Anthony Chisholm (Queensland, Australian Labor Party, Assistant Minister for Education) Share this | Hansard source

The Albanese government understands the important role cash plays in our economy and is committed to ensuring Australians have continued and reliable access to cash. As the senator may be aware, a revised protocol for bank closures under the ABA industry Banking Code of Practice came into force from 1 July 2023, implementing the Regional Banking Taskforce's principle recommendations. The revised protocol includes a new customer care standard, with additional obligations to be triggered if the nearest branch is more than 10 kilometres away—down from 20 kilometres—mandatory branch closure impact assessments and enhanced customer notification obligations.

Additionally, Australia Post's Bank@Post service is part of the solution for maintaining access to banking services. Through this service, customers can make withdrawals, deposits and balance enquiries at their local post office. There are currently more than 3,400 post offices providing access for more than 80 banks and financial institutions. The government is concerned about the impact that this may have on those who need to refer to or to access face-to-face banking services and is currently considering its response to the Senate Rural and Regional Affairs Transport References Committee report.