Australian Banking Association defends branch closures
The big banks are trimming services across the country, which has left some customers unable to easily access their money.
261 branches Australia wide have closed and hundreds of ATMs have been ripped out.
Australian Banking Association CEO Anna Bligh insists customers are being given better access to banking services.
“They are transitioning from physical branch activity into a raft of alternative for customers,” she said.
“If anything the range of services has increased.
“What we are also seeing is a very significant and dramatic decline in the use of cash by Australians.
Australia Post now offers in-person banking, but fees apply on a number of transactions.
“Australia Post in every single outlet you can withdraw cash, you can deposit a cheque, you can cash a cheque, you can make a deposit of cash.”
Press PLAY to hear more abut the decline in the use of cash
(Photo: iStock by Getty Images.)