National Australia bank takes aim at farmers
The National Australia Bank has shut down the accounts of a Victorian farming couple, who fear it’s because they hold gun licenses.
A VICTORIAN farming couple is facing the prospect of having their bank accounts shut down — and they fear it’s because they hold gun licences.
Barbara and Glenn Ford, of Colglenn Farm at Diggers Rest, were advised by National Australia Bank last month that, following “due diligence checks” the bank would be closing 15 accounts held by the couple.
No reason has been given for the closures but, after The Weekly Times last week revealed NAB was shutting accounts associated with firearms retailers, Mrs Ford feared it was because she and her husband both held gun licences.
“Really the way they’ve gone about it is totally unacceptable,” Mrs Ford said.
“If gun dealers and registered gun owners who have a legal business can be shut down, it’s almost an assumption that we’re guilty of something.
“We feel as though our reputation is harmed, to say our bank has just thrown us out.”
The Fords, who farm cereal grains and prime lamb, have banked with NAB for more than 50 years, including for all their agribusiness needs and self-managed super.
Mrs Ford received the letter — seen by The Weekly Times, and similar to those received by a gun shop owner and ammunitions manufacturer in Queensland — on February 12, advising all accounts would be shut down in 45 days.
The closures are on hold pending a review, after Mrs Ford escalated their case to NAB’s chief executive office but so far she has received no response back.
A spokeswoman for NAB would only say the case, along with the others reported by The Weekly Times, was under review.
Mrs Ford said since NAB had changed its approach from having dedicated agribusiness bankers working with clients, to a call centre, she had had difficulty reaching someone who could help them or who knew about their farming enterprise.
“If there was something we’ve done to make us not welcome customers anymore, if there was something they thought we were not complying with, you would expect some notice before jumping to closing the accounts,” she said.
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