Alternative means of providing banking and like services in regional Australia
Media Releases

Media release, 14 November 1997

BANKING SERVICES IN REGIONAL AUSTRALIA

Country Australia will have a great opportunity to put their banking needs before Parliament according to a senior Parliamentary Committee Chairman.

Member for Wannon, and Chairman of the F.I.P.A. Committee, Mr David Hawker described this as a very important inquiry looking at future banking services for country Australians who are losing their access to traditional bank branches.

Mr Hawker said, "we want to identify how financial services will be delivered in the future and whether they will meet the needs of people in regional Australia, where rationalisation of the traditional bank branch network is having the most severe effect."

"We will consider geographical access to banking services, and whether banking in remote areas can be realistically conducted through the use of technologies like phone banking, Internet access, EFTPOS, ATMs or Smart Cards."

Mr Hawker added, "I want to stress that this inquiry is not a 'get the banks' exercise."

"We want to see what banks are going to offer as an alternative and we also want to see what other service providers might be prepared to do for regional Australia."

"Also, pensions and other government payments tend to be made through a bank account or by way of a cheque, often attracting high bank charges in the process. In keeping with recommendations made in the Wallis report, we will consider whether Commonwealth payments can be used to encourage the development of cheaper alternatives to the current transaction services offered by banks." Mr Hawker added.

"The Commonwealth Government as the biggest provider of payments in the nation is in an important position to influence these future developments," Mr Hawker concluded.

On 28 October 1997 the Treasurer, the Hon Peter Costello MP, asked the Committee to inquire into:

alternative means of providing banking and like services in regional and remote Australia to those currently delivered through the traditional bank branch network.

The inquiry will be advertised in the national print media on 14/15 November 1997. The Committee hopes to commence public hearings early in 1998. Further information is available by contacting the Chairman or the Secretary.

Ends
14 November 1997
Further information: David Hawker MP (Chairman) 02-6277 4100
Chris Paterson (Secretary, FIPA Committee) 02-6277 4587

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