Bank branches and ATMs disappearing at rapid rate

More than 120 bank branches have shut down in Victoria over the past three years, according to new figures.

And more than 800 ATMs have been ripped out.

Adjunct Professor Steve Worthington, who specialises in financial services and payments at Swinburne University, told Neil Mitchell it was a simple cost-cutting exercise.

“There are just less and less customers,” he said.

“We are using less and less cash, so they’re responding to that.”

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