Customers of the Commonwealth Bank Sebastopol branch have been notified the location will be shutting its doors to help "better serve those most in need over the phone."
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Staff at the branch are set to be trained and moved to CBA call centres and online support teams.
The notification also stated the branch may be closed for up to six months, however a CBA spokesperson said this period was subject to change as the COVID-19 pandemic evolves.
"We've had a huge volume increase in customers calling and contacting us online for COVID-related financial assistance over the past 6 weeks or so," they said.
"Since the pandemic was declared in early March, we have received more than one million calls and online requests for help.
Calls to our hardship line have increased by 800 per cent compared to the period before the pandemic.
- A Commonwealth Bank spokesperson.
"Over the same period, visits by customers to bank branches have fallen more than 50 per cent in some branches as people follow social distancing and lockdown requirements.
"Transaction volumes in branches have dropped significantly as a result while there has been a large increase in customers doing their banking online through Netbank and the CommBank App.
"The timeline for reopening is subject to change, and we will continue to monitor the environment, customer demand etc."
The spokesperson added customers in need of face-to-face assistance with matters such as logging passbooks and dealing with cheques are suggested to go to an Australia Post outlet, one of which is less than 200 metres from the closing branch.
The closure comes just over 12 months since both the Creswick and Bridge Mall CBA branches were shut.
CBA said that transactions at the Creswick branch had dropped 36 per cent over the last five years, citing customers flocking to online and phone banking services. A similar decline was felt at the Bridge Mall location, 32 per cent drop in transactions over the same period.
CBA confirmed the Sebastopol branch would be the only location in the region to shut its doors, adding the Ballarat, Ballarat West and Wendouree branches would remain open during the pandemic.
The ATM outside of the Sebastopol branch will continue to operate as normal.
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