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ABA WELCOMES THE ROLL OUT OF BANK@POST SERVICES
Sydney, 27 April, 2005: The Australian Bankers’ Association (ABA) has welcomed the announcement by the Federal Government that banking services at Australia Post outlets are to be extended to more rural and isolated communities.
The Deputy Prime Minister, John Anderson, has announced that Bank@Post1 services will be rolled out to 266 Licensed Post Offices2 (LPOs) which currently perform manual (passbook) transactions for Commonwealth Bank customers.
The LPOs are usually mixed businesses such as newsagents or general stores which will now offer Bank@Post electronic banking and passbook (CBA) services.
Bank@Post allows personal banking customers to use their credit or debit cards to undertake a variety of financial transactions at participating banks and financial institutions3, including deposits and withdrawals, account balance enquiries, account opening, payments for credit card bills.
David Bell, Chief Executive of the ABA, said: “While population may have declined in many country areas, face-to-face banking transaction services are holding up well, recording small gains in remote and very remote areas of Australia.”
“Some banks are expanding their bank branch and financial services networks, adding to local employment.”
“Banking services and programs for indigenous people are being expanded and there is a strong groundswell of support for improving financial literacy.”
ABA research shows that with few exceptions all communities in Australia have access to face-to-face banking within a twenty kilometre radius, while the exponential growth in electronic banking has benefited those able to access the new technology.
For further information:
Heather Wellard
Director, ABA Public Relations
Phone: 02 8298 0411
Mobile: 0409 830 439
ENDS
1 Formerly known as giroPost
2 For a list of LPOs to receive the Bank@Post services please see the Deputy Prime Minister, the Hon John Anderson’s, media release: “More Banking Services To Be Made Available to Rural and Regional Communities.” www.ministers.dotars.gov.au/jc/releases/2005/April/Joint5_2005.htm
3 Banks which participate in Bank@Post include: Adelaide Bank, Bank of Queensland, BankWest (HBOS – check), Bendigo Bank, Citibank, Commonwealth Bank, HSBC Bank Australia, Members Equity Bank, National Australia Bank and St George Bank. For a complete list of other participating financial institutions please see Australia Post’s website: www.auspost.com.au/BCP/0,1080,CH2019%257EMO19,00.html |