Australia’s Bankwest Announces They Will Go Completely Cashless In 2024 And Shutdown Remaining Branches

Bankwest, a subsidiary of Commonwealth Bank, which is among the major players in Australia, were already making great shifts to accommodate a cashless society; and earlier this month the bank announced they would closing the remainder of their branches and focusing strictly on the digital landscape.

According to a press release published on March 6th, Bankwest said they will “transition to a digital bank in 2024, enabling it to accelerate investment in delivering simple and easy digital banking and broker services to meet the needs of more homeowners across Australia.”

Moreover, this “transition of Bankwest to a digital bank will result in the closure of 45 Bankwest branches by October, 2024,” the group added. However, as also noted by the Australian Broadcasting Corporation (ABC), another 15 branches will converted to Commonwealth Bank locations.

Bankwest says their decision rests in that “97% of all Bankwest transactions now completed digitally, and fewer than two per cent of customers visiting a branch regularly,” adding that the average number over-the-counter transactions are 30 per day, and 15 in regional Western Australia.

Bankwest Executive General Manager Jason Chan said in a statement:

I understand this will be difficult news for some of our customers and Bankwest is introducing a range of support measures to help our customers who are regular branch users carefully through this transition.

It’s critical we prioritize investment for the majority of our customers who expect leading digital and broker banking services, and rarely use branches, but we have a clear focus on the needs of our regular branch users at this time.

Looking ahead, customers will have a clear and distinct choice between CBA’s personal and business banking offering and national branch network, and Bankwest’s simple and easy digital and broker offering, focused on homeowners’ needs.

CBA has the largest branch footprint of any bank, and all regional CBA branches will be open until at least the end of 2026.

Bankwest is here to stay – our transition to a digital bank is unlocking significant investment from the CBA Group to create a world-class Bankwest offering and support our growth nationwide, powered by WA colleagues passionate about our customers.

Chan explained, noting that many of the staff affected will be retrained, and will provide new programs and agents to help affected customers make the transition to digital banking.

Bankwest had already indicated in January that they would be really pushing for strictly digital banking moving forward.

This change mainly targets elderly customers who still use cash and coin. ABC interviewed a few of these older individuals to get their thoughts on it, and they expressed great disappointment and lamented that all their physical inheritance money they intended to pass down to their children is basically worthless now. Additionally, one union representing these customers claims Bankwest is being disingenuous to their customers, claiming the banks are forcing customers to make this change rather than the depositors influencing Bankwest’s actions.

The WinePress has noted in a number reports that Australia is one of the nation’s leading the charge into a cashless society, with purportedly very few Australians even using cash all together. One economics professor told ABC last year that the country will be “functionally cashless by 2025.” Furthermore, last year the head of the Reserve Bank of Australia posited the idea of implementing a ‘cash tax,’ forcing Aussies who still transact in cash to pay an additional fee for doing so. Other Australian megabanks including Westpac, Nab, and ANZ, have also been limiting cash withdrawals and closing tellers.

---

AUTHOR COMMENTARY

The future is now and Australia is one of the larger nations spearheading this, and yet it gets zero press time in the United States and other Western nations. The media does not want the people to freak out and panic; everything has to be perfectly controlled and timed in order to ensure a mostly “seamless” transition (from their vantage point anyways).

While we are not quite there yet the mark of the beast system is clearly being framed in broad daylight.

[16] And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: [17] And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. [18] Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.

Revelation 13:16-18

Though the greedy banks are certainly to blame for influencing this rapid transition, the Aussie people brought this upon themselves. They chose “convenience” over common sense and liberty.

An inheritance may be gotten hastily at the beginning; but the end thereof shall not be blessed.

Proverbs 20:21

---

[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).

The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.

CLICK HERE TO DONATE