400 banks gone. 700 ATMs gone. ‘Cash Welcome Campaign’ fights back!
Luke is joined by Jason Bryce, spokesperson for the Cash Welcome campaign, following the financial regulator APRA yesterday reporting that Australia lost another 424 bank branches in the last 12 months.
Banks also closed or removed a further 718 bank-owned ATMs. Mr Bryce highlights that this is further restricting access to cash and full banking services, despite the continuing inquiry into bank branch closures by the senate’s Rural and Regional Affairs Committee and the treasury’s Modernising Payment Systems process.
It is worth noting that some banks made explicit promises to stop closing branches while the senate committee’s process was underway.
Mr. Bryce emphasises, “Australians don’t want to lose access to cash or their right to choose cash to pay for essential goods and services.”
“Banks enjoy a central place at the heart of our economy and money system. Banks need to serve their customers and ensure that all communities have ready access to cash.”
More than 120,000 Australians have signed Mr Bryce’s petition calling for a cash and banking guarantee.
You can add your voice here: https://www.change.org/BankingAndCashGuarantee
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