Member for Mallee Anne Webster has called on the banking sector to place a moratorium on closures until recommendations of the Regional Banking Taskforce have been implemented in the wake of another Mallee bank branch closing down.

Last week Westpac announced it would shut its Robinvale branch, following news late last year ANZ would do the same in May.

Dr Webster brought the Australian Banking Association (ABA) to Mallee in 2022 for a public forum hosted by the taskforce, with the ABA endorsing the subsequent recommendations put to them.

“The recommendations to review and strengthen the ABA’s Branch Closure Protocol and implement Branch Closure Impact assessments were due to be in place by mid-2023,” Dr Webster said.

“These Impact Assessments should provide a transparent impact report for any closure of regional banks.  The Bank had to engage with customers, local government and other stakeholders.”

The taskforce recommended the ABA to:

• Promote and support Bank@Post services
• Maintain access to cash
• Improve support for regional consumers experiencing vulnerability
• Continue to support and improve digital connectivity and literacy in regional areas

“The big banks need to justify why they are leaving their regional customers out in the cold,” Dr Webster said.

“There has been 86 bank closures since the recommendations were tabled -it seems the banks are eager to close down these regional branches before implementing the impact reports which they endorsed.

“Their customers deserve better, maybe it is time these customers took their business elsewhere to send these big banks a message.”