This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact The Epoch Times Reprints.
Major banks have been steadily closing branches across Australia citing the popularity of online digital services.
The bank’s share price rose 0.36 percent on the market on Feb. 21.
Branch closures are leaving many regional residents grappling with limited access to essential financial services.
The temporary measure comes as multiple banks close in the regional town.
The financial sector is still tapping into the Federal Reserve’s crisis-era emergency lending facility.
Falling bank and ATM numbers increase fears of a cashless society.
National Australia Bank believes industry and community-led digital ID will complement and extend the reach of government digital ID.
The Optus outage has sparked fears of a world without cash.
Branch closures are putting pressure on Australia Post to provide banking services to regional communities.
Some customers say they can’t pay their rent or mortgage, or haven’t received their paychecks.
A Senate inquiry is examining the impact 600 bank closures in regional communities have had since 2017.
A senior analyst at Fitch warned on Tuesday that the credit rating agency may be forced to slap dozens of American banks with downgrades amid ongoing woes in the U.S. banking industry.
