Just three banks remain in the entire Rangitīkei District after both Westpac and ANZ shut their Marton branches. Photo / File
Just three banks remain in the entire Rangitīkei District after both Westpac and ANZ shut their Marton branches. Photo / File
There are concerns that Rangitīkei's elderly population and small business community are being left behind, as many of the district's banks begin to reduce their hours or shut up shop.
The entire Rangitīkei district of about 16,000 people now has only three dedicated banks - a Westpac and BNZin Taihape and a Kiwibank in Marton. There is no bank in Bulls, with two ATMs serving as the town's only banking services.
Previously, Westpac and ANZ had branches in Marton, with ANZ closing last month and Westpac officially shutting its doors from Thursday, April 1. Taihape's Westpac and BNZ opted to remain open, with both reducing their hours to 10am-2pm, three days a week.
In a statement, Westpac said it was no longer viable to keep the Marton branch open, citing a reduction in customers making use of the branch.
"Over-the-counter transactions in branches have fallen by 41 per cent in Marton in the past year and have fallen 65 per cent nationally in the past four years. There are now 100 log-ins to online banking for each transaction in a branch and Covid-19 has only accelerated these trends," a spokesperson said.
Rangitīkei mayor Andy Watson said he was disappointed to see the banks pulling out, saying it would only make life more difficult for residents in the district.
Rangitīkei mayor Andy Watson said he supports the idea of a regional banking hub coming to Marton. Photo / Bevan Conley
"I accept that people have changed to use the internet as a banking service, but it doesn't help, for instance, the small retailer that is wanting to bank cash," Watson said.
Watson said he had been in touch with Westpac and ANZ to talk about the possibility of bringing a regional banking hub, where all major banks share a location, to the district.
Regional banking hubs are currently being trialled in four locations around New Zealand, including Ōpunake in Taranaki.
"I have been to see the one in Ōpunake and I've talked to the people operating it," Watson said.
"It's incredibly successful for that community and I've asked for it to be replicated in Marton.
"I am engaging with those banks and they have said they will come back to me about the possibility of an Ōpunake-type hub, but I guess it's wait and see."
Rangitīkei MP Ian McKelvie said he also had concerns surrounding the exodus of banking services, and the idea of a banking hub could be a good one for the district.
Rangitīkei MP Ian McKelvie says he has talked to both Westpac and ANZ about their move from Marton. Photo / File
"I've heard that those banking hubs are working well. I think the chances are that we'll make a bit of progress with those banking hubs, and hopefully get them into places in the district."
McKelvie said while he understood the reality of a much smaller demand for retail bank services, banks were fundamental to the community.
"[The move to internet banking] is quite a big challenge for our older community. It's also a challenge for our rural community around rural connectivity. It's very easy to find places where you certainly get no cellphone coverage and to get internet you've got to run on a satellite.
"Our small businesses also really suffer because they're handling cash on a daily basis. They've now got to courier it, so they've got a whole lot more costs."
