Bankwest branch closures may cause more harm

Bankwest branch closures may cause more harm.

Financial counsellors and financial capability workers are concerned the closure of all Bankwest branches across Western Australia will cause financial harm to First Nations people and other vulnerable customers.

Bankwest announced the closures yesterday as part of its transition to digital banking.

“We urge Bankwest and its’ owner, Commonwealth Bank, to re-think this decision,” said Lynda Edwards, a proud Wangkumara woman, NSW woman of the year and Financial Counselling Australia’s (FCA) Coordinator of Financial Capability.

“These closures are going to have a negative impact on many people, including First Nations customers,” Ms Edwards said.

“Going fully digital may put some people at risk of financial harm and creating a digital divide with some customers potentially excluded from accessing financial services.”

“It’s unfair and simply not on,” she said.

First Nations people, the elderly, people who do not speak english and other vulnerable customers often need face-to-face banking.

“Forcing these customers into digital banking means they are more at risk of scams, fraud and elder abuse.”

Financial counsellors and capability workers see the hurdles facing people in regional and remote areas and the impact it has on their financial well-being.

Financial Counsellors are qualified professionals who provide information, advice and advocacy to people in financial difficulty. Their services are non-judgmental, free, independent and confidential.

Financial capability workers provide financial literacy support and education.

NB Please include the website and number for the National Debt Helpline at the end of your story so people who are experiencing financial stress can seek assistance.

Call 1800 007 007 or visit ndh.org.au.

For more information email [email protected] or call 0418 334 121.