Scotiabank to eliminate tellers at some branches, including Carleton University

Scotiabank cutting tellers Scotiabank has announced it won't have tellers at some branches, including the one at Carleton University. CTV's Katie Griffin reports.

Scotiabank is eliminating tellers at some of its branches, including one at Carleton University, and switching to "advice services only."

In a letter to customers obtained by CTV News, Scotiabank says as of March 3, 2025, the branch inside the university's Paterson Hall will "no longer be offering over-the-counter cash services."

That includes taking out and depositing cash, making bill payments and foreign exchange cash transactions.

In the letter, Scotiabank says the change is due to the "increasing trend towards digital transactions and services" and that the move will "allow us to strengthen our focus on helping you reach your financial goals."

One automated banking machine will remain on site.

The closest full-service branch to Carleton is located at 828 Bank Street, about a 40-minute walk away.

It's unclear how many branches in Ottawa are impacted and it's also unknown how many employees are affected by the change. At least one branch in Nova Scotia is also switching to an "advice-only" branch.

Students at Carleton University had mixed opinions about the decision on Monday. Some said they don't really see the need for tellers with online banking.

"I don't really go to tellers. Usually everything I need to do I can mostly do online," said student Grace Whiteland.

Other students said they value the in-person experience and services a teller provides.

"I can imagine it could be difficult for some people that want an in-person experience. They want to communicate with someone about their finances. Perhaps that might be even more beneficial with let's say, any international students," said another student, Matthew Singh.

"I think tellers are really useful if you want to change your bank account or update statements, maybe cash a cheque," said Ben Evensen."The use for tellers is needed but it'll be interesting to see what happens."

The letter states there will be no changes for those who have a safety deposit box. Small business and commercial customers using night deposit services will have to visit a full-service location.

Scotiabank did not say how many branches would be impacted and what might happen to affected employees.

"As a business, we continuously look at ways to innovate our services and better meet the evolving needs of our clients," Scotiabank said in a statement.

"As part of this evolution, we have adjusted the services offered at select branch locations to focus on advice services only, which includes financial advisor meetings, Small Business advisor services, support with online banking, and more."

Advice-focused branches will also be equipped with enhanced ABM's, the bank says, offering "multi-denominational bills and USD currency."

"Our advice focused branches are designed to help our clients reach their financial goals and work in collaboration with our full service branch locations. Our full service branches will continue to offer cash withdrawal, deposit and foreign exchange cash transactions, as will our automated banking machines (ABMs)."

Part of a wider trend

Some experts say the change is part of a wider trend in banking and other industries.

"We'll have less branches…that's insurance company branches, less bank branches, less post office branches because anything informational can be conducted digitally online," said Ian Lee, associate professor at the Sprott School of Business at Carleton University. Lee also worked at a bank for nine years.

"And so this is the trend we're witnessing. It's going to be a fundamental restructuring of the society in terms of employment."

This story will be updated