In an era where tapping a card or phone has become the norm for financial transactions, the march towards a cashless society seems almost inevitable. With the convenience of digital banking, the need for physical bank branches has been on a steady decline.
Major banks across Australia have been shuttering their doors, with the number of branches plummeting by 230 in the last financial year alone, according to APRA data. Amidst this digital tide, one of the Big Four banks is making a surprising move that’s turning heads and challenging the status quo.
National Australia Bank (NAB) is bucking the trend by not only keeping its branches open but also extending their hours of operation.
In a move that’s been described as ‘just makes sense’, NAB has announced that it will be opening more branches on Saturdays, a day traditionally reserved for rest or leisure rather than banking. This decision brings the total number of NAB branches open on Saturdays to 31 across the nation, with Chadstone in Melbourne being the latest addition to embrace the weekend crowd.
The shift towards Saturday operations began in November last year, and NAB has reported a positive response from customers. Belinda Mamet, NAB’s personal bank executive, explains, ‘We know how busy customers are from Monday to Friday, so this move just makes sense.’
She acknowledges that while digital banking is the most popular form of service, there’s still a significant portion of the population that prefers face-to-face interactions when it comes to managing their finances.
This strategic move by NAB is a nod to the diverse preferences of their customer base. It recognises that not everyone is ready or willing to embrace a fully digital banking experience. Some customers value the personal touch and reassurance that comes with speaking to a bank representative in person.
Others may not be as tech-savvy or might simply enjoy the routine of visiting their local branch. By extending their hours, NAB is catering to these varied needs and, in doing so, is setting itself apart from competitors.
The decision to open more branches on Saturdays is also a smart business move. By positioning themselves in ‘high foot traffic locations,’ NAB is tapping into a market of potential customers who are out and about on the weekends.
NAB’s move is particularly significant given the broader context of banking in Australia. While the Big Four banks, including NAB, have agreed not to close any more regional banks until at least July 2027, the trend has been towards consolidation and digital services. Westpac, for example, has closed 66 branches, while ANZ and CBA have closed 39 and 32 branches, respectively.
Yet, Westpac is also showing signs of adapting to customer needs by opening new Regional Service Centres that offer a mix of face-to-face support and digital banking assistance.
The Reserve Bank’s findings that cash usage has dropped from 70 per cent of transactions in 2007 to just 13 per cent in 2022, with projections of a further decline to 4 per cent by 2030, underscore the changing landscape of banking.
However, NAB’s latest move suggests that there’s still life in the old bank branch yet, especially for those who prefer the tangibility of cash and the personal service that comes with it.
Here’s a list of NAB branches now open on Saturdays:
- Victoria: Keysborough, Cranbourne, Fountain Gate, Eastland, Epping, Watergardens, Northland, Dandenong, Hoppers Crossing, Doncaster, Chadstone.
- New South Wales: Miranda, Hornsby, Eastgardens, Bondi Junction, Bankstown, Parramatta Westfield, Liverpool.
- Queensland: Indooroopilly, Robina, Chermside, Sunnybank Plaza, Carindale.
- South Australia: Modbury, Marion.
- Western Australia: Success, Karrinyup, Cannington
- Northern Territory: Palmerston
- Australian Capital Territory: Belconnen
What do you think about NAB’s decision to open more branches on Saturdays? Do you prefer digital banking, or are you a fan of the face-to-face experience? Share your thoughts and banking stories with us in the comments below!
Also read: NAB eyes bringing back decades-old banking tradition—what could it be?
I think it’s a great idea.I have a daughter who works at a supermarket and customers think they can get all services previously done at a bank there.
I’d also like them to have ATM’s at shopping centres again. I think that’s why there is a decline in cash use as the only ones there are private ones where you have to pay.
Fiona, some ‘private’ ATMS have no fees for some bank’s cards.
I can use all the Big 4, ATMx & Precinct ATMs without paying any fees. ATMx & Precinct ATMS are private ones, so your ‘blanket’ comment that all private ATMs charge everyone withdrawal fees is incorrect.
It all depends on what services you ‘need’ and where you need to get them.
The list of the Saturday branches are nowhere near country/regional areas, so would be no use to me.
BANKWEST HAS GONE FULLY DIGITAL AND ITS A PAIN IF YOU GET STUCK and your` not offay with computer or IPHONE APPS!
NOT A PERSON TO TALK WITH!
A bit late for us. Our nearest NAB branch is an hour and three quarters for us now. Thank goodness our country town has Australia Post. We do our withdrawals or deposits there.