Update on Bank@Post

ANZ today announced its customers would still be able to use Bank@Post until 14 January 2019 despite it being unable to reach a fair extension of its contract with Australia Post.

ANZ General Manager Retail Distribution Network Paul Presland said: “We will be talking to our customers currently relying on Bank@Post about the different ways they can already do their banking remotely.

“ANZ is committed to regional Australia and we will also announce a number of additional options that will help businesses with basic banking transactions, such as cash and cheque management, early next year.

“We are disappointed we have been unable to reach a fair and proportionate agreement with Australia Post given we were prepared to pay a substantial increase to access Bank@Post in regional Australia.

“We don’t think it’s fair that with a flat access fee and our lower volumes we would be effectively paying around three to four times our biggest competitor,” Mr Presland said.

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