The day a Port Hedland bank overflowed with too much cash
After 37 years in banking, the outgoing CEO of Auswide Bank reflects on the big four’s blunders, and life in boom-time WA.
Port Hedland in remote Western Australia was booming and cash was sloshing around. Too much cash, actually.
It was 1995 and the local 13-staff National Australia Bank branch, managed then by Martin Barrett, had a capacity of $1.5 million. As the safe filled, Australia Post would routinely transport the cash, secured and insured, until one day it decided suddenly to drop the service.
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