Big Banks Abandon Branches

29 Jan 2025

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Australia’s big banks are walking away from local communities, closing down branches left, right and centre, leaving their customers at the mercy of online scammers.

@aivgoesgreen

The big banks are once again putting profits over people and our abandoning local communities. More than half of our country’s ATMs and a third of our physical bank branches have closed over the last 5 years. Let me know if you’ve noticed this or if this has affected your area in the comments down below.

♬ original sound – Aiv Puglielli MP – Aiv Puglielli MP

Australians reported $330 million in losses to online scams to the National Anti-Scam Centre in the 2023-24 financial year.

Even ATMs aren’t sticking around, with thousands closing down all over the country, meaning the only way people can access their money is through an app or online. 

Over the last five years half of Australia’s ATMs and a third of our physical bank branches have been closed down.

This makes it more difficult for older people and disabled people to visit in person branches, withdraw cash or receive advice from a real person to help manage their accounts.

The reason they’re closing these branches and ATMs isn’t because people weren’t using them. It’s because they cost money, to pay staff, to rent a building.

And after the big banks realised they couldn’t keep taxing dead people or charging you $3 to withdraw your own money from an ATM.

They decided they simply weren’t profitable enough to keep open.

This is the big banks once again putting profits over people. See the Greens plan to do the opposite here.

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