Machines to replace tellers at ANZ Bank branch in Neutral Bay. Find out what it means for you.

By ANNA USHER

ANZ customers in Neutral Bay are facing significant changes, with over-the-counter transactions about to be scrapped.

From 9:30am on June 3, users will instead be directed to machines for cash and cheque deposits and withdrawals.

Existing clients were sent an email on Wednesday, saying the branch at 218 Military Rd would be made into a “Specialist Hub”.

“You’ll still be able to talk to us about your banking needs, including home loans and business accounts,” the email said. “You can continue to use our online booking tools to make your appointment in advance. Please note: deposits and withdrawals will no longer be able to be made over the counter.”

In a statement provided to Mosman Collective, ANZ District Manager Sheena Gonsalves said personalised support would be provided to Neutral Bay customers, despite around 99% of transactions performed digitally or via an ATM.

“Over the last five years, we’ve been changing our branch network, so customers continue to have access to a range of different branch types for both their big and everyday banking needs,” she said.

“Our new Specialist Hubs are fully staffed, and our teams are there to speak with customers about their banking needs. This includes account queries and new product enquiries, such as credit card, personal or home loan applications or help with business accounts.

“Staff can also help customers to use the two Smart ATMs, coin deposit machine, and Fast Deposit Drop Box for any cash deposit or withdrawal requirements.”

The changes to Neutral Bay’s branch come after ANZ’s half-year results revealed a 7 per cent slide in cash profit to $3.55 billion.

ANZ’s retail arm, which writes the bank’s home loans and holds most of its deposits, booked a fall in cash profits of 9 per cent to $794m for the first half.

Chief executive Shayne Elliott told The Australian the bank had to contain costs, with ANZ facing a mounting wage bill from its almost 40,000 staff.

Mr Elliott said ANZ didn’t have power over pricing on its operational costs, noting “the 10 odd billion dollars it costs to run the bank, we don’t get to pass that on”, while defending the bank’s $3.5bn interim profits.

“These are not super profits. We are holding our head above water,” he said this week.

Over the past few years, Neutral Bay has felt the heavy loss of bank branches, including the Commonwealth, Suncorp, Westpac and NAB.