Source: SmartCompany/Zennie
A NSW tourism hotspot which lost access to card transactions in a recent tech outage, and Tasmanian business advocates who view cash as “essential” to regional traders, will this week front a Senate inquiry into rising bank branch closures outside metropolitan Australia.
Businesses, councils, and banking representatives will speak at public hearings held by the Senate Standing Committee on Rural and Regional Affairs and Transport, as it considers the spate of regional bank branch closures and their effect on regional communities.
More than 650 bank branches have closed nationwide since 2017, a decline that some regional councils say has deprived small businesses and community groups of vital services, including cash deposits and withdrawals.
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