Despite numerous inquiries and recommendations, including the appointment of a Regional Banking Taskforce, there is currently no support to help regional banks provide essential infrastructure and services to people in regional, rural and remote communities. This disadvantages people who live and work in these communities including older Australians, people living with disabilities, First Nations communities and small businesses.
We believe that banks have a community service obligation to properly service their customers, regardless of where they live.
The Regional Banking Investment Alliance includes a group of 24 regional banks and supporters, fighting for their local communities to ensure that face-to-face banking continues sustainably into the future.
Thank you to the following groups for their support for banks cost sharing to fulfil their community service obligations.
Show you care about regional banking by joining our list of supporters.
Face-to-face banking services are essential for all Australians. Small communities and regional centres often rely upon and trust local banks who are members of their community, know their customers, and provide a range secure banking services.
Bank branches are there for the person who needs advice about a specific scam, the football club who needs a cash float for the weekend game, agribusiness advice, loan advice, helping your child or teen open their very first bank account, accessing or depositing larger cash amounts, club sponsorships, and employment opportunities.
With the greater threat of natural disasters and cybersecurity threats, bank branches can provide certainty during digital outages.
They also provide services that online, Bank@Post and ATMs cannot.
|
Service Offerings
|
Branch
|
Bank@Post
|
ATM
|
|---|---|---|---|
|
Withdraw (W) + Deposit (D) cash
|
Yes
|
Yes – but limited in both
|
Yes – but limited in both
|
|
Check acc details and credit card payment
|
Yes
|
Only with card present
|
Only with card present
|
|
Deposit cheques
|
Yes
|
Selective, also confusing as Australia Post as a business do not accept cheques
|
No
|
|
Change for business floats
|
Yes
|
Limited, franchisee choice
|
No
|
|
Open and close savings accounts
|
Yes
|
No
|
No
|
|
Apply for loan/ loan advice
|
Yes
|
No
|
No
|
|
Small business/ agribusiness banking advice
|
Yes
|
No
|
No
|
|
Card activation, Lock card / report stolen
|
Yes
|
No
|
No
|
|
Set or change pin
|
Yes
|
No
|
Yes
|
|
Account problem solving
|
Yes
|
No
|
No
|
|
Scams advice
|
Yes
|
Not specific
|
No
|
|
Enhanced security
|
Yes
|
No
|
No
|
|
Power of Attorney transactions
|
Yes
|
No
|
No
|
|
Passbook transactions
|
Yes
|
Limited to 2 banks
|
No
|
|
Access to term deposits
|
Yes
|
No
|
No
|
|
Financial Inclusion Action Plan
|
Yes
|
No
|
No
|
|
Banking expertise
|
Yes
|
No
|
No
|
We want the Government to introduce a cost sharing model to support regional bank branches which provide communities with essential services
The recipients of the cost sharing model would have only one characteristic – a commitment to invest in regional, rural and remote face-to-face banking services. All banks will have an equal ability to be a recipient, as long as they exceed this basic regional branch investment threshold.
This would ensure big banks whose regional branch investment falls short of the industry average, continue to support regional communities either directly though their own regional branch network, or via the cost sharing model.
Importantly, no public funding would be required.
