Concern that small Pacific nations may lose access to banking will be addressed at a forum starting on Monday, as China eyes ways to increase its influence in the region by filling the gap. Leaders of several Pacific nations, global financial institutions, US Treasury officials and senior banking representatives willContinue Reading
Westpac have been publicly sanctioned for the sudden closure of a branch in a remote part of the Northern Territory, leaving vulnerable customers without access to their money or banking services. The Banking Code Compliance Committee (BCCC) found the bank failed to provide customers adequate support when it suddenly closedContinue Reading
One of Australia’s biggest banks will close five more branches in two major cities as in-person banking services continue to fall off across the country. Westpac, the ASX-listed $93bn behemoth, has confirmed it will close four subsidiary Bank of Melbourne branches in Broadmeadows, Airport West, Werribee Plaza and South MorangContinue Reading
A move to a cashless society is inevitable, according to one expert, who says the change is happening more quickly than most people realise. “The convenience of digital transactions has become irresistible for consumers and businesses and has led to the sector eclipsing traditional payment methods,” RMIT University finance expertContinue Reading
Australia Post is looking at ways to support regional towns affected by ongoing small town bank branch closures. Chief executive Paul Graham told senate estimates the corporation – namely Bank at Post – was attempting to evolve to meet the needs of regional Australians, particularly in towns where the postContinue Reading
People are being forced to drive up to $200,000 in cash thousands of kilometres while vulnerable customers are handing over sensitive bank account details to library staff – that’s the dire reality facing Aussie towns with a number set to lose their last remaining bank branch. For the opal miningContinue Reading
Residents of a booming outback Queensland mining town are furious at the “disgraceful” decision by Westpac to close its branch there, amid warnings regional bank closures are reaching “crisis” levels. Cloncurry in northwestern Queensland, located 120km east of Mount Isa and 780km west of Townsville — the birthplace of theContinue Reading