Customers urged to find new branches with Commonwealth Bank to close site

A notice of closure said the branch would permanently close its doors at 4pm on Friday, August 16.

CBA suggested local customers visit its website to read about different options available for everyday banking, and mentioned options like its banking app and phone banking.

Its notice also said the Dickson Post Shop would participate in over-the-counter transactions like withdrawals, deposits, and questions about balances including passbooks. The post office is in the same complex as the soon-to-be-closed branch.

There are six other branches remaining in the ACT. Canberra Centre, Belconnen and Gungahlin are closest to Dickson, while the rest are in Griffith, Woden and Greenway in Tuggeranong. There is also a branch in Queanbeyan.

ACT area manager Sean Barry said Dickson customers would be welcomed at other branches.

"Our Canberra City, Gungahlin and Belconnen branches are popular banking centres for local communities. These are larger branches, with more staff at each location, including home lending specialists, business bankers, and access to convenient self-service technology," he said.

"We remain committed to maintaining the largest branch network in the country and over the last four years have invested more than $6.4 million into our Canberra presence."

The Canberra Times understands staff at the Dickson branch will be retained.

The country's largest bank joins other financial institutions in closing branches. CBA's subsidiary Bankwest announced in March this year it would become a digital-only bank and close all its branches by October.

A protracted Senate committee investigation into the widespread closure of banks since 2017 handed down its report in May.

The report said a major reason for the disappearing branches was reduction in foot traffic and banks redirecting funds into digital infrastructure as people were increasingly using mobile banking options.

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In an opening letter to the committee last year, CBA's chief executive Matt Comyn said customers were changing their banking behaviours particularly when it came to paying with cash.

"Five years ago, 43 per cent of all point of sale transactions were cash. Today, the figure is around 15 per cent," he wrote.

"And yet, every week, customers transact more than $18 billion through the CommBank app, an increase of 64 per cent in just two years."

The letter also stated a sustainable commercial model mattered and added that it cost CBA about $30,000 per year to operate one ATM.

ANZ Bank also permanently closed its Dickson branch in November 2022 after stating customers were increasingly choosing online banking.