A 2024 survey conducted in regional NSW, shows the value that locals put on having a physical bank branch and face-to-face banking services.
The results show:
- Maintaining a strong physical presence is seen as critical to safeguarding the financial wellbeing of regional Australians.
- Communities place the greatest value on bank branches for essential tasks such as fraud prevention, large cash withdrawals, and resolving complex financial matters like estate management. Access to trained staff for personalised support is seen as irreplaceable.
- Communities fear closures will erode trust and security, particularly for older Australians, those with limited digital literacy, and small business owners.
