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The big banks of Australia have been accused of prioritizing profits over people, resulting in the closure of hundreds of branches in both regional and metropolitan areas. This cost-cutting approach has also led to a decline in ATM numbers as banks push customers towards online services.
Despite these branch closures, the big banks are projected to make a whopping $30 billion profit this year.
In this video, the TODAY team discusses the impact of these closures on banking accessibility for Australians. Julia Angrisano, the National Secretary of the Finance Sector Union, joins the discussion to shed light on the challenges faced by local communities and bank employees.
With over 700 branches closed across the country in recent years, Australians are finding it increasingly difficult to access banking services. The closure of branches not only disrupts the lives of individuals but also leads to job losses for bank employees.
These closures, driven by profit motives, have sparked community efforts to prevent further closures. However, the final decision lies with the banks themselves, leaving many Australians concerned about the future of traditional, brick-and-mortar banking.
The banks often attribute these closures to changing customer preferences, urging customers to transition to online banking. While it is true that banking has evolved, this explanation ignores the fact that banks actively incentivize their staff to promote digital and online banking services. Bank workers are encouraged to steer customers away from brick-and-mortar branches and towards digital kiosks or online transactions.
This issue affects not only regional areas but also metropolitan cities. The closure of branches in regional Australia can have a more severe impact due to limited access to digital infrastructure and internet services. However, the crisis is nationwide, and all Australians deserve access to banking services in the manner they prefer, whether it be through physical branches or digital platforms.
It is essential to hold the banks accountable for their actions and prioritize the needs of customers over excessive profits. Shareholders should not overshadow the importance of serving customers and providing essential banking services.
Join the TODAY Show Australia as they delve deeper into this pressing issue and continue to bring you the latest news, current affairs, sports, politics, entertainment, fashion, health, and lifestyle updates.
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Subscribe 👉 http://9Soci.al/L72O50GjSJY | The big banks of Australia have been accused of putting profit before people after hundreds of branch closures in both regional communities and metropolitan areas. ATM numbers have also dropped as bank bosses steer branches to push customers to online services instead. But despite this cost-cutting approach to the business, the big banks are tipped to make a $30 billion profit this year.
Join the TODAY team as they bring you the latest in news, current affairs, sports, politics, entertainment, fashion, health and lifestyle.
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