BALMORAL is set to lose its NAB branch as the bank announced its planned closure in just over two months.

NAB retail customer executive, Nicholas Faulkner said that declining numbers of customers in conjunction with the increase of digital banking had forced them to make the decision.

“Increasingly customers are banking digitally, with more than 93 per cent of customer interactions now taking place over the phone, by video or online,” he said.

“We also understand that COVID has changed the world in many ways, including how many of our customers bank with us.

“Our investment in our services and locations is guided by how customers are banking – through digital channels, with mobile bankers or at a branch.

“The number of customers using the branch continues to decline, with almost half of our Balmoral customers having only visited the branch once in the past year.

“We understand the importance of bankers to regional and rural communities like Balmoral and we will continue to support customers with their banking needs.”

Mr Faulkner said NAB would do its best to assist customers in adjusting.

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