Bank Branch Closures

This morning I read about one of New Zealand's larger banks announcing plans to close up to 19 branches. One of the comments which which surprised me the most was a quote from David Tripe, banking expert at Massey University, who stated:

"In 15 years' time we might have a third of the number of branches around the country."

I find this remarkable. That it could take that long to have such little impact. Only a third? In 15 years' time?

I do almost all my banking remotely and have done for years. Email, the internet and telephone mean I very rarely have to visit a bank branch, and I resent it when I do. I do still have a cheque book somewhere, although I'm not entirely sure I could find it (that's not true, I keep it in a secure place, but you get the point). I would be happy to never set foot in a bank branch again. Why would you want to?

Once a year or so, I have to visit a bank branch, because I'm unable to complete a banking task remotely. Once the branches are all gone, the banks will have no option but to provide means for carrying out those last few remaining services remotely.

So I say bring it, and let's not wait 15 years.