Residents shocked at BNZ closure after 134 years in the community

Friday, 20 November 2020

The BNZ branch in Tākaka will close, along with 38 others nationwide, between April and June 2021.

Residents and businesses are shocked the Bank of New Zealand in Tākaka will close after 134 years serving the community.

BNZ has announced it will close 38 branches over the next seven months, with the Tākaka branch closing between April and June next year.

As banks retreat from small-town New Zealand on the back of advances in digital transactions and apps, elderly are being left anxious and feeling alone, unable to adapt.

Golden Bay businesses that bank with BNZ are frustrated they will be forced to change banks to continue dealing in cash.

**READ MORE:

* BNZ to close 38 bank branches

* ASB set to close another 23 branches as customers move online

National Grey Power treasurer Roy Reid said the closure of banks in rural New Zealand, and the move to stop using cheques next year, were creating more hardship for elderly right across the country.

* Golden Bay kids kicked-off bus face precarious walk along grassy highway to school

BNZ was Golden Bay’s first bank and was established in 1884.

The closure will mean Golden Bay will be left with only two banks – the Nelson Building Society (NBS), and Kiwibank, which runs out of New Zealand Post, but does not offer all banking services.

Many elderly in Golden Bay don’t know how to use a computer, let alone use internet banking or a smartphone app, says Grey Power treasurer Roy Reid.

Tākaka's Westpac branch closed in 2016, as part of 16 nationwide closures.

BNZ customer Jasmine Polglase was unhappy at the closure, but was more concerned for her grandparents, who banked with the BNZ.

“They don’t have a computer, like many elderly. But unlike my grandparents, some here don’t have family to do banking for them and help them navigate that sort of thing.”

Grey Power Golden Bay treasurer Roy Reid said half of its 300 members did not have an email address.

They did not know how to use a computer, “let alone” use internet banking or a smartphone app.

The elderly often dealt in cash and cheques, and some had never used Eftpos. Others had trouble using an ATM, Reid said.

With banks moving to also stop using cheques nationwide next year it was “creating more hardship” for elderly right across New Zealand, he said.

Cheryl Elsey, chairwoman of the Golden Bay Promotions Associations, said it was “hugely disappointing” the community would lose another bank.

“I believe a huge number of small to medium businesses have a cash component that is an important element of their business,” she said.

“People should be able to choose how they wish to pay for goods and services, and not be forced into one or the other.”

It was “small things” like banking coins or requiring change that would be hard to do.

Elsey said it was also “very sad” that five local staff could lose their jobs.