Bendigo Bank will cease its agency services in Myrtleford after 24 October this year.
As part of nationwide move, the bank is cancelling agency services at 28 third-party businesses around the country, including Myrtleford Real Estate and Livestock, which has provided small banking services for local Bendigo Bank customers for several years.
Bendigo Bank branches, such as the one located in Bright, will remain open and continue business as normal.
Bendigo Bank is advising its Myrtleford customers they will be able to access banking services at the town's post office through Bank@Post, as well as attend the Bright branch.
Australia Post said it partners with more than 80 financial institutions to offer Bank@Post for everyday banking services at over 3300 post offices around the country, including in regional and rural locations like Myrtleford.
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"Through Bank@Post, Bendigo Bank customers can deposit cash and cheques, withdraw cash and make balance enquiries over the counter at local post offices," an Australia Post spokesperson said.
In a recent statement, Bendigo Bank said its third-party agency model cannot be supported any longer due to decreasing customer use and other relevant factors.
Alpine Shire Mayor, Councillor Sarah Nicholas said the announcement was disappointing for regional communities which are in need of accessible local banking services.
"Whether it's an agency or a bricks-and-mortar bank building, the service is still being lost," she said.
“It does not make sense to reduce services, as the Alpine Shire is vibrant and growing.
“Residents in Myrtleford still have the option of a Commonwealth Bank branch, which was nearly closed in recent years, but amended its model to stay open.
“It's also important the digital skills gap is recognised: it's fine for digital natives who absolutely know how it all works, but people who have to build those skills up later in life often find it difficult to navigate.”
Bendigo Bank’s chief consumer customer officer, Taso Corolis, said it may take time for some customers to adjust to these changes and they have the bank’s support.
“We are proactively supporting customers affected by the closures and will offer them assistance,” he said.
“This may be in the form of connecting them with their closest alternate service, including the nearest branch or Bank@Post locations and walking them through e-banking services available, when required.”
Customers can choose to bank in-person using Bank@Post locally at Whorouly, Myrtleford and Bright.
