The last bank in Mannum closed at the worst possible time - just as flood waters were engulfing the South Australian town on the Murray River.
For the historic town that relies on tourism, hospitality and farming, the federal government's moratorium on regional bank closures is cold comfort.
"It's too little, too late, that was our last bank in 6000 square kilometres," Mayor Simone Bailey told AAP of the Westpac group's BankSA branch closure in 2022.
"But ... it's good for the other towns that haven't had it happen to them yet."
Treasurer Jim Chalmers on Tuesday announced the moratorium until the end of July 2027, after a year-long inquiry revealed rural Australians' fears about dwindling essential services in the bush.
"If we want a strong national economy, then regional Australia needs to be a big part of the story," he told reporters.
"That means making sure that banking services are available to the businesses and workers and people and communities of regional Australia.
"We also want to make sure that there are still face-to-face services for people who need them in the bush and people for whom digital alternatives may not necessarily work."
Nearly 850 banks have closed across regional, rural and remote Australia since June 2017, according to Australian Prudential Regulation Authority data.
The moratorium came after NAB accepted a new agreement not to close regional branches, with the Commonwealth Bank and Westpac extending previous commitments.
A moratorium was already in place at ANZ, following their takeover of Suncorp.
Australia Post has also signed an agreement with the major banks to increase their commitment to services through post offices.
Hundreds of regional Australians told a Senate inquiry of the major flow-on effects of bank closures.
Many said banks were central to the social fabric of small towns, keeping vulnerable and elderly people connected and community groups afloat.
Farmers and tourism operators told the inquiry bank managers with extensive local knowledge were critical to their lucrative operations.
Residents in several towns spoke of having to travel long distances to do their banking, including a 700km round trip for people in Tom Price after Westpac shut shop in the Pilbara town in late 2022.
Some remote business owners described going to extreme lengths to make to make cash deposits, including stuffing suitcases full of cash and flying to a capital city.
The banks told the inquiry more than 95 per cent of their transactions were digital, demand for cash had dramatically reduced and face-to-face transactions were increasingly rare.
The NSW Riverina town of Junee successfully fought against the closure of its Commonwealth Bank, which was slated to shut in March 2023.
Junee Licorice and Chocolate Factory manager Rhiannon Druce said the moratorium was a good start to keep banks in the regions.
"It's necessary ... if we want to see people move to the country and lure businesses to the country," Ms Druce said.
She said the reversal of CBA's decision to close the local branch dramatically improved the relationship between the bank and locals, who were keen to utilise the service.
Australian Banking Association chief executive Anna Bligh said the industry was committed to customers in regional areas.
"This is a major commitment to make sure regional customers can continue to visit a branch and access services if they wish to do so."
