Bank closure rumours squashed as NAB begins $2.45 million renovation and puts temporary bank in place

Rumours the Geraldton National Australia Bank branch would be permanently closing under the guise of renovations have been squashed by a shipping container adapted as a bank. The modernised way of banking has been dubbed “bank in a box” by NAB — an appropriate term for the facility built in a shipping container and trucked on to the site. The container was lifted into place at 23 Chapman Road on Monday morning, with construction starting at the branch on Tuesday. Upgrades to the branch are estimated to cost $2.45 million and will take it out of operation until late August. The upgrades are intended to ensure staff are able to assist personal and business customers. The “bank in a box” enables customers to access short-term banking solutions, have conversations with a banker and use smart ATMs for cash withdrawals. The bank poured cold water on closure rumours in April, confirming it would be reopening shop once the renovations had been completed. It comes after Bankwest announced the closure of 45 branches Statewide, including the Geraldton branch which will be permanently closed in October. The movement to digital operations has been cited as the dominant reason behind banking giants closing physical stores. Bankwest defended its decision, saying 97 per cent of its transactions were completed digitally and WA branches on average dealt with about 30 over-the-counter transactions a day.