My first bank account was with the State Bank of Victoria. I opened it when I was in Prep in 1969.  Here it is, in Gray Street, Hamilton.  On the right of the photo.

The SBV was bought by the Commonwealth Bank in 1990.

Today I walked into the Commonwealth Bank in Cheltenham and closed 2 accounts, thereby ending my long association with the bank.

The branch is your modern looking bank.  All gleaming and welcoming.  There’s a little foyer where the ATMs are and a concierge desk with two computer screens and a smiling face of a very nice man asking if he could help me.  Above him is the current bank promotion, the Dollarmites Club.  I signed my kids up for Dollarmites when they were in school.  It was how I was introduced to banking, taking my passbook along to school on banking day and depositing 20 cents.  Some at the Commonwealth Bank used the Dollarmites system to gain personal financial advantage.

The staff were very helpful, the process took longer than necessary I thought. The nice man asked me what I was going to do with my mortgage, I snorted and said I didn’t have one!

Anyway, he asked where I was moving my banking. Bank Australia I said. He then told me that he has only ever seen one branch for them, and he’s lucky to have seen one. Bank Australia has few branches, they use online and Australia Post. In fact, this was the first time in some years that I’d actually walked into a branch to conduct business.

At the end of the process, he looked at his screen and looked at me and remarked that I’d been with the bank for 33 years. Longer, I replied, I was also with the State Bank. He then asked the burning question, “Why are you leaving after all this time?”

The reasons are complex, and for some strange brain functioning on my part, it really is something that should have happened years ago.

Australians rarely change banks. Probably because it’s just too hard. It is quite the process. I needed to firstly open a new account at a new bank and then move each of my direct debits, automatic payments and various payment methods to the new bank.

My children and I all had Commonwealth Bank accounts, this was to allow the quick transfer of money. I’ve often said that the only time I hear from my children is when they want money.

These days with the introduction of PayID transferring money between banks happens within minutes. The old days, you know, a couple of months ago, saw your money disappear from your account and be caught up in some holding pattern before landing in another banks account.

The real clincher for me, however, was the banking royal commission.

This is what I told my new teller friend. I wanted a bank that had some ethical standards, who saw me as a member and not simply an account holder.

The Commonwealth Bank has been embroiled in scandal after scandal.  Each of the big banks has been.  They continue to reap the rewards of huge profits despite their proven fraudulent behaviour.

Bank Australia is the place to be for now.

In all my years at the Commonwealth, they have never given regard to my loyalty.  Without question, I fronted up to them for personal loans, a housing loan, credit cards, savings accounts and so on.  The most I ever got out of them was an unattractive interest rate and a computer mouse.

Yes, they once sent me a mouse for being a loyal customer.  Back in the 2000s.  I wrote to them and said I’d prefer money in the bank next time they wanted to reward my loyalty.  I never got a response.

So, the loyalty has been one way.  Action needed!  So, off I went.

What’s holding you back?