Australian Politics Forum - Stop Closing Down Our Bank Branches

whiteknight

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Stop Closing Down Our Bank Branches
Mar 21^st, 2024 at 4:47am

Finance Sector Union campaign to save bank branches
March 19 2024
Finance Sector Union
Banks

The Finance Sector Union (FSU) has launched a petition seeking action from Financial Services Minister Stephen Jones to address the closure of bank branches and safeguard the interests of finance workers and the community.

The major banks have been ruthlessly closing branches in metropolitan and regional areas, with the Big Four shutting more than 1400 branches in recent years. Sad

FSU National President Wendy Streets said the FSU is calling on Mr Jones to protect Australia’s banking system by declaring banking an essential service, instigate an industry code and compel banks to provide a genuine rationale for closing branches.

“Declaring banks an essential service would also include community service obligations, especially in remote and regional Australia,” Ms Streets said.

“The banks have disadvantaged thousands of customers by seeking to push them into digital banking instead of using branches.”

“Finance workers have also borne the brunt of the banks’ push for more profits.”

“We believe the banks should be required to conduct community impact assessment to expose the real impact of closing a branch.”

The FSU is seeking intervention from Minister Stephen Jones to save bank branches and hold the banks accountable.

“Bankwest ruthlessly dumped its branch network without consulting customers all in the name of generating greater profits.”

“It’s time to stop this relentless slashing of branches and jobs.”

“The banks have failed their staff and customers by cutting deep into their branch network to reduce costs.”

“The Senate Inquiry into regional branch closures has revealed the impact of the banks deserting regional areas.”

“After more than twelve months of hearings and hundreds of submissions, we are calling on the Minister to take positive steps to stop the steady reduction of banks being available to regional customers.”

“We are urging people who want to save their bank branches to sign our petition to Financial Services Minister Stephen Jones to send him a strong message that enough is enough and he must take action before it’s too late.”

The FSU petition can be found here: https://fsu.org.au/SaveOurLocalBanks

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Bobby. Gold Member Online Australian Politics Posts: 95623 Melbourne Gender:	Re: Stop Closing Down Our Bank Branches Reply #1 - Mar 21^st, 2024 at 5:12am hear hear sir brave Crook, The Banks make $billions in profits - you'd think that keeping branches open is just pocket money for them? Also - an open branch is great for business - customers can enter and discuss their next home loan or fixed deposit and sign up.
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whiteknight Gold Member Offline Australian Politics Posts: 7648 melbourne Gender:	Re: Stop Closing Down Our Bank Branches Reply #2 - Mar 21^st, 2024 at 5:26am Well said Bobby, how right you are. They have closed far too many bank branches. Time to open some new ones.
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AusGeoff

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Sage of Gippsland

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Re: Stop Closing Down Our Bank Branches
Reply #3 - Mar 21^st, 2024 at 8:36am

In our town, the Commonwealth bank, the National, and the ANZ
have all closed their branches over the past three years.

Bank profits for last year (2023):

CommBank $10.2 billion.

NAB $7.7 billion.

ANZ $7.4 billion.

Westpac $7.2 billion.

The Commonwealth bank was founded in 1911 by the Federal
government as the "people's bank", until it was privatised by
Keating in 1991.

For the past decade, Australia's big four banks have been leading
lenders to the massive expansion in coal and gas shipments through
the Great Barrier Reef, contradicting their own pledges to curb carbon
emissions and preserve sensitive environmental areas. CommBank
meanwhile, highlighted its achievement to cut carbon emissions from
operations by 35,000 tonnes in 2012. A single bulk carrier shipment of
coal exported from Australia would result in final emissions of four
times those savings.

Angry

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John Smith

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Re: Stop Closing Down Our Bank Branches
Reply #4 - Mar 21^st, 2024 at 12:19pm

The banks will continue to close branches irrespective of how much people complain, or how many petitions they sign. There's far to much money to be made in closing them down and forcing you to go digital.

Commonwealth Bank has already announced that it's closing all it's 'BankWest' branches and moving to digital only.

The only hope the public has is to give Australia Post a full banking license. Then maybe the public will be listened too.

It might also help stop the collusion between banks when they all raise interest rates irrespective of what the reserve bank does.

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #5 - Mar 21^st, 2024 at 12:26pm

John Smith wrote on Mar 21^st, 2024 at 12:19pm:

The banks will continue to close branches irrespective of how much people complain, or how many petitions they sign. There's far to much money to be made in closing them down and forcing you to go digital.

Commonwealth Bank has already announced that it's closing all it's 'BankWest' branches and moving to digital only.

The only hope the public has is to give Australia Post a full banking license. Then maybe the public will be listened too.

It might also help stop the collusion between banks when they all raise interest rates irrespective of what the reserve bank does.

Yep. Ultimately all suburban branches of all banks will be closed.

But customers are also to 'blame'. As Australians abandon cash and the need for face-to-face interaction with banks, what business could justify keeping an entire branch running with only a few customers per day?

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John Smith

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Re: Stop Closing Down Our Bank Branches
Reply #6 - Mar 21^st, 2024 at 3:41pm

MeisterEckhart wrote on Mar 21^st, 2024 at 12:26pm:

John Smith wrote on Mar 21^st, 2024 at 12:19pm:

The banks will continue to close branches irrespective of how much people complain, or how many petitions they sign. There's far to much money to be made in closing them down and forcing you to go digital.

Commonwealth Bank has already announced that it's closing all it's 'BankWest' branches and moving to digital only.

The only hope the public has is to give Australia Post a full banking license. Then maybe the public will be listened too.

It might also help stop the collusion between banks when they all raise interest rates irrespective of what the reserve bank does.

Yep. Ultimately all suburban branches of all banks will be closed.

But customers are also to 'blame'. As Australians abandon cash and the need for face-to-face interaction with banks, what business could justify keeping an entire branch running with only a few customers per day?

A few customers a day? The comm bank in my town shuts at 1. From 9 till 1 the queue is almost always out the door. The nab used to be open until 5, with queues often out the door and still they closed the branch down. Banks don't care how many customers. Look at ANZ, even if you can find a branch it's often cashless. It's certainly not because their customers want it that way.

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #7 - Mar 21^st, 2024 at 3:44pm

John Smith wrote on Mar 21^st, 2024 at 3:41pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 12:26pm:

John Smith wrote on Mar 21^st, 2024 at 12:19pm:

The banks will continue to close branches irrespective of how much people complain, or how many petitions they sign. There's far to much money to be made in closing them down and forcing you to go digital.

Commonwealth Bank has already announced that it's closing all it's 'BankWest' branches and moving to digital only.

The only hope the public has is to give Australia Post a full banking license. Then maybe the public will be listened too.

It might also help stop the collusion between banks when they all raise interest rates irrespective of what the reserve bank does.

Yep. Ultimately all suburban branches of all banks will be closed.

But customers are also to 'blame'. As Australians abandon cash and the need for face-to-face interaction with banks, what business could justify keeping an entire branch running with only a few customers per day?

A few customers a day? The comm bank in my town shuts at 1. From 9 till 1 the queue is almost always out the door. The nab used to be open until 5, with queues often out the door and still they closed the branch down. Banks don't care how many customers. Look at ANZ, even if you can find a branch it's often cashless. It's certainly not because their customers want it that way.

I guess geriatrics are not the banks' target demographic.

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Frank Gold Member Offline Australian Politics Posts: 40719 Gender:	Re: Stop Closing Down Our Bank Branches Reply #8 - Mar 21^st, 2024 at 3:47pm What is the point of a bank branch? They are like DVD rental places - superceded. Deposit cheques and cash and... ? I haven't seen a cheque in years and the last time I had to go to a bank was to deposit one. I don't even use ATMs except on holidays or overseas.
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JC Denton Gold Member Offline Posts: 5198 Gender:	Re: Stop Closing Down Our Bank Branches Reply #9 - Mar 21^st, 2024 at 4:06pm theres heaps of them everywhere around here. dont know where OP lives that this is somehow a problem
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Jasin

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Re: Stop Closing Down Our Bank Branches
Reply #10 - Mar 21^st, 2024 at 4:18pm

Everyone does 'Online Banking' of which is all done through the Main Headquarters Branch (fees included).
This makes the Regional, Rural and other smaller Branches miss out on what they would get if people actually went into the Bank for transactions.

It's the Online for the Main Branch that undermines the other Branches and forces the Bank to close them and no longer provide jobs.

Happy Cashless Economy everyone!

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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.

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John Smith

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Re: Stop Closing Down Our Bank Branches
Reply #11 - Mar 21^st, 2024 at 4:26pm

MeisterEckhart wrote on Mar 21^st, 2024 at 3:44pm:

John Smith wrote on Mar 21^st, 2024 at 3:41pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 12:26pm:

John Smith wrote on Mar 21^st, 2024 at 12:19pm:

The banks will continue to close branches irrespective of how much people complain, or how many petitions they sign. There's far to much money to be made in closing them down and forcing you to go digital.

Commonwealth Bank has already announced that it's closing all it's 'BankWest' branches and moving to digital only.

The only hope the public has is to give Australia Post a full banking license. Then maybe the public will be listened too.

It might also help stop the collusion between banks when they all raise interest rates irrespective of what the reserve bank does.

Yep. Ultimately all suburban branches of all banks will be closed.

But customers are also to 'blame'. As Australians abandon cash and the need for face-to-face interaction with banks, what business could justify keeping an entire branch running with only a few customers per day?

A few customers a day? The comm bank in my town shuts at 1. From 9 till 1 the queue is almost always out the door. The nab used to be open until 5, with queues often out the door and still they closed the branch down. Banks don't care how many customers. Look at ANZ, even if you can find a branch it's often cashless. It's certainly not because their customers want it that way.

I guess geriatrics are not the banks' target demographic.

So it's not about the number of patrons that access the branches afterall. Thanks for playing.

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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MeisterEckhart

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Re: Stop Closing Down Our Bank Branches
Reply #12 - Mar 21^st, 2024 at 4:31pm

John Smith wrote on Mar 21^st, 2024 at 4:26pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 3:44pm:

John Smith wrote on Mar 21^st, 2024 at 3:41pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 12:26pm:

John Smith wrote on Mar 21^st, 2024 at 12:19pm:

The banks will continue to close branches irrespective of how much people complain, or how many petitions they sign. There's far to much money to be made in closing them down and forcing you to go digital.

Commonwealth Bank has already announced that it's closing all it's 'BankWest' branches and moving to digital only.

The only hope the public has is to give Australia Post a full banking license. Then maybe the public will be listened too.

It might also help stop the collusion between banks when they all raise interest rates irrespective of what the reserve bank does.

Yep. Ultimately all suburban branches of all banks will be closed.

But customers are also to 'blame'. As Australians abandon cash and the need for face-to-face interaction with banks, what business could justify keeping an entire branch running with only a few customers per day?

A few customers a day? The comm bank in my town shuts at 1. From 9 till 1 the queue is almost always out the door. The nab used to be open until 5, with queues often out the door and still they closed the branch down. Banks don't care how many customers. Look at ANZ, even if you can find a branch it's often cashless. It's certainly not because their customers want it that way.

I guess geriatrics are not the banks' target demographic.

So it's not about the number of patrons that access the branches afterall. Thanks for playing.

It's about the demographics that matter.

The door has closed on the Boomer generation's control of the economic machinery.

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Frank

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Re: Stop Closing Down Our Bank Branches
Reply #13 - Mar 21^st, 2024 at 4:35pm

John Smith wrote on Mar 21^st, 2024 at 4:26pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 3:44pm:

John Smith wrote on Mar 21^st, 2024 at 3:41pm:

MeisterEckhart wrote on Mar 21^st, 2024 at 12:26pm:

John Smith wrote on Mar 21^st, 2024 at 12:19pm:

The banks will continue to close branches irrespective of how much people complain, or how many petitions they sign. There's far to much money to be made in closing them down and forcing you to go digital.

Commonwealth Bank has already announced that it's closing all it's 'BankWest' branches and moving to digital only.

The only hope the public has is to give Australia Post a full banking license. Then maybe the public will be listened too.

It might also help stop the collusion between banks when they all raise interest rates irrespective of what the reserve bank does.

Yep. Ultimately all suburban branches of all banks will be closed.

But customers are also to 'blame'. As Australians abandon cash and the need for face-to-face interaction with banks, what business could justify keeping an entire branch running with only a few customers per day?

A few customers a day? The comm bank in my town shuts at 1. From 9 till 1 the queue is almost always out the door. The nab used to be open until 5, with queues often out the door and still they closed the branch down. Banks don't care how many customers. Look at ANZ, even if you can find a branch it's often cashless. It's certainly not because their customers want it that way.

I guess geriatrics are not the banks' target demographic.

So it's not about the number of patrons that access the branches afterall. Thanks for playing.

What, then?

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Estragon: I can’t go on like this.
Vladimir: That’s what you think.

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AusGeoff Gold Member Offline Sage of Gippsland Posts: 5998 Victoria Gender:	Re: Stop Closing Down Our Bank Branches Reply #14 - Mar 21^st, 2024 at 5:22pm MeisterEckhart wrote on Mar 21^st, 2024 at 4:31pm: ...The door has closed on the Boomer generation's control of the economic machinery. I'm not sure what you mean by this? Please clarify.
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