'Big Four' Banks and Liberal Complacency hurting Regional Tasmania

Federal Labor MP Brian Mitchell has slammed the "Big Four" banks for abandoning regional Tasmania, and has urged Tasmanians to stop banking with them.

“We need to face facts. The Big Four have no interest in helping rebuild our regions,” Mr Mitchell said.

“We have tried to keep them in the regions. We’ve begged and we’ve pleaded with them not to abandon their regional customers but they are simply not interested.

“Well, if the Big Four want to abandon regional Tasmania, then Tasmania should abandon them,” Mr Mitchell said.

“There are alternative local and regional banks offering better service. It’s time to make the switch.”

The MP’s call follows revelations the Big 4 have stripped more than 115 ATMs and 13 branches from Tasmania, despite recording billion-dollar profits.

“The big banks clearly don’t care about their customers in regional Tasmania. Small businesses are facing hours of travel to deposit and withdraw cash and elderly customers are being directed to go online.

“The only thing that changes banks’ behaviour is their bottom line. It’s time for Tasmanians to close their accounts with the Big 4 and show them the door.”

Mr Mitchell also took aim at the Morrison government’s Regional Banking Taskforce, comprised entirely of Government MPs and Senators, for failing to make practical recommendations.

“The taskforce was established in October and in five months it’s done nothing but put out media releases and a pamphlet,” Mr Mitchell said.

“Who did they meet, what have they done? Where are the recommendations? Where is the draft legislation to improve regional banking?

“Once again, Scott Morrison has announced something but delivered nothing.”