Bendigo Bank Closure Sparks Outrage in Queenstown, Tasmania
Residents of Queenstown, Tasmania, are rallying against the closure of their only remaining bank branch, a move announced by Bendigo Bank to take effect from September 26. This decision has left the community with a staggering two-hour journey to reach the next closest bank in Burnie.
Janet Lay, a long-time customer of the bank for over two decades, expressed her anger at the closure. "I was absolutely furious when I heard the news," she stated. The imminent shutdown not only impacts her but poses significant challenges for many residents, particularly given that it’s the sole physical bank on Tasmania’s west coast.
Despite the bank reducing its operating hours over the past year, community members were repeatedly assured that the branch would remain open. Lay lamented, "They kept telling us the bank would support us, and now, just months later, it’s closing down. Their reputation as ‘Australia’s most trusted bank’ feels misleading here."
Many locals prefer banking in person, with Lay emphasising the importance of having control over their finances. "I like to manage my money physically; it ensures I know exactly where every cent goes," she noted.
With Bendigo Bank’s closure, Queenstown will be left with limited banking options. Residents can access basic services through Australia Post’s Bank@Post system, which has restrictions on cash deposits and withdrawals. Additionally, there is only one other ATM in town, situated outside the Railway Supermarket, and it incurs transaction fees.
In a statement, Bendigo Bank described the closure as a difficult but necessary decision informed by changing customer preferences and decreased banking activity. A bank spokesperson explained, "Our decision stems from a review of these factors alongside rising operational costs. We genuinely apologise for any inconvenience this may cause."
Data regarding branch usage revealed a concerning trend: cash withdrawals dropped significantly, from 141 in 2021 to just 61 in 2025, with a total of 2,433 deposits made this year. This decline echoes a broader trend where interactions with bank branches have fallen by 50% as more Australians shift towards digital banking.
Commenting on the situation, West Coast Council Mayor Shane Pitt emphasised the adverse effects the branch’s closure will have on the community’s older population, who often rely on face-to-face banking. "This is a huge impact, especially as we lose one of only two ATMs in Queenstown," he remarked, highlighting concerns about the effect on local tourism as well.
The mayor also pointed out the lack of community consultation prior to the decision. He expressed dissatisfaction with previous assurances from Bendigo Bank representatives, which have proven to be misleading. "There was absolutely no consultation about the closure. We were led to believe the bank would remain open," said Pitt.
Taking action, Lay has initiated an online petition opposing the closure, which has garnered over 260 signatures. She described a pervasive sense of anxiety in the community regarding the future of their banking services. "People are worried about managing their finances post-closure," she said.
Moreover, she added that the closure sends the wrong message to prospective residents and businesses considering the west coast as a viable option, warning that it may lead to a perception of decline in the area.
Despite the challenges ahead, Mayor Pitt is exploring alternative options that might allow the bank to remain open, such as the possibility of transitioning to a community bank model. He has communicated with Bendigo Bank to seek a temporary reprieve until at least June 2026, pending the expiration of the building lease.
The proposed closure of Bendigo Bank is part of a broader trend, with the bank announcing the closure of 10 branches across Victoria, Queensland, and Tasmania in the coming months. Meanwhile, a federal government agreement with the Big Four banks aims to keep regional branches operational until at least 2027, reflecting concerns over the accessibility of banking services in rural areas.
As Queenstown grapples with the impending closure, its residents remain hopeful for a solution that will allow them to maintain access to essential banking services within their community.
