Westpac has today announced it will extend its moratorium on regional branch closures and pilot a new way to deliver banking services to regional communities through a new Community Banking Service.
Westpac first implemented a pause on regional branch closures in 2023 which was extended earlier this year until mid-2027. Today's announcement means the moratorium will remain in place through to 2030.
The bank has also today unveiled a raft of new initiatives over the next five years that will grow and improve its regional banking services, including:
- Piloting a new regional Community Banking Service. Westpac will commence a pilot program in partnership with local councils to deliver a visiting banking service to three regional towns, with plans to grow over time.
- Upgrades to 50 regional branches. An investment of more than $65 million to renovate the bank's existing regional network with a modern fit-out.
- Regional graduate program. Dedicated placements launching in 2026 across ten key regional centres, offering training, development and employment opportunities with fast-tracked career pathways for talent in the regions.
- Community support. More than $1.5 million annually for local events and sponsorships.
Westpac CEO Anthony Miller says the new measures follow a full review of the bank's regional banking services.
"Strong regional communities are vital for a strong Australia, and we want to make sure these areas have access to the services they need to prosper and grow," Miller said.
"We've conducted a coast-to-coast review of our services and are increasing our investment in key areas to help build stronger regions.
"This has included opening our first new regional service centre last month in Moree, designed to bring the best of our digital banking capabilities together with face-to-face support to assist with daily banking tasks and business banking needs."
The Moree service centre will be joined by new openings in Leongatha (VIC) and Smithton (TAS) in 2026. The service centres offer face-to-face support to assist with daily banking needs like ID verification, personal and business lending and fraud and scam support, with cash available through Westpac's Smart ATMs.
TRIALLING A NEW WAY TO DELIVER FACE-TO-FACE BANKING IN THE REGIONS
Westpac has also today announced it will pilot a new Community Banking Service for regional Australia. Starting in five initial towns and in partnership with local councils, the initiative will provide dedicated private spaces for mobile bankers to operate from through regular visits.
When in town, customers can visit the banker for assistance with general banking inquiries and referrals to specialist lenders.
"Personal relationships matter in regional areas, and we understand the value of sitting down across the table with someone who knows your business, your family and your goals," Miller said.
"But we're not chasing a one-size-fits-all model and we need to get the balance right.
"Approximately 96 per cent of all transactions are now completed digitally, so we need to consider how we can deliver world-class banking services that meet all needs of our customers in the regions - whether that's physically, digitally or personally."
Consultation with local councils and community organisations is underway, with the first three trial locations confirmed in Dungog, Bulahdelah and Manilla in New South Wales. The trial service will launch in early 2026.
Tamworth Regional Council General Manager, Paul Bennett, said: "Tamworth Regional Council is delighted to support this terrific community initiative by Westpac to improve access to banking services across our region. We look forward to a successful pilot and this innovative approach becoming a permanent fixture for our community."
In its submission to the Economic Reform Roundtable, Westpac put forward a range of policy proposals addressing key issues including supporting regional Australia. Recommendations included growing Australia's regional population by one million people by 2032 through targeted investment in up to ten regional cities.
"Regional Australia presents an untapped opportunity to drive the nation's prosperity," Miller added.
"While our biggest cities struggle with population growth, regional Australia is struggling to achieve the growth needed to achieve equivalent economic outputs. Targeted investment is therefore needed to build immediate momentum."
