Scotiabank is eliminating tellers at a few of its branches, together with one at Carleton College, and switching to “recommendation companies solely.”
In a letter to clients obtained by Ontario Chronicle, Scotiabank says as of March 3, 2025, the department contained in the college’s Paterson Corridor will “now not offer over-the-counter money companies.”
That features taking out and depositing money, making invoice funds and international change money transactions.
Within the letter, Scotiabank says the change is because of the “rising development in direction of digital transactions and companies” and that the transfer will “enable us to strengthen our concentrate on serving to you attain your monetary objectives.”
One automated banking machine will stay on web site.
The closest full-service department to Carleton is situated at 828 Financial institution Avenue, a couple of 40-minute stroll away.
An indication in entrance of the Scotiabank department on the campus of Carleton College. (Katie Griffin/ Ontario Chronicle Ottawa)
It is unclear what number of branches in Ottawa are impacted and it is also unknown what number of workers are affected by the change. At the least one department in Nova Scotia can be switching to an “advice-only” department.
College students at Carleton College had combined opinions concerning the resolution on Monday. Some stated they do not actually see the necessity for tellers with on-line banking.
“I do not actually go to tellers. Normally every thing I have to do I can principally do on-line,” stated scholar Grace Whiteland.
Different college students stated they worth the in-person expertise and companies a teller offers.
“I can think about it might be tough for some people who need an in-person expertise. They wish to talk with somebody about their funds. Maybe that is likely to be much more useful with for example, any worldwide college students,” stated one other scholar, Matthew Singh.
“I believe tellers are actually helpful if you wish to change your checking account or replace statements, perhaps money a cheque,” stated Ben Evensen.”The use for tellers is required but it surely’ll be attention-grabbing to see what occurs.”
The letter states there can be no adjustments for individuals who have a security deposit field. Small enterprise and industrial clients utilizing night time deposit companies must go to a full-service location.
Ontario Chronicle has reached out to Scotiabank for remark.
A part of a wider development
Some consultants say the change is a part of a wider development in banking and different industries.
“We’ll have much less branches…that is insurance coverage firm branches, much less financial institution branches, much less put up workplace branches as a result of something informational could be carried out digitally on-line,” stated Ian Lee, affiliate professor on the Sprott Faculty of Enterprise at Carleton College. Lee additionally labored at a financial institution for 9 years.
“And so that is the development we’re witnessing. It should be a basic restructuring of the society when it comes to employment.”
This story can be up to date
