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Banks cull branches in shift to a cashless society

James Eyers

Major banks are accelerating the push for a cashless society by seeking deeper partnerships with fintech start-ups and trying to encourage regional communities to eliminate cash from country events.

But the rapid digital banking push is rubbing up against growing political and union pressure on regional branch closures, raising questions about banks’ obligations to provide face-to-face service to customers in the bush.

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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/banks-cull-branches-in-shift-to-a-cashless-society-20230424-p5d2r3