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Greater Bank to cease Saturday trading

Greater Bank has confirmed today that it will cease Saturday trading across its branch network.

The bank’s 53 branches had been trading at reduced hours in recent months due to COVID restrictions and community lockdowns, before reopening from 9am to 5pm weekdays, from 18 October in line with the NSW Government’s Roadmap for easing COVID-19 restrictions. A decision was taken though not to reopen on Saturday mornings.

Greater Bank’s Group Executive Sales Marketing and Distribution, Craig Newham, said that while providing customers with over-the-counter banking through the branch network remains very important, the decision to cease Saturday trading was in line with changes in customer behaviour and the downturn in over-the-counter transactions.

“Greater Bank has provided customers with over-the-counter banking services for more than 75 years and we are committed to maintaining this key customer channel,” Mr Newham said.

“The reality for all financial institutions though is the need to manage changing customer behaviour, which has seen a significant increase in the use of digital channels to conduct their banking. This shift has been accelerated as a result of the pandemic.

“While weekend trading was once a point of difference for Greater Bank, pre-COVID we had already seen a significant reduction in branch transactions on Saturday morning, to a point where we had less than 600 of our 274,000 customers who use this service exclusively on a Saturday morning.

Craig Newham, Greater Bank Group Executive Sales, Marketing and Distribution.

“During the COVID lockdowns when we wound back Saturday trading, we worked with these customers to ensure they had alternate means of transacting with us.

“Outside of the branch operating hours, our customers can conduct a range of banking services online or using the mobile app. They can also access cash via the ATM network, or ATMs of the four major banks – Commonwealth Bank, Westpac, ANZ and NAB – direct-fee free.

“Our mobile lenders will also continue servicing the region to assist current and prospective customers regarding the home and personal loan needs.”

Mr Newham confirmed that Greater Bank had consulted with its retail network employees to ensure that they are not impacted by the changes, as well as the respective landlords.

“Overall, the decision has been well received by our branch employees. There will be no job losses nor will they be impacted financially as we result of the change.”

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