1 00:00:00,440 --> 00:00:02,599 Speaker 1: Come on, I think they've done a bad, bad thing. Lisa. 2 00:00:02,800 --> 00:00:05,640 Speaker 2: Well, the it is it is owned by the Commonwealth Bank, 3 00:00:05,680 --> 00:00:09,840 Speaker 2: but in this bank West on this occasion, are they 4 00:00:10,119 --> 00:00:14,560 Speaker 2: are going to close all branches in a digital to 5 00:00:14,680 --> 00:00:17,640 Speaker 2: move towards digital only? Was thisiten in West Australia or 6 00:00:17,680 --> 00:00:20,200 Speaker 2: perages in West Australia by October? 7 00:00:20,560 --> 00:00:22,200 Speaker 1: Are all things? 8 00:00:22,320 --> 00:00:25,720 Speaker 2: Money? Person is Michelle Maynard from the Carbon Group and 9 00:00:25,760 --> 00:00:30,400 Speaker 2: she's with us this morning. Hello Michelle, Michelle, Welcome, Good morning, Michelle. 10 00:00:30,440 --> 00:00:32,760 Speaker 2: We've been you know, this has been being teased for 11 00:00:32,800 --> 00:00:35,960 Speaker 2: a while now, at least a year or so. I 12 00:00:36,080 --> 00:00:38,680 Speaker 2: was almost becoming a question of who'll be first to 13 00:00:38,920 --> 00:00:43,680 Speaker 2: completely rid the streets, and it's Bank Weest closing forty 14 00:00:43,680 --> 00:00:45,800 Speaker 2: five branches across WA. 15 00:00:46,920 --> 00:00:49,120 Speaker 3: Yeah, they're closing forty five and then they're going to 16 00:00:49,280 --> 00:00:54,400 Speaker 3: rebrand fifteen rural ones into Commonwealth Bank branches. And they 17 00:00:54,440 --> 00:00:56,640 Speaker 3: had said that they were going to do this by 18 00:00:56,720 --> 00:00:59,520 Speaker 3: twenty twenty six, but obviously they've been counting the numbers 19 00:00:59,800 --> 00:01:01,920 Speaker 3: and it works for them to do it sooner rather 20 00:01:01,960 --> 00:01:04,560 Speaker 3: than later. And they've come out and said their justification 21 00:01:04,680 --> 00:01:08,200 Speaker 3: for this is ninety seven percent of their customers never 22 00:01:08,400 --> 00:01:10,480 Speaker 3: set foot in a branch at all, and on the 23 00:01:10,560 --> 00:01:13,880 Speaker 3: average there's about thirty transactions per day in a city 24 00:01:13,880 --> 00:01:17,440 Speaker 3: branch and about fifteen in a rule, So that's their justification. 25 00:01:17,680 --> 00:01:20,880 Speaker 3: But everyone on social media is not that happy about it. 26 00:01:21,040 --> 00:01:22,880 Speaker 2: Yeah, what we think about her parents are well exactly 27 00:01:22,959 --> 00:01:25,039 Speaker 2: we were talking about this earlier class. He said, when's 28 00:01:25,040 --> 00:01:26,520 Speaker 2: the last time you went into the because I'm with 29 00:01:26,520 --> 00:01:27,840 Speaker 2: bank Quest and he said, when's the last time he 30 00:01:27,880 --> 00:01:29,880 Speaker 2: went into the branch? And I've said it would it 31 00:01:29,880 --> 00:01:35,280 Speaker 2: would have been twenty twenty, late twenty two and it 32 00:01:35,360 --> 00:01:41,440 Speaker 2: was two having to sign some motgitulated papers, So yes, 33 00:01:41,520 --> 00:01:44,479 Speaker 2: I get it. But having said that, my mom, who's 34 00:01:44,480 --> 00:01:47,800 Speaker 2: eighty five, probably still goes to the bank a couple 35 00:01:47,840 --> 00:01:49,320 Speaker 2: of at least a couple of times a week, and 36 00:01:49,360 --> 00:01:52,120 Speaker 2: she doesn't know her way around doing it online. 37 00:01:53,640 --> 00:01:55,880 Speaker 3: I think I think that's what's the message here is 38 00:01:55,920 --> 00:01:57,360 Speaker 3: not people are saying is for those of us that 39 00:01:57,400 --> 00:01:59,840 Speaker 3: it doesn't effect it doesn't affect us. So those that 40 00:01:59,880 --> 00:02:03,680 Speaker 3: are will it will affect them heavily and to their credit. 41 00:02:03,720 --> 00:02:05,520 Speaker 3: Bank westers come out and I've been watching their social 42 00:02:05,560 --> 00:02:08,160 Speaker 3: media because I always like to see how companies react 43 00:02:08,200 --> 00:02:10,720 Speaker 3: to a situation. Like this, and they aren't answering every comment, 44 00:02:10,760 --> 00:02:14,079 Speaker 3: so they say what your options are is Australia Post 45 00:02:14,680 --> 00:02:17,000 Speaker 3: does bank at posts, so anybody where there is an 46 00:02:17,000 --> 00:02:20,320 Speaker 3: Australia Post outlet can go and do their banking transactions 47 00:02:20,360 --> 00:02:22,280 Speaker 3: over the counter through the post office, so they will 48 00:02:22,280 --> 00:02:25,160 Speaker 3: still have that face to face option. They are also 49 00:02:25,840 --> 00:02:28,600 Speaker 3: they're partnering with the Big four banks, so because they're 50 00:02:28,600 --> 00:02:31,040 Speaker 3: going to shut their ATMs as well, they're saying if 51 00:02:31,040 --> 00:02:33,799 Speaker 3: you need to get money out at any Big four atm, 52 00:02:34,080 --> 00:02:36,360 Speaker 3: you won't get charged fees to do that, so you're 53 00:02:36,360 --> 00:02:38,480 Speaker 3: still going to be able to access your cash. But 54 00:02:38,560 --> 00:02:41,960 Speaker 3: it is those anominally things. It's applying for loans, it's 55 00:02:42,280 --> 00:02:44,639 Speaker 3: setting up bank accounts for children, it's how is all 56 00:02:44,639 --> 00:02:47,040 Speaker 3: that going to work when before we used to have 57 00:02:47,120 --> 00:02:49,200 Speaker 3: to go into the bank. So obviously they're going to 58 00:02:49,200 --> 00:02:52,560 Speaker 3: be beating up their security and online processes because they're 59 00:02:52,560 --> 00:02:54,679 Speaker 3: going to want us to interact with them online from 60 00:02:54,680 --> 00:02:54,920 Speaker 3: now on. 61 00:02:55,080 --> 00:02:56,960 Speaker 4: Okay, so they're working on it, and Michelle, with anything, 62 00:02:57,000 --> 00:02:59,040 Speaker 4: that's the generational thing, it's hard to pick the point 63 00:02:59,040 --> 00:03:00,960 Speaker 4: where you make the jump, and they've decided to go 64 00:03:01,240 --> 00:03:03,239 Speaker 4: maybe a little earlier, as you said from twenty twelve. 65 00:03:03,280 --> 00:03:05,079 Speaker 2: I totally agree. I think they need to wait that 66 00:03:05,080 --> 00:03:07,120 Speaker 2: a little bit longer. For a minute sounds awful, but 67 00:03:07,160 --> 00:03:07,760 Speaker 2: for that, you. 68 00:03:07,720 --> 00:03:10,160 Speaker 1: Know, generation to move on, to move on. 69 00:03:10,320 --> 00:03:13,600 Speaker 3: Actually, and we are really really changing how we use money. 70 00:03:13,720 --> 00:03:15,160 Speaker 3: A lot lot of people don't know it unless it 71 00:03:15,200 --> 00:03:17,800 Speaker 3: affected you. Bank West actually pulled out of business banking 72 00:03:17,919 --> 00:03:20,239 Speaker 3: earlier this year in February, so they told all of 73 00:03:20,280 --> 00:03:23,360 Speaker 3: their business customers we're not dealing with business accounts anymore. 74 00:03:23,400 --> 00:03:26,200 Speaker 3: You have to jump ship somewhere else. So I really 75 00:03:26,240 --> 00:03:28,520 Speaker 3: are targeting down to a niche bank as to what 76 00:03:28,560 --> 00:03:30,720 Speaker 3: it is that they're going to focus on in terms 77 00:03:30,760 --> 00:03:33,080 Speaker 3: of their customer base. And look, that might not be 78 00:03:33,120 --> 00:03:35,080 Speaker 3: for everyone. The joy of what we have here in 79 00:03:35,080 --> 00:03:37,120 Speaker 3: this country is we have a lot of options. So 80 00:03:37,480 --> 00:03:39,200 Speaker 3: if it doesn't you and I know it is an 81 00:03:39,240 --> 00:03:42,040 Speaker 3: absolute pain, but if you do want that face to 82 00:03:42,080 --> 00:03:45,360 Speaker 3: face option, there are other options. But keeping in mind, 83 00:03:45,440 --> 00:03:48,240 Speaker 3: we are changing how we use our banking and those 84 00:03:48,400 --> 00:03:52,000 Speaker 3: in person opportunities will get smaller and smaller and smaller. 85 00:03:52,120 --> 00:03:54,600 Speaker 2: I feel better now that you've said about you know, 86 00:03:54,600 --> 00:03:56,680 Speaker 2: pretty much anything mum could do at the bank, she 87 00:03:56,760 --> 00:03:57,440 Speaker 2: can do at. 88 00:03:57,360 --> 00:03:58,160 Speaker 1: The post office. 89 00:03:59,160 --> 00:04:00,640 Speaker 2: And I think what we need to be mindful of 90 00:04:00,840 --> 00:04:04,720 Speaker 2: just today is just to reassure them because they are panicking. 91 00:04:04,920 --> 00:04:06,040 Speaker 1: You have to tell them the old. 92 00:04:07,680 --> 00:04:09,080 Speaker 3: And I get that, and I think this is the 93 00:04:09,080 --> 00:04:12,200 Speaker 3: part that absolutely sucks in terms of the messaging is 94 00:04:12,360 --> 00:04:14,920 Speaker 3: all the messaging has come out digitally, all of the news, 95 00:04:14,960 --> 00:04:17,440 Speaker 3: and so obviously the older generation will hear on the news. 96 00:04:17,440 --> 00:04:19,240 Speaker 3: But I really do hope Bank West is going to 97 00:04:19,240 --> 00:04:21,520 Speaker 3: do the good old paper mail out of what you 98 00:04:21,560 --> 00:04:24,440 Speaker 3: can do now all those people that need it. 99 00:04:24,600 --> 00:04:26,760 Speaker 4: Yeah, right, Michelle. It sounds like they've done their due 100 00:04:26,760 --> 00:04:28,919 Speaker 4: diligence on this and they're putting the right things in 101 00:04:28,960 --> 00:04:30,080 Speaker 4: place in the circumstance. 102 00:04:30,080 --> 00:04:31,880 Speaker 2: What about the bank staff, are they going to be 103 00:04:32,040 --> 00:04:34,200 Speaker 2: sort of redeployed into you. 104 00:04:34,160 --> 00:04:36,760 Speaker 3: Know, they have said that they will be doing that 105 00:04:36,920 --> 00:04:39,880 Speaker 3: obviously the rural The rural staff I'm presuming will stay 106 00:04:39,920 --> 00:04:42,040 Speaker 3: and then just be transferred over to Commonwealth Banks because 107 00:04:42,120 --> 00:04:46,440 Speaker 3: those brands are still staying. Anybody in a metropolitan branch. 108 00:04:46,480 --> 00:04:48,520 Speaker 3: They said that they are going to be offering them 109 00:04:48,560 --> 00:04:51,280 Speaker 3: other positions when in the company, because obviously they still 110 00:04:51,320 --> 00:04:54,760 Speaker 3: need people to help do things behind the scenes. But 111 00:04:54,800 --> 00:04:56,640 Speaker 3: whether or not that's the job that they want to do, 112 00:04:56,760 --> 00:04:59,479 Speaker 3: I suppose, is the question. So but they have it 113 00:04:59,520 --> 00:05:03,040 Speaker 3: assured that there won't be job losses, just redeployment somewhere else. 114 00:05:03,480 --> 00:05:06,040 Speaker 4: And Michelle, this is all part of the changing face 115 00:05:06,040 --> 00:05:07,600 Speaker 4: in the way we're using money. If I was to 116 00:05:08,000 --> 00:05:10,320 Speaker 4: pull jump out of the lights at Alexander Drive today 117 00:05:10,360 --> 00:05:11,920 Speaker 4: and try and wash your windscreen, would you have any 118 00:05:11,920 --> 00:05:12,520 Speaker 4: coins for me? 119 00:05:12,760 --> 00:05:15,160 Speaker 1: Do you have coins? I wouldn't. 120 00:05:14,320 --> 00:05:20,159 Speaker 3: I do not carry cash at all and absolutely suck 121 00:05:20,200 --> 00:05:21,520 Speaker 3: for my kids when they look at me for you 122 00:05:21,600 --> 00:05:24,440 Speaker 3: or something. But you know, I don't. And that's the 123 00:05:24,440 --> 00:05:26,520 Speaker 3: way society is going. And I know that's probably a 124 00:05:26,560 --> 00:05:28,560 Speaker 3: dangerous move on a lot of our passing that we 125 00:05:28,600 --> 00:05:31,440 Speaker 3: saw when Keelster went down, nobody could buy a coffee, 126 00:05:31,440 --> 00:05:37,039 Speaker 3: which created a whole bunch of angry people. But yeah, 127 00:05:37,080 --> 00:05:39,159 Speaker 3: but that is the way that society is going, you know. 128 00:05:39,279 --> 00:05:41,640 Speaker 3: I think they said forty four percent of people haven't 129 00:05:41,760 --> 00:05:44,000 Speaker 3: used cash in the last month, and I would definitely 130 00:05:44,040 --> 00:05:44,839 Speaker 3: be one of those people. 131 00:05:45,040 --> 00:05:48,039 Speaker 2: I would too, and I've always saw myself as the 132 00:05:48,160 --> 00:05:50,719 Speaker 2: last one to stop using Yeah. 133 00:05:51,080 --> 00:05:53,480 Speaker 3: But yes, I am as equally outraged everybody else when 134 00:05:53,480 --> 00:05:55,200 Speaker 3: they talk about going to a cash for society, so 135 00:05:55,200 --> 00:05:56,120 Speaker 3: I have no idea why. 136 00:05:56,440 --> 00:05:58,799 Speaker 2: Well, look, Michelle, I'm so glad we called you because 137 00:05:58,800 --> 00:06:01,960 Speaker 2: you've made me feel better. Ord and I will come 138 00:06:02,040 --> 00:06:02,680 Speaker 2: my mom down. 139 00:06:04,000 --> 00:06:06,560 Speaker 3: But let mom know she is okay. Tell all the 140 00:06:06,640 --> 00:06:10,119 Speaker 3: old friends that they are okay. They will be fine. 141 00:06:09,720 --> 00:06:12,000 Speaker 3: It's going to be a Bank West branch I go into. 142 00:06:12,080 --> 00:06:14,320 Speaker 3: It'll be in a post office like it was the 143 00:06:14,320 --> 00:06:15,080 Speaker 3: post office as well. 144 00:06:15,120 --> 00:06:16,480 Speaker 1: That's an outing she does love. 145 00:06:17,839 --> 00:06:20,320 Speaker 2: That is an outing for them, all right, Michelle, thank 146 00:06:20,400 --> 00:06:25,360 Speaker 2: you pleasure. My mother has a more active social life 147 00:06:25,400 --> 00:06:27,560 Speaker 2: than I do, that's for sure. So I mean when 148 00:06:27,600 --> 00:06:29,800 Speaker 2: I say trip to the banker, is it outing for her? 149 00:06:30,240 --> 00:06:31,000 Speaker 1: It's actually not. 150 00:06:31,560 --> 00:06:32,800 Speaker 2: She she's got to going on. 151 00:06:32,920 --> 00:06:35,880 Speaker 4: She's going she's got mates she's farting with and all 152 00:06:35,880 --> 00:06:37,559 Speaker 4: the rest of it. 153 00:06:37,560 --> 00:06:38,560 Speaker 2: It's embarrassing. 154 00:06:39,839 --> 00:06:41,359 Speaker 1: I find it quite funny.