‘Listeners feel absolutely blighted’: Why big banks are shutting down their branches
The CEO of the Australian Banking Association Anna Bligh spoke with Deborah Knight about why banks are closing down physical branches.
In a world that continues to evolve with technology, it seems banks are replacing branches with online banking.
This has left many customers who do not use technology in the dark.
The CEO of ABA, Anna Blight said “the escalation in customers carrying a bank branch in their pocket or their handbag in the form of their mobile phones has escalated completely during and since covid.”
With banks rising their interest rates ‘twice as fast’ as the rate cuts, Australians feel banks do not care about their customers.
“All of our listeners who’ve contacted me are feeling absolutely blighted by the banks and the poor service”, said Deborah Knight.
Image: Ilbusca/Getty Images