Bendigo Bank's agency model, which offers core day-to-day banking facilities at places such as newsagents and pharmacies, could close as more customers opt for online methods of banking.
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The change could see regional suburbs have one less way to do their banking in person.
A spokesperson for the bank said the model applied in areas of low demand.
"Bendigo Bank's agency model was established to supply limited banking services via third parties in areas where there was not enough demand to sustain a branch," the spokesperson said.
"The bank regularly reviews business and customer activity across its network so that it can invest in technology and meet the growing expectations and changing preferences of our customers and the community."
The spokesperson said the number and value of over-the-counter transactions has fallen and more customers were choosing to do their banking online.
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"The model has come under increasing pressure and has been placed under review," the spokesperson said.
"As part of this process the bank has begun reviewing agency agreements and engaging the agency principals."
The change would not affect branches.
People in areas without a branch were still able to do face-to-face banking through Bank@Post, where you could deposit cash or cheques, withdraw cash and check your account balance.
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Jonathon Magrath
Jonathon has been living and working in Bendigo since March 2021, currently working as a general reporter. Contact him on jonathon.magrath@austcommunitymedia.com.au.
Jonathon has been living and working in Bendigo since March 2021, currently working as a general reporter. Contact him on jonathon.magrath@austcommunitymedia.com.au.
