Big bank guns down Boonah business

Boonah gun business Smiffy's Guns and Amo has been left shocked by a major bank's decision to withdraw banking services after deeming the business a 'risk.'

Owner of Smiffy's Guns and Amo Anita Smith said she was appalled by NAB's decision to withdraw banking services.

"We can't use a local bank because of what business we are, yet we can legally operate in the town just as they can. It's ridiculous," Ms Smith said.

"I am making a formal complaint to NAB about this, it's totally unacceptable," she said.

The letter form the bank.
The letter from the bank.

NAB Executive for Consumer Banking Anthony Waldron said that there were times when the bank would determine they could no longer provide banking services because of regulatory and legislative obligations emphasising it was not targeting gun shops.

"We appreciate that in these cases it may be difficult for any customer required to find alternative banking arrangements," he said.

"It is clear that we can manage this process with more care and respect.

"We are sorry for the circumstances that have been identified and we will work directly with these customers to resolve.

"Treating our customers consistently and fairly is important to us, and we will be reviewing this process to ensure customers are always treated with care and respect."

Shooters Union Australia president Graham Park slammed NAB's decision, calling it "abhorrent virtue-signalling which directly harmed rural communities, made it harder for farmers to protect their crops, and penalised people taking part in a popular, safe, and highly regulated sport."

"Gun dealers are subject to even further checks, security requirements, and safety standards - there is no risk whatsoever in providing gun shops with merchant banking facilities," Mr Park said.

Mr Park said NAB's decision was particularly confusing given what happened the last time a bank decided it didn't want to support law-abiding firearms users.

"Given the public outcry against Bank of Queensland when they pulled a similar stunt last year, I cannot imagine what was going through the minds of whoever at NAB decided to take this action," he said.

"It goes without saying we are now encouraging every law-abiding firearms user in Australia to seriously reconsider any banking arrangements they may have with NAB and will be checking our own accounts to make sure none of them are with the bank.

"I'm sure NAB's shareholders may want to ask questions about why the bank is going out of its way to alienate legitimate and highly regulated businesses which support our struggling regional economies."

Read more stories from Samtui Selave.