Frequently asked questions
What are the changes?
BankSA is making changes to how services are delivered in response to changing customer trends.
BankSA plans to close 20 branches where declining customer numbers and transaction volumes no longer support a permanent presence.
However, customers in each of these locations will be able to carry out the most popular everyday transactions at their local Post Office via Bank@Post. This includes deposits, withdrawals, statements, transfers, balance enquiries and change.
BankSA is also working to explore other face-to-face banking alternatives, including partnering with local councils in some locations to deliver services from council premises.
Additionally, BankSA maintains agencies within other local businesses in some locations where branch closures are planned.
In many cases, these services will increase the hours of banking service to many communities, compared to the branch.
What is the reason for these changes?
The way people choose to bank is changing. More and more people now choose to bank online, by phone or using a mobile device because it is quick, secure and convenient. In fact, only five per cent of customer transactions now take place in branch and in many regional communities, this number has fallen as low as three per cent. BankSA is adapting to this changing environment.
When will these changes be effective from?
These changes will become effective from between 23 February and 7 March 2016, depending on location.
How will I know if I am a customer at one of these locations?
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.
All customers in these locations will be personally contacted via letter explaining how they can continue to bank with BankSA in their local community.
Will the changes result in any extra cost to customers?
No. There will be no additional cost to customers as a result of the new service arrangements.