Three prominent Australian banks—Commonwealth Bank, NAB, and Westpac—have renewed agreements with Australia Post to provide in-person banking services through the Bank@Post initiative, which will be accessible at approximately 3,400 post offices nationwide. These banks invest around $90 million annually to deliver essential banking services, focusing on rural and underserved communities.
Moreover, discussions with ANZ are at an advanced stage, aiming to enable ANZ customers to utilise Bank@Post by October 2025. Other banks, including Macquarie and HSBC, have also initiated talks with Australia Post regarding similar arrangements.
Australia Post has indicated that these updated agreements will introduce standardised services for customers. The initiative is seen as crucial for maintaining the financial viability of Licensed Post Offices, which often operate as family-run businesses serving local areas.
Angela Mitchell from the Licensee Representative Council emphasised the importance of postal banking in supporting communities with limited cash access. Additionally, the major banks have collectively agreed to pause any branch closures until at least 2027, reflecting a commitment to preserving banking access for rural customers. The Australian Banking Association confirmed this initiative, acknowledging the ongoing need for in-person banking services, despite a general shift towards digital platforms.