An extra $175 million worth of Australian cash banknotes were issued last week, taking the total cash in circulation to $104.094 billion, a new all-time record.
The banker's dream of a cashless Australia is dead and buried.
The Reserve Bank of Australia reports today that a a new all-time record has been established for the amount of cash circulating in Australia.
The RBA issued an additional $175 million worth of bank notes last week to take the total value of Australian banknotes on issue to $104.094 billion, the first time the $104b mark has been eclipsed in Australia.
"Australians are turning back to cash," said Jason Bryce from the Cash Welcome campaign.
"The RBA data is clear, cash withdrawals are strong, the value of notes on issue is booming.
"2025 is the year Australians said NO to the 'Cashless Society.'
"The ABA and banks say that Australians don't want or need cash but these numbers tell a different story," said Jason Bryce.
"I look forward to banks re-opening their ATMs and bank branches to respond to changing consumer behaviour."
The Australian Prudential Regulatory Authority and the Australian Payments Network reported Australia lost 926 ATMs in total over the financial year to June 2024 and 8,326 in the last seven years. Banks have removed 217 bank-owned ATMs in the last 12 months and a staggering 8,338 bank-owned ATMs in seven years.
Cash Welcome is a campaign to protect our right to choose how we pay, backed by donations from consumers, business and the cash industry. I have a petition that has attracted over 200,000 signatures:
About us:
Jason Bryce
0428 777 727
[email protected]
Contact details:
Jason Bryce
Cash Welcome
Backed by donations from the public, business and industry.
0428 777 727
