Banks to come under the microscope

The mass closure of regional bank branches is coming under the microscope with a senate inquiry preparing to grill bank chiefs this week.

There was public outcry earlier this year when several banks planned to close branches in Robinvale including the ANZ.

While Westpac in May said it would keep the Robinvale site open the bank says ninety-six percent of its transactions across the country are now digital.

There has been more than six-hundred-and-fifty regional bank closures since 2017.

Banks are saying that over-the-counter transactions have plunged by thirty-nine-percent in the regions over that time.

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