Ranfurly reeling at Westpac's closure

Ranfurly reeling at Westpac's closure

Residents of the small central Otago town of Ranfurly say they're feeling deserted by Westpac's confirmation it will close the town's only bank.

The bank is one of 19 branches around the country which Westpac earmarked for closure last month citing a change in banking practises by its customers as the reason for the closures.

Central Otago mayor Tony Lepper says "the decision is a kick in the guts for rural New Zealand" and has left the town's 700 residents "gutted."

Mr Lepper says he understands Westpac is considering leaving a cash machine in the town, which would be welcomed given travelling to the nearest bank will now require a two-hour round trip.

Newshub.