BNZ university branch closing

The BNZ is closing its University of Otago branch in Albany St, Dunedin.

In a statement, the bank said it was working with three affected staff on redeployment and redundancy options.

Staff were told yesterday the branch would close on December 13.

BNZ retail regional manager Robyn McKinnel said declining transactions and the use of digital banking prompted the decision.

''A BNZ ATM will remain at the University of Otago site,'' she said.

First Union retail and finance national organiser Tali Williams said banks cited the rise of digital banking whenever they closed an outlet, but that often conflicted with the experience of bank workers.

''What we know from our members is that there are still people streaming through the door.''

Miss Williams said the BNZ should find new roles for affected staff.

''There's no reason for a bank with the profits of BNZ to be making people redundant when people need jobs.

''We are increasingly seeing closures of branches across the country and it is a troubling trend,'' she said.

Comments

"declining transactions and the use of digital banking prompted the decision"

Of course this is happening because the banks started charging over the counter fees in order to achieve this exact outcome.
Step 1 - Remove the gold standard
Step 2 - Fractional lending allowing banks to lend out deposits multiple times and gain interest on each dollar each time
Step 3 - Create money from nothing
Step 4 - Eliminate as many brick and mortar facilities as possible, and eliminate staff
Result - They create money out of nothing with automated online banking where the customer does all the banks' work for them while being charged for the privilege and receiving very little interest for their deposits, while the banks gets multiple interest returns on each dollar with very few overheads.

 

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