Bank Australia, the tenth-largest company in the Australian mutual or cooperative banking sector, has announced that it will ban all credit card transactions for gambling and gaming purposes. The ban will become effective on December 1st, giving customers time to decide whether they want to stick with this bank or move their accounts elsewhere.
Bank Australia is a conglomerate of credit unions and co-operative banks, based in Kew, Victoria. Their responsible and ethical approach to banking is part of their identity as a brand. In fact, they already have a policy that restricts them from lending money to companies in the gambling sector, and they also don’t deal with companies that are involved in tobacco, fossil fuels, weapons and live animal exports.