Branching out: Heritage Bank bucks digital trend with Sydney expansion

For many Aussies, stepping away from the norm proves to be a tad difficult from time to time. But it looks like Queensland-based mutual bank, Heritage Bank has no problem defying trends. 

The mutual bank has announced plans to open two new branches in Sydney later this year - one in Castle Towers in October and the other in Parramatta in December. 

This is the bank’s first move out of its home state and, when you consider the growing number of Aussies who are all for contactless payments, it’s also a move that’s going against the industry. 

“We’re excited to be bucking the industry trend by opening new branches. I firmly believe that talk about the imminent demise of physical branches is exaggerated,” said CEO, Peter Lock. 

“People still want to come into a branch and talk face-to-face with an expert about the biggest financial commitments they will make in their lives, so branches will be around for many years to come.” 

Nearly two years ago, Mozo reported on the number of big banks shutting branches across the country, with Westpac at the time closing over 60 branches, a subtle nod to an increasing digital banking uptake. 

But according to Lock, the decision to launch two branches in Sydney simply came down to putting customers first. 

“We know it’s a huge challenge, given the size of the big banks and the competitiveness of the Sydney market. But we firmly believe that the people-first focus Heritage offers will be attractive to people looking for an alternative to the profit driven banks they’ve been dealing with,” he said. 

Heritage Bank’s commitment to customers 

Adopting a “people-first” approach is no new focus for Heritage Bank, as they were recently awarded a whopping five 2019 Mozo People’s Choice Awards - awards in which winners are selected by everyday Aussies, not our expert judges.  

Excellent customer service, highly trusted and staff friendliness were just some of the categories the mutual bank won for. 

Heritage Bank are no strangers to the Mozo People’s Choice Awards either, winning at least one award every year since 2012

“It’s one thing to win over the hearts of real Aussie customers with trustworthy, friendly bank staff and customer service, but for Heritage Bank to do it consistently for a number of years - that’s impressive,” said Mozo Data Services Director AJ Duncanson.

If you’ve been thinking about becoming a Heritage Bank customer, all great banking begins with a bank account, so head on over to our bank account comparison tool to find out how the Heritage Bank bank account compares to others in the market. 

Or if you’d like to learn more about Heritage Bank’s epic award wins, head on over to the Mozo People’s Choice Award winners list page. 

Compare bank accounts - last updated 11 December 2023

Search promoted bank accounts below or do a full Mozo database search . Advertiser disclosure
  • AMP Cash Manager


    Apple Pay, Google Wallet, Samsung Pay

    0.60% p.a.

    Earn up to 4.80% p.a variable rate with AMP Cash Manager on balances from $10,001 to $250,000. Manage and access your funds while earning interest. No transaction fees to pay. Visa debit card, eftpos, and BPAY facilities. Digital wallet payments with Apple Pay, Samsung Pay or Google Pay.

  • Glide Account


    Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin

    0% p.a.

    Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.

  • Wisdom Saver Account


    Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit, Garmin

    0.05% p.a.

    IMB’s Wisdom Saver Account is a high interest transaction account available to members 55 years or over, or members who receive an eligible permanent pension. Enjoy unlimited fee free IMB transactions (T&Cs apply). Great interest rates and at-call access to your money. No monthly account keeping fees. Access to real time payments through Osko. Free Internet, Mobile, and Phone Banking.

  • Mozo Expert Choice Badge
    Everyday Options


    Apple Pay, Google Wallet, PayID

    0.01% p.a.

    An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.


^See information about the Mozo Experts Choice Bank Account Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.