Rural Bank Closures Leave Vulnerable Australians Struggling Financially: Report

Published on February 19, 2024

Rural bank closures deprive vulnerable Australian communities of financial support, with many regional residents lacking the funds and digital know-how for online banking, new research shows. Over a third of regional residents feel financial strain when paying for high-quality internet, impacting their ability to afford other essentials. About 36 percent spend over 5 percent of their income on internet access, exceeding urban levels, while regional Australians also have a higher percentage needing to spend over 10 percent. “For many in this cohort, a reliable internet connection is beyond their economic reach,” the ARC Centre of Excellence for Automated Decision-Making and Society report said (pdf)....

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