Scotiabank to close branch at Carleton University this summer

Scotiabank is closing its branch at Carleton University as banking habits continue to change. CTV’s Dave Charbonneau reports.

Scotiabank is cashing out of Carleton University, closing its branch at the campus on the Ottawa university.

In a statement to CTV News Ottawa, Scotiabank said it has “made the difficult decision” to close the Carleton University branch on August 5 and relocate in-person services to its branch at 1145 Bank Street, near Belmont Avenue.

“With client preferences changing, and more day-to-day banking being done digitally, we are continuing to evolve how we serve our clients and invest in areas that make it easier for them to bank with us from wherever they are,” Scotiabank said.

“We are committed to supporting our customers, employees and communities through this transition.”

When asked if the Automated Banking Machine would remain on campus, Scotiabank said it had no further information about its services at Carleton University.

“It’s a bit annoying, I guess,” Colin Elliott, a student at Carleton University, said Monday afternoon.

“It was convenient. I spend a lot of my time here, and usually take appointments when I need to at the Scotiabank.”

Experts say the closure likely came down to numbers.

“Why this Carleton University branch? Because who it’s serving,” Ian Lee, professor at the Carleton University Sprott School of Business, said.

“Young people, who are the most digitized people in the world. So I am certain that they have data showing that there was almost nobody going into that branch. And so as a consequence, what you’ll see is more and more branch closures.”

In March, the Scotiabank branch inside Paterson Hall switched to “advice services only,” and eliminated tellers providing over-the-counter cash services, including allowing customers to deposit cash or make bill payments. The ABM machine remains at Carleton University through the spring.

The closest Scotiabank branches to Carleton University are 1145 Bank Street, 1.2 kilometres away, and 828 Bank Street, approximately 2 kilometres away.

“Carleton University is a wonderful community. It’s almost like a mini city. And having no bank on campus is going to hurt people. It’s going to inconvenience people,” Nina Karhu, Carleton University Teaching and Learning Services assistant director, said.

RBC has a branch on the campus of the University of Ottawa, called a “financial literacy centre for students.”

TD Bank

TD Bank recently closed its branch in Blackburn Hamlet.

“TD remains committed to serving our customers with a strong presence across Canada—coast to coast to coast," TD Bank Group said in a statement.

“We look forward to continuing to serve our customers at our Innes Mer Bleue branch. As always, customers can continue to access EasyLine, EasyWeb, the TD Mobile App or other branches for in-person or virtual appointments for all of their banking needs."

With files from CTV News Ottawa’s Dave Charbonneau