An important discussion about the future of cash across Australia with Robbie Barwick from The Australian Citizens Party.
The CEO of CBA Matt Comyn floated the idea of limiting cash transactions to $500, so we pull this apart in the context of the Use Cash campaign which ran successfully on the 2nd April.
See my earlier show for detail of that campaign, and the Senate interrogation of the RBA which we also discuss. The Fight For Cash Just Got Terminally Serious! https://youtu.be/LiNSH7I_8xs
Here’s the details. What you can do: Call and email WA Labor MPs to demand they stand up to BankWest and CBA and tell their boss Anthony Albanese to re-establish a People’s Bank:
Member for Tangney Sam Lim Ph: (08) 9354 9633 Email: Sam.Lim.MP@aph.gov.au Member for Hasluck Tania Lawrence Ph: (08) 6245 3340 Email: Tania.Lawrence.MP@aph.gov.au Member for Pearce Tracey Roberts Ph: (08) 6500 6499 Email: Tracey.Roberts.MP@aph.gov.au Member for Swan Zaneta Mascarenhas Ph: (08) 9355 0099 Email: Zaneta.Mascarenhas.MP@aph.gov.au Member for Cowan Dr Anne Aly Ph: (08) 9409 4517 Email: Anne.Aly.MP@aph.gov.au Member for Burt Matt Keogh Ph: (08) 9390 0180 Email: Matt.Keogh.MP@aph.gov.au Member for Perth Patrick Gorman Ph: (08) 9272 3411 Email: Patrick.Gorman.MP@aph.gov.au Member for Brand Madeleine King Ph: (08) 9527 9377 Email: Madeleine.King.MP@aph.gov.au Member for Fremantle Josh Wilson Ph: (08) 9335 8555 Email: Josh.Wilson.MP@aph.gov.au
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
Only A People’s Bank Will Tame The Savage Beast: With Robbie Barwick
Here’s the details. What you can do: Call and email WA Labor MPs to demand they stand up to BankWest and CBA and tell their boss Anthony Albanese to re-establish a People’s Bank:
Member for Tangney Sam Lim Ph: (08) 9354 9633 Email: Sam.Lim.MP@aph.gov.au Member for Hasluck Tania Lawrence Ph: (08) 6245 3340 Email: Tania.Lawrence.MP@aph.gov.au Member for Pearce Tracey Roberts Ph: (08) 6500 6499 Email: Tracey.Roberts.MP@aph.gov.au Member for Swan Zaneta Mascarenhas Ph: (08) 9355 0099 Email: Zaneta.Mascarenhas.MP@aph.gov.au Member for Cowan Dr Anne Aly Ph: (08) 9409 4517 Email: Anne.Aly.MP@aph.gov.au Member for Burt Matt Keogh Ph: (08) 9390 0180 Email: Matt.Keogh.MP@aph.gov.au Member for Perth Patrick Gorman Ph: (08) 9272 3411 Email: Patrick.Gorman.MP@aph.gov.au Member for Brand Madeleine King Ph: (08) 9527 9377 Email: Madeleine.King.MP@aph.gov.au Member for Fremantle Josh Wilson Ph: (08) 9335 8555 Email: Josh.Wilson.MP@aph.gov.au
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
The Commonwealth Bank subsidiary Bankwest, the 130-year-old former Bank of Western Australia bank announced last Wednesday that it was moving to become a digital-only bank and would close 45 locations in the state. The 45 Bankwest branches that have been earmarked for closure will close their doors by October this year. There are 28 locations in Perth and 17 in regional WA. A further 15 branches will be rebranded under the Commonwealth Bank banner and are expected to finish their transformation by the end of the year.
Yes, this is the same CBA whose CEO Mat Comyn on 20th September 2023 in a statement to the Senate Inquiry into regional branch closures promised not to close more branches until at least 2026, even though they specifically excluded Bankwest from their statement, while saying “we recognise the unique and important contribution that regional Australia makes to our country”. “Our decision to pause regional branch closures is also predicated on customers and communities valuing our decision to stay”.
Committee member Senator Richard Colbeck said the Senate committee has been hearing plenty of people raising concerns about the vital banking services being lost.
“Every week in our hearings we hear from local communities how important these essential services are and how their communities are affected, yet those who are given a license to provide those services, the so-called service sector, continuously ignore those pleas and withdraw services – it is as though their ears were painted on,” he said.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
More reports of banks removing cash services, at a time when the Senate Inquiry into Regional Branch closures highlighted again the need for access to cash.
According to the Bank of England, cash is still important for several reasons. Cash is a fast and convenient way to pay. It is widely accepted. It is helpful for budget management. Cash payment is entirely anonymous. Moreover, cash is a stable currency system that is resilient in times of crisis and reflects a nation’s identity . It is also the most secure means of payment.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
More reports of banks removing cash services, at a time when the Senate Inquiry into Regional Branch closures highlighted again the need for access to cash.
According to the Bank of England, cash is still important for several reasons. Cash is a fast and convenient way to pay. It is widely accepted. It is helpful for budget management. Cash payment is entirely anonymous. Moreover, cash is a stable currency system that is resilient in times of crisis and reflects a nation’s identity . It is also the most secure means of payment.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
I caught up with Robbie Barwick from the Australian Citizens Party to review the recent hearings into Regional Bank Branch closures, and more broadly about the progress made this year.
We look at the underlying issues which have been brought to the surface through the inquiry, and consider what happens next.
And here is the link to the paper which was discussed in the hearings: https://citizensparty.org.au/sites/default/files/2022-06/aust-hamiltonian-credit.pdf
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
This is the third in a series of posts following the recent hearings in Canberra as the Senate Rural and Regional Affairs and Transport References Committee heard from Dale Webster, from The Regional. She and I wrote to the Committee to get this inquiry up and running.
On Friday 1st December 2023 the Senate took evidence in Canberra relating to bank branch closures.
This is the second in a series of posts following the recent hearings in Canberra as the Senate Rural and Regional Affairs and Transport References Committee heard from Robbie Barwick and co who presented the case for a public bank.
On Friday 1st December 2023 the Senate took evidence in Canberra relating to bank branch closures.
On Friday 1st December 2023 the Senate took evidence in Canberra relating to bank branch closures. This is the first of a series of posts which presents some of the important evidence, as the Senate Rural and Regional Affairs and Transport References Committee heard from the Licenced Post Office Group (LPO).
