Plea to restore important rural SA banking services

In a period of record profitability for banks, closing South Australian branches in regional areas is wrong and unacceptable, according to a local MP.

In a period of record profitability for Australian banks, closing branches in regional areas is wrong and unacceptable, according to a local MP.

Member for Baker Tony Pasin applauded Westpac on its recent decision not to proceed with the planned closure of the Bank SA branch in Kingston, but said more must be done about the recent loss of banking services in his electorate and in rural Australia.

He said wanted to see recently closed branches in the South East, Riverland and Murraylands reopened.

Mr Pasin said branch closures were disproportionately felt by rural and regional Australians due to distance between major centres and poor digital communication infrastructure.

The recently-closed Tailem Bend Bank SA branch.

“Face-to-face banking services mean a lot to our regional towns,” he said.

”They are important for the social fabric of a community, its sporting and service clubs, school fundraisers, the elderly and those lacking access to the internet.

“In a period of record profitability for the Australian banking sector, the decision to withdraw services from regional Australia is not only wrong, it‘s unacceptable.”

In the Murraylands, Tailem Bend’s Bank SA branch closed in February this year while Mannum’s Bank SA shut its doors in December 2022.

Customers from both towns now have to travel to Murray Bridge to use Bank SA services where the Bank SA and Westpac branches merged in one location in 2021 in a cost-saving measure.

Commonwealth Bank’s Murray Bridge branch opening times have come under fire, with customers labelling the 9.30am to 1pm Monday to Friday hours a “joke”.

“Not even one day when working people can go and (bank),” a social media post said.

“So they can close down country town banks or have them close after lunch everyday but profit a billion dollars,” another poster added.

Member for Baker Tony Pasin applauded Westpac on its recent decision not to proceed with the planned closure of the Bank SA branch in Kingston SE, however he said wanted to see recently closed branches in the South East, Riverland and Murraylands reopened.

Westpac’s decision to hold off on closing the Kingston Bank SA branch comes following a previous commitment from CBA and Westpac to halt regional bank closures while the federal parliament’s Rural and Regional Affairs and Transport Committee undertakes an inquiry into regional bank closures.

The committee is due to hand down its report by December 2023 in relation to the extent of bank closures in regional Australia including the branch closure process and reasons given, the economic and social impacts of bank closures on customers and regional communities and the effect of bank closures or the removal of face-to-face cash services on access to cash.

“I hope this is the beginning of a shift in thinking from all four major banks when it comes to their commitment to regional customers,” Mr Pasin said.

“The Coalition has taken action on the issue of regional branch closures and this pressure is paying off for communities like Kingston SE.

“Now, I want to see branches reopened in communities such as Naracoorte, Bordertown, Kapunda, Millicent, Penola, Renmark and Tailem Bend.”