The Reserve Bank of Australia yesterday reported that ATM cash withdrawals continue to rise.
There were 30,859,700 ATM cash withdrawals made in Australia during February, up by 166,400 withdrawals (0.5%) from January and more than 1 million more withdrawals than one year ago in February 2023 (up 3.6%).
Australians withdrew more than $9.5 billion (in total) during February 2024, an average withdrawal of $308. Twelve months ago the average ATM withdrawal was $292 (in February 2023).
Australians clearly want to access and use cash.
Banks can no longer claim that Australians don't want access to physical currency as an excuse for closing branches and ATMs. Banks profit from digital payments through merchant service fees and card surcharges plus the collection of valuable transaction data.
Only cash is reliable, private and surcharge-free. Without cash as a payment option, there is no competitive pressure on the banks to rein in their rising fees.
data shows a strong rise in the amount of cash circulating in the community.
On the 3rd of April 2024, there was over $101.5 billion worth of Australian bank notes on issue, up from $100.99 billion on the 6th March 2024.
71 per cent of Australians are worried about a cashless Australia, according to a survey paid for by Waave, a digital payments app.
Cash is not disappearing and the facts are clear - people continue to want cash.
Please help me keep this campaign going. We have now collected more than 174,000 signatures. Share this link:
https://www.change.org/BankingAndCashGuarantee
Check out our Cash Welcome online shop and support our campaign.
I'm posting POS stickers to any retailers and merchants asking for Cash Welcome signage. They are 60mm x 80mm (larger available) and popular. Hopefully we can take this battle for hearts and minds to as many retail points of sale as possible.
Get in touch if you would like some Cash Welcome stickers for your shop: jason@cashwelcome.org
About Us
Cash Welcome is just me - Jason Bryce - and my friend Bart who helps with the website.
I started my petition because my local bank branch closed despite long queues out the door every day.
There are plenty of costs involved in this campaign so we rely on donations, from the public and from businesses that trust and rely on cash.
Please consider making a small contribution to:
our gofundme account
or deposit in our Commonwealth Bank account:
Cash Welcome
BSB 062-692
AC 4954 6502
Please visit our
Cash Welcome on Facebook
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Thank you and yours sincerely,
Jason Bryce
jason@cashwelcome.org