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Bank@Post says it needs more funding and extends atmx rollout amidst growing criticism that it can’t replace real bank branches in the bush
Amidst growing criticism that Bank@Post should not be seen as a replacement for bank branches, Australia Post has indicated it will need a longer-term funding solution to keep the service “available and financially viable”.
Banks and the cost of doing business
Another day, and another “challenge” for the banks. NAB CEO and Australian Banking Association Chair (ABA), Andrew Irvine sat down for a panel discussion at the Trans-Tasman Business Circle Annual Economic Forecast event last Friday and lamented the cost of cash, saying “cash is viewed as free and digital payments are viewed as having a surcharge. This is actually the wrong pricing signal because the cost of a digital payment versus a physical payment is much, much lower.”
Bullock says cash and bank branches are community service obligations but suggests the RBA may sweeten the deal
Reserve Bank of Australia Governor Michele Bullock says providing customers access to cash and bank branches are community service obligations expected of banks but the RBA is considering ways to ease the burden.
