Deb Frecklington addresses numerous South Burnett bank closures

Concern for elderly and rural Burnett residents grows during the rapid closure of local bank branches since 2016, with some falling victim to cybercrime from a lack of internet service, transport and technical ability.

A regional MP has addressed the closure of six banks in the South Burnett region over the past several years

A regional MP says the closure of seven banks in the South Burnett region over the past several years is a major problem for technologically challenged elderly residents and the owners of rural properties with bad internet connections.

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Nanango MP and Opposition spokeswoman for Regional Development Deb Frecklington raised these problems in a submission to the Federal Senate Committee currently investigating the impact of bank closures in regional Australia.

Since 2016, there have been continual bank closures across the region including Suncorp Kingaroy in 2017, Bank of Queensland Kingaroy in 2021 ANZ Toogoolawah, Kilcoy and Kingaroy in 2022, NAB Esk and Murgon in 2021 and reduced hours at Commonwealth Murgon.

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Mrs Frecklington said it was an important opportunity to share information with the Federal Committee about the many bank closures that have occurred across the Nanango Electorate.

“On behalf of my community, I wanted to share the economic and welfare impacts of bank closures on people from our region,” Mrs Frecklington said in the submission.

“Unfortunately, the closure of regional branches is a common theme for the big banks, who believe they can service their customers just as well online.

Suncorp Kingaroy closed its doors in January 2017.

“We know that many people in regional areas have slow internet connection, or no computer access at all, so internet banking isn’t always the answer.

“A complete lack of public transport across the Nanango Electorate also means it is not always possible for them to travel to another township to access a branch,” she said.

Suncorp Kingaroy closed their doors in January 2017 after a “significant change” in the way customers engaged with the bank over the last few years which contributed to the closure, she said.

A Suncorp spokeswoman said Suncorp Bank has not closed any regional branches in Australia in the past year and has committed to not closing any branches while the Rural and Regional Affairs and Transport References Committee for the inquiry into Bank Closures in regional Australia is underway.

“It is always our priority to listen to our customers’ feedback and support them to access options that suit their banking needs,” the spokeswoman said.

“In line with customer habits and industry trends, we continue to see a significant reduction in over-the-counter transactions and a major shift towards alternate banking options.

“Our customers, including those in regional areas, have access to a range of channels including access to online banking via our Suncorp App or website, as well as telephone banking.

“Customers can also access regional mobile bankers and lenders, business centres, our broker network and Bank@Post for face-to-face services to withdraw and deposit funds and obtain cash at fee-free ATMs at any Suncorp or ATMs operated by the four major banks,” she said.

Mrs Frecklington said cyber crime is another issue regional Queenslanders are facing.

“Often these victims are older Australians, who can struggle to deal with the banks via the phone or internet,” Mrs Frecklington said.

“The loss of any service is always devastating for small townships, who too often feel the brunt of large companies relinquishing their commitment to serve regional areas.

The Federal Committee is accepting submissions until 28 April 2023 and Mrs Frecklington would encourage anyone who has been impacted bank branch closures to consider sharing their experience.