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Banking, Finance Investment

Banks and supermarkets have a responsibility to support cash

Vulnerable Aussies are being left behind by the cashless agenda 2 mins read
The number of ATM cash withdrawals remains within 29 and 30 million per month

Big banks, including Macquarie, Westpac, NAB, CBA and ANZ, as well as Woolworths and Coles continue to limit access to cash, leaving vulnerable Australians stranded.

Meanwhile Australians are not using less cash but being forced to work harder to access cash.

Macquarie Bank has announced the phasing out of all cash services in branches.

Woolworths has announced harsh new limitations on cash-out services.

The number of ATMs in Australia has dropped below 25,000 for the first time since 2006. 

Meanwhile Australians continue to withdraw cash and continue to support the right to choose cash as a way to pay. The RBA reports that monthly ATM cash withdrawals remain between 29 and 30 million per month, not declining rapidly.

“Millions of Australians trust and rely on cash everyday,” said Jason Bryce, spokesperson for the Cash Welcome campaign.

“Now Aussies face more restrictions on accessing cash and new limitations on where they can use cash – our legal tender.

“All Australians need to be able get cash and use cash to buy their food and essential groceries, when they choose.

“Banks and supermarkets enjoy a central place in our economy and the high profits that go with that. They have a clear responsibility to ensure everyone can buy their food using cash.

“Some Australians rely on cash, understand cash and budget with cash.

“The cashless agenda of banks and supermarkets is cruelly leaving many Australians out. People in rural and regional communities are particularly impacted.

Mr Bryce has started a petition asking for a ‘banking and cash guarantee’ in Australia that has attracted 125,000 signatures and growing.


Key Facts:

Macquarie Bank is going cashless in all branches.

Woolworths is limiting cash out services.

ATM cash withdrawals are not in decline.

Banks and supermarkets have a social responsibility to support all Australians, regardless of whether they choose to use cash or rely on cashless transactions.


About us:

CashWelcome.ORG is a campaign supported by donations from the public and industry. We work in co-operation with the ATM Industry Association.


Contact details:

Jason Bryce

jason@cashwelcome.org

ph: 0428 777 727

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