Fair Go Australia Post
Australia Post is pressuring credit unions, mutual banks and building societies to agree to pay excessive fees or terminate their customer’s access to Bank@Post.
These new fees have come as a shock to all customer owned banking institutions, especially after Australia Post CEO Christine Holgate publicly ruled out applying a Community Representation Fee (CRF) to smaller banking institutions like yours while appearing before a Federal Parliamentary Committee.
Older Australians, particularly in rural and regional areas, are at risk from Australia Post’s tactics.
If you believe Australians deserve access to more than the Big Four banks, please contact Christine Holgate urging Australia Post to reconsider its decision.
Send a message to Australia Post to keep banking fair
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|To:||Christine Holgate – Group Chief Executive Officer and Managing Director Australia Post|
|Subject:||Fair Go Australia Post|
Dear Christine Holgate,
It is important that all Australians, particularly older Australians and those living in rural and regional parts of the country, continue to have access to a range of banking providers through Bank@Post.
I am concerned that Australia Post’s decision to unfairly charge smaller banking institutions a disproportionately high fee, principally to subsidise branch closures by the larger banks, will result in less competition in banking.
It is unreasonable to ask smaller banking institutions to pay up to nearly 20% of their annual profits to continue to provide customers with Bank@Post when the major banks were only asked to provide 0.2% of their annual profits.
If smaller institutions are forced to withdraw from Bank@Post, customers will have to travel long distances to do their banking, or where that isn’t an option, switch banks.
I urge you to reconsider applying the Community Representation Fee to smaller banking institutions.