Kiwibank closing two Christchurch branches as NZ Post split continues

Wednesday, 17 April 2019

Kiwibank will close two suburban Christchurch branches – in Barrington and Upper Riccarton.

They are the latest closures to be announced as the bank and New Zealand Post split their services across the country.

A Kiwibank spokeswoman said there was no timeline for the closures, rather they would stay put until NZ Post had found other stores to take postal and bill payment services.

NZ Post's strategy is to shift towards having postal service counters in supermarkets and convenience stores, rather than standalone Post Shops.

Kiwibank says bankers' habits are changing and customers do not want to queue for a bank teller behind people wanting to post packages.

Kiwibank will stay in its current locations in Hornby and The Palms when NZ Post moves elsewhere, and will set up new banks in Kaiapoi and Riccarton where it has existing branches.

NZ Post wants to stay in all six areas. The stores will continue as usual until it found businesses to help them.

Kiwibank General Manager Retail Distribution Geoff Waller said Upper Riccarton and Barrington customers would be directed to the Riccarton branch when their local branches closed.

He acknowledged the changes would be a challenge for some customers, but changing banking habits and the separation from NZ Post meant Kiwibank could no longer sustain multiple branches 'in close proximity'.

'What customers want from their bank has changed. Customers want dedicated banking staff and specialist services with private spaces for high-quality banking conversations.'

NZ Post head of retail, Mark Yagmich, said having postal services in supermarkets and convenience stores meant there were longer opening hours for customers and more foot traffic for the businesses.