Regional banking task force to look at impact of bank closures on regional communities
3 years, 4 months ago

Regional banking task force to look at impact of bank closures on regional communities

ABC  

It is 9am at the local newsagency in the quiet northern Victorian town of Mooroopna, and the air is buzzing with the news the local National Australia Bank branch, just a few doors down, is set to close its doors on January 20. Key points: A growing number of regional bank branches are closing due to downturns in foot traffic The federal government has established a regional banking taskforce to address this The taskforce will assess the impacts of branch closures on regional communities, and generate solutions NAB says it is because an increasing number of people are banking digitally. Regional banking task force searches for solutions Mooroopna is just one of many regional Australian communities reeling from yet another bank branch closure. The federal government has just established a regional banking task force to assess the impact branch closures are having on regional communities. Bank branch closures impact town liveability Access to bank branches is vital, particularly for residents unable to use online services.

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History of this topic

Bank customers could end up footing the bill to keep regional branches alive, analysts warn
3 months, 3 weeks ago

Bank customers could end up footing the bill to keep regional branches alive, analysts warn

ABC  

Bank customers could end up footing the bill to keep regional branches alive, amid secret negotiations between banks and the government. Treasurer Jim Chalmers confirmed negotiations were underway, saying "it shouldn't surprise people" that the government regularly speaks with banks to find solutions, but that no conclusion had been reached. No guarantee customers will pay While there's no guarantee banks …

Bank closures in regional Australia final report calls for guaranteed cash access, establishing a public bank
10 months ago

Bank closures in regional Australia final report calls for guaranteed cash access, establishing a public bank

ABC  

In short: A federal inquiry has delivered its final report after investigating the impact of bank closures in regional Australia. A Senate committee's final report looking at the impact of bank closures in regional communities says Australians will continue to "pay the price" if regulations are not changed to limit branch closures. "The objective of the RCBBP would be to …

Hundreds more regional bank branches 'at risk' of closing as banks attempt to balance in-person and digital demand
1 year, 5 months ago

Hundreds more regional bank branches 'at risk' of closing as banks attempt to balance in-person and digital demand

ABC  

More than 450 bank branches in regional areas are "at risk" of closing due to their smaller population size, despite having fewer accessible locations for physical banking services, new analysis suggests. Key points: Analysis by AreaSearch has identified up to 454 regional banks are at risk of closure due to the small population they service Both banks and researchers say …

Regional bank closures 'disastrous' for small towns, federal inquiry hears
1 year, 6 months ago

Regional bank closures 'disastrous' for small towns, federal inquiry hears

ABC  

Regional bank closures are "ripping the heart out of country towns", according to the chair of a federal inquiry. Key points: Senator Matt Canavan says the inquiry will examine solutions to the issue The inquiry heard that elderly people in particular are concerned about doing their banking online A social worker says those with no choice but to travel to …

Mass exodus of regional bank branches across Australia leaves residents seeking solutions
1 year, 10 months ago

Mass exodus of regional bank branches across Australia leaves residents seeking solutions

ABC  

Janessa Bidgood runs an annual event in her rural town that makes over $500,000 and contributes hundreds of thousands of tourism dollars to the wider community. Public banking The idea of a government-owned bank was tabled during the senate inquiry into bank closures in regional Australia, and has since been backed by Liberal Party senator Gerard Rennick. "The banks, they're …

Regional communities fight to keep local banking services amid growing number of branch closures
1 year, 11 months ago

Regional communities fight to keep local banking services amid growing number of branch closures

ABC  

There is growing frustration over the planned withdrawal of banking facilities from small regional communities, as customers concerned about potential knock-on effects fight to keep services open. Key points: More than 200 people have rallied against the closure of Bendigo Bank agencies Communities in north-west Victoria have signed a petition to save the ANZ Bank in Robinvale Customers are threatening …

A third of the nation's bank branches have shut in the past five years — for people in the country, that's a huge problem
2 years ago

A third of the nation's bank branches have shut in the past five years — for people in the country, that's a huge problem

ABC  

Newsagent Ray Burgess is a good customer for a bank, he just cannot find one. Key points: Over the past five years, 30 per cent of Australia's bank branches have shut Banks claim more transactions are happening online, fewer in branches A Senate inquiry into the impact of regional bank branch closures is holding a hearing in Gippsland To run …

Parliamentary inquiry into regional banking to be held as branch closures continue
2 years, 1 month ago

Parliamentary inquiry into regional banking to be held as branch closures continue

ABC  

A parliamentary inquiry into regional bank closures will be held by the Senate, following the termination of hundreds of branches across the country. Key points: The federal Senate will hold an inquiry into regional bank closures, with findings to be delivered in December More than 80 branches around the country have closed since September 2022, when a taskforce report was …

Australian towns are fighting to hold on to their bank branches, as government flags review of replacement services
2 years, 3 months ago

Australian towns are fighting to hold on to their bank branches, as government flags review of replacement services

ABC  

George Fowler remembers walking into the Carnamah bank for the first time 80 years ago. Key points: In the past five years, the number of bank branches has dropped 30 per cent ATM numbers have also been declining The closures are forcing some regional customers to travel an hour or more to the next available bank branch "My father gave …

Regional communities call for disbanded banking task force to continue work
2 years, 6 months ago

Regional communities call for disbanded banking task force to continue work

ABC  

A task force established to investigate the impact of bank branch closures on regional communities has been disbanded before it was able to release its final report. Key points: Regional communities are no closer to finding alternative banking solutions after the disbanding of a banking task force The task force was unable to release its final report, which outlined how …

Internet banking: Rural communities left floundering as regional banks close their doors
6 years, 11 months ago

Internet banking: Rural communities left floundering as regional banks close their doors

ABC  

The big banks are leaving regional Australia in droves and rural communities are paying the price. Ms Stevens is worried ANZ's Biloela branch — about 50 minutes' drive from Moura — will close next and then she'll have no option but going into Rockhampton, two hours away. Bank closure driving business away from struggling town Business in Moura is struggling …

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