ASB customers will soon identify their local branches opening a little later each day. The bank is adjusting its hours, shifting the opening time from 9:00 a.m. To 9:30 a.m. Monday through Saturday. The change, which will take effect soon, is designed to provide staff with more dedicated time for training and professional development, according to ASB.
The move comes as New Zealand banks increasingly navigate a shift in customer behavior. While physical branches remain important for some, the vast majority of banking is now conducted online. According to a recent survey by Consumer NZ, only 4 percent of customers primarily access banking services through a physical branch visit. Most customers now prefer the convenience of mobile apps and online banking platforms. This shift in preference is a key factor driving changes like ASB’s adjusted branch hours.
ASB emphasized that the new hours will not affect Sunday openings or branches with already reduced hours. “This will allow our teams more dedicated time for training and development, so that they can keep providing great support to our customers. Opening hours on Sundays and at sites that operate half-days will not change,” the bank stated. The change is intended to improve the quality of service provided by branch staff, rather than reduce access.
The Changing Landscape of Branch Banking
The decision by ASB to adjust branch hours reflects a broader trend within the banking sector. RNZ reported that Consumer NZ found nearly one in five problems experienced by customers related to branch closures or reduced hours in the past year. However, switching banks due to branch closures remains relatively low, with only 3 percent of New Zealanders changing primary banks in the last 12 months, and 15 percent of those switchers citing branch closures as the reason.
This suggests a degree of customer loyalty, or perhaps a lack of readily available alternatives, despite the inconvenience of limited branch access. Consumer NZ acknowledged that while online banking is dominant, branches still hold value for a segment of the population. “While we recognize that most people do their banking online, for some people their branch really matters,” the organization said.
Impact on Customers and Staff
The half-hour delay in opening times is likely to have a minimal impact on the majority of ASB customers who already utilize digital banking services. However, those who rely on in-person assistance may need to adjust their schedules accordingly. The bank has not specified whether the change will be accompanied by any adjustments to staffing levels.
The primary benefit of the change appears to be for ASB employees. Providing dedicated training time is seen as a way to enhance staff skills and improve customer service. In a competitive financial market, investing in employee development can be a key differentiator for banks.
Beyond Branch Hours: ASB’s Digital Push
The adjustment to branch hours is just one piece of ASB’s broader strategy to adapt to the evolving banking landscape. The bank is also in the process of phasing out cheques, a payment method that now accounts for less than 1 percent of its transactions. As reported by the New Zealand Herald, ASB General Manager of Retail Banking Craig Sims said the industry is moving away from cheques as customers increasingly adopt digital payment options. Kiwibank stopped accepting cheques in February 2024, and ACC and Inland Revenue followed suit in March 2024.
ASB has not yet announced a firm timeline for phasing out cheques, but the bank says it will provide customers with ample notice and support during the transition. This move aligns with a global trend towards digital payments, driven by factors such as convenience, security, and cost-effectiveness.
Consumer Choice and Banking Alternatives
The shift towards digital banking and reduced branch access raises questions about consumer choice and access to financial services. While online banking offers convenience for many, it can be challenging for those who lack digital literacy or reliable internet access. Banks are under increasing pressure to ensure that all customers have access to essential banking services, regardless of their technological capabilities.
For those interested in staying informed about changes in the financial sector, a weekly newsletter like Money with Susan Edmunds offers insights into the factors affecting how we make, spend, and invest.
ASB has not yet announced a specific date for the implementation of the new branch opening hours, but customers can expect further communication from the bank in the coming weeks. The bank will continue to monitor customer feedback and adjust its services as needed to meet the evolving needs of its clientele.
The next update from ASB regarding the implementation of these new branch hours is expected in early March 2026. Customers are encouraged to check the ASB website or contact their local branch for the most up-to-date information.
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