Banks need to be stopped from simply closing accounts with no reasons given.

I am aware of 2 people in just one small rural town, one with Commonwealth & one with NAB, who have been sent a letter/text message with a closure date, but even after going into the branch, have no reason as to why the bank is closing their account/s. These people have had to change banks as they are not allowed to open another account with these banks. One of these people was still using their original account from their time in primary school.

This is not a new occurrence.  Similar actions were reported in the media in 2025 with customers having no redress at all.  The only authority available to contact, only logs a report, but does absolutely nothing to remedy the situation.

Laws needed to be changed so banks are held accountable for their decisions with OUR money.