Major cash change for big four bank

Westpac chief executive Peter King says cash will be more readily available nationwide. Picture: NCA NewsWire / Nicki Connolly
Westpac chief executive Peter King says cash will be more readily available nationwide. Picture: NCA NewsWire / Nicki Connolly

More Westpac customers will have easier access to their money as bank branches expand their cash transaction options across the country.

The big four bank announced that customers would be able to visit any Westpac, St George, BankSA or Bank of Melbourne branch across Australia for their cash transactions, including withdrawals, deposits and transfers.

Chief executive Peter King said the expansion was part of the bank’s new technology installed to allow better access across all branches nationwide.

Westpac Chairman John McFarlane and CEO Peter King
Westpac chief executive Peter King says cash will be more readily available nationwide. Picture: NCA NewsWire / Nicki Connolly

“This is part of our broader strategy to provide our customers, including in rural and regional Australia, greater access to banking services through investing in technology, digital services such as our mobile app and video banking, branch footprint and key partnerships,” Mr King said.

Westpac is expanding access to its banking services with a major technology upgrade that will enable customers to use any branch across the group’s brands for cash transactions.

With the rollout, St George, BankSA and Bank of Melbourne customers will be able to make transactions at any Westpac branch, and vice versa.

The bank announced more than 80 co-locations have opened across Australia since 2021.

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Customers will be able to walk into any branch to make cash withdrawals. Picture: NCA NewsWire / David Swift

All ATMs and coin deposit machines will also be available for use by customers across all brands.

“Our customers are now doing their banking across multiple channels, so we’ve created a more connected branch network to make it easier for them to bank with us no matter which of our brands they choose,” Westpac Group consumer chief executive Jason Yetton said.

“We know many small businesses and sole operators also need access to cash to do business, and this change means it will now be even easier for them to visit one of our branches for essential tasks like deposits, withdrawals and transfers.”

BankSA customers will now have access to 488 additional banking locations across Australia, including 15 Westpac branches in South Australia, while Westpac customers will have access to 53 BankSA branches in South Australia.

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Westpac customers will have better access. Picture: NCA NewsWire / Morgan Sette

The move comes after two competing banks announced major changes to cash transactions.

Commonwealth Bank will no longer offer cash over the counter at a number of branches as the major bank shifts to “specialist centres” that support customers with “more complex banking needs”.

ANZ also scrapped over-the-counter cash transactions in some branches earlier this year.