The federal government has reached an agreement with the big four banks to ensure no regional banking branches will close before mid-2027.
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National Australia Bank committed to a new moratorium, announcing it will not close any rural or regional banking branches until at least July 31, 2027.
Commonwealth Bank and Westpac have extended their existing agreements, committing to no closures before July 31, 2027 as well.
The same date applies to ANZ and Suncorp, under conditions the federal government imposed on the banks as part of ANZ's acquisition of Suncorp in 2024.
CBA, NAB and Westpac have also signed new in-principle Bank@Post agreements to shore up the financial stability of the service, which allows customers to make banking transactions at Australia Post stores.
ANZ is also in negotiations to join the service after it dropped out in 2019.
Westpac CEO Anthony Miller said while more customers were choosing to bank online, in-person banking remained a necessity for others.
"Through our community engagement program we know that face-to-face service still plays an important role for many of our customers, and we are continuing to look at how we can best support Aussies in the bush," he said.
NAB group executive for personal banking Ana Marinkovic said nearly half of the bank's branch network served regional communities.
"While digital banking continues to evolve, we firmly believe that face-to-face banking services remain essential for many Australians," she said.
1 in 3 regional banks have closed
The agreements will provide certainty for regional communities, where many customers still rely on in-person banking services, especially vulnerable, elderly or disabled people.
Despite this, 36 per cent of bank branches in regional Australia have closed since 2017.
A Senate inquiry report into branch closures was handed down in May 2024, making eight recommendations to protect the future of regional banking.
It recommended the federal government develop a mandatory code of conduct that would require banks to undertake meaningful community consultation.
It also recommended a regulator be authorised to approve or defer any bank closure requests and have the power to penalise those that do not comply with an order to defer.
The federal government has not formally responded to the report.
