking alternatives in their community,” he said.

“Our partnerships with Australia Post and regional councils will result in 300 new face-to-face banking alternatives, and in every location where BankSA is planning to close a branch, a Bank@Post alternative already exists and can be accessed by customers.

“BankSA will still continue to have the largest branch network in the state and support local communities and families – like we have for almost 170 years – to ensure BankSA remains South Australia’s bank for the future.”



BankSA’s partnership with Australia Post allows BankSA customers to conduct traditional cash withdrawals, coin, cash and cheque deposits, in-store identity checks for new to BankSA customers and account balance enquiries at more than 300 post office locations across South Australia.

BankSA is also partnering with regional councils in South Australia to roll-out ‘Bank Local’; an electronic agency agreement, hosted by councils, that creates an additional transactional banking service for customers, while providing a new revenue stream for councils.


BankSA is planning to close its branches in Booleroo Centre, Tintinara, Gladstone, Orroroo, Meningie, Lameroo, Riverton, Streaky Bay, Burra, Eudunda, Penola, Wallaroo, Balaklava, Barmera, Mt Pleasant, Robe, Yorketown, Cleve, Mt Compass and Crystal Brook.


For more information on FAQs relating to these changes, click here.

For a look at how our customers are banking with BankSA, click here.