Your personal finance questions – How much notice does my bank have to give if it is closing my nearest branch?

Q I live in a rural town and there has been a lot of rumours going around that the local bank branch could soon close. I would be seriously discommoded if this happens, as the bank’s next nearest branch is a 45-minute drive away and I don’t drive. How much notice do banks need to give if they intend to close a branch? A Currently banks must give at least two months’ notice if they intend to close, merge or move a branch, said Michael Kavanagh, CEO of the Compliance Institute.

If a bank intends to significantly change the services in a branch, then it must give at least a month’s notice, he said..