In the era of technology, digital transactions are becoming the norm.

Yet, a significant number of Australians are preparing to make a bold statement in support of physical currency.

This movement goes beyond nostalgia; it's a protest against the relentless march towards fully digitised payment systems and the possibility of a cashless society.

Today marks a nationwide event known as Cash Out Day.

Cash advocates are directed to withdraw large sums of money from banks and automatic teller machines (ATMs).

Cash Out Day should send a powerful message to banks and policymakers that cash should remain a viable and legal tender in Australia.

Aussies are encouraged to withdraw cash for Cash Out Day. Image Credit: Freepik/jcomp

Jason Bryce, the founder of the advocacy group Cash Welcome, spearheaded the initiative.

Bryce believed that Cash Out Day could be an opportunity for Australians to assert their right to use cash.

'Physical cash is our legal tender, banks need to give us access to our cash, and all retailers must accept cash,' Bryce stated.

The said event could draw participation from around two million Australians, who will collectively withdraw significant amounts of cash.

Last year, the Cash Out Day initiative saw long queues at ATMs and images of participants proudly displaying their withdrawn cash.

While the exact total amount withdrawn was not officially confirmed, the pro-cash community reported a collective figure of around $500,000 in cash.

In light of the event, the Australian Banking Association (ABA) shared its sentiment about the advocacy group's initiative.

The ABA stated that there was 'no material difference in withdrawals of cash' during last year's Cash Out Day, and there should not be a significant difference this year.

However, the ABA reassured Australians that cash will continue to be available and accessible, even as the use of cash declines.

According to the Reserve Bank of Australia (RBA), 70 per cent of consumer payments were made with cash in 2017.

However, cash payments have plummeted to 13 per cent in 2022.

The ABA forecasted that this could drop to four per cent by 2030.

However, cash remains an essential payment method for approximately seven per cent of Australians, who rely on it for 80 per cent of their transactions.

Cash remains an essential mode of payment for seniors and regional and rural communities.

The tangible nature of cash transactions helps people manage their spending more effectively than tap-and-go digital payments.

Moreover, cash transactions avoid the possible surcharges on small transactions when using card payments.

Access to cash has become more challenging as 339 bank branches have closed in 2023 and 2024.

However, a few weeks ago, Westpac branches in regional locations should reopen soon as a response to community needs.

Recognising the importance of cash for Australians, the government proposed a mandate to keep cash as a payment option for essential items and services by 1 January 2026.

This mandate should cover supermarkets, department stores, utilities, petrol stations, mechanics, pharmacies, GPs, and pet stores.

Cash Out Day is more than just a protest; it's about the freedom to choose how to spend money.

Jason Bryce encouraged everyone to participate by withdrawing cash and keeping it on hand.

So, it's time to be part of a movement that could champion Aussies' financial choices.

Key Takeaways

• Australians participating in Cash Out Day have been protesting towards digitised payments by withdrawing large sums of money from banks and ATMs.
• Cash Welcome founder Jason Bryce could see two million participants demonstrating their support for keeping cash as legal tender.
• The Australian Banking Association (ABA) noted that while the use of cash is declining, it will continue to be available and accessible for those who prefer it.
• Amidst a nationwide closure of bank branches and a reduction in the number of ATMs, the Australian government proposed a mandate to ensure cash use for essential purchases.

Are you joining this initiative? What do you think about Cash Welcome's advocacy for cash usage? Share your thoughts and opinions about financial options in the comments section below!

 

[Veggiepatch]

I used my card overseas too on an ATM, and was told by our banks it was a Visa, so therefor acceptable.
Damn machine gobbled up my card because it wasn't recognised
Had to go in to the Bank, get them to open the ATM, just to retrieve my card.

You are lucky the bank was able to open the ATM.

The same happened to me at an Australian bank operated ATM. The staff said they did not have access to the ATM and I would have to apply for a replacement card.

Apparently, the only people who can open an ATM are employees of machine refillers and repairers with companies such as Chubb, Armagard and Prosegur.

 

[Observer]

How did you not get charged a fee when using your card at Aldi? I got charged once when I used my card but never again I pay by cash if I ever go into Aldi

Instead of swiping my card to make a payment, I insert it and select SAVINGS and put in my PIN
Works quite often at different places. Should try it?

 

[BruceC]

It's loaded into the price.....can you see anyone NOT getting the consumer to pay...it all is accounted for...

Exactly

 

[Kahlan28]

Oh FFS, if the need was there the ATM's would be there. The Banks are not removal them first, the people are not using them, open your eyes. I worked in a bank for decades, as use reduced they reduced the number of ATM's, normal business sense to do so as they are expensive to maintain.

And the conspiracy theories are not put out by banks, the idiots believing this stuff do. There is no move to remove cash, the government has said so, they just redesigned the $5 dollar note, why bother. You people are moronic.

You should take a good look at yourself while your at it

 

[BruceC]

if you were correct which you aren't, the smaller business all charge a surcharge on card transactions-- I have been in servos that have a surcharge, donut king charge a surcharge and banks have a charge to get cash out across the counter --Maybe you get a surcharge and are not smart enough to get a receipt to see that you paid one.

One business by the name of HOUSE will not accept cash. Therefore they don’t accept my business.
Aldi (Endeavour Hills) has two manned registers and 6 self service registers, all card only, with a surcharge for using your credit card..

 

[BruceC]

They are refusing cash because of security concerns, taking money to the bank, being robbed, the time it takes to account for the cash, the time it takes to go to the bank, etc, etc.

If you had ever run a business you'd know that electronic transactions are FAR BETTER, accounting is often a push of a couple of buttons, no security concerns, just so much better.

Of course many ratbags like cash as they can hide their transactions easily, not pay tax, just skim some money off the revenue. Which means everyone else picks up the tab, the shortfall in income from taxes, I guess you don't mind paying more tax. Of course maybe you're one of the ratbags who likes to hide their cash.

You are a complete clown..
I ran a small business for 26 years and preferred cash over card due to the bank fees on all transactions..
Just bury your head in the sand but I guess your good for a laugh..

 

[Zorro56]

When the baby boomers all pass, there won't be an issue as the generation that came after all used digital currency so they won't care if there's cash or not they all use the technology. We still need cash now because the systems aren't always reliable and because everyone charges a fee of some sort on top of what your spending.

The systems will never be reliable because as long as profit drives our financial world, banks will cut corners on their systems and support to save money, not to mention the, at times, unreliable energy supplies that are needed to support electronic systems. Cashless is great, until the system fails, and for the reasons I previously stated, it will always go on failing at times. I know how banks operate, I worked for them for 26 years.

 

[johno cpfc]

Oh FFS, if the need was there the ATM's would be there. The Banks are not removal them first, the people are not using them, open your eyes. I worked in a bank for decades, as use reduced they reduced the number of ATM's, normal business sense to do so as they are expensive to maintain.

And the conspiracy theories are not put out by banks, the idiots believing this stuff do. There is no move to remove cash, the government has said so, they just redesigned the $5 dollar note, why bother. You people are moronic.

I believe that some ATMs have been taken away from certain areas as the have been consistantly tampered with . I use my card often and do not have any problems although i will not ever use ATMs i do not trust them.

 

[Cheezil]

Yes did this yesterday as suggested! Hope it sends a clear message that we must have & keep the choice to use cash if we want to!

 

[Kelpie]

To make my explanation clearer for you.....
Small businesses charge you a fee for transactions.
The small business owner gets charged a fee for transactions, so instead of them paying, you get charged the fee instead, and they pay it forward, just so they don't have to pay.
But, any transaction fees that a small business incurs, is a tax deduction to them anyways.
In many ways, it really makes no sense for the consumer to be paying any fees.
We can't claim it as a banking transaction fee on our taxes but small businesses can.

It doesn't really matter if the fee charged is deductible to the business. The matter in discussion here is that the customer as per the usual is the one made to pay for it. And that is not right.
On the other end, the Banks are making more money by screwing the business and people like us who are forced to pay and made to suffer.
Why do you think that they are pushing to get the cash out of circulation.?

 

[freedy50]

if you were correct which you aren't, the smaller business all charge a surcharge on card transactions-- I have been in servos that have a surcharge, donut king charge a surcharge and banks have a charge to get cash out across the counter --Maybe you get a surcharge and are not smart enough to get a receipt to see that you paid one.

As I'm very correct and you aren't

if you were correct which you aren't, the smaller business all charge a surcharge on card transactions-- I have been in servos that have a surcharge, donut king charge a surcharge and banks have a charge to get cash out across the counter --Maybe you get a surcharge and are not smart enough to get a receipt to see that you paid one.

If you are correct, which you aren't all the smaller businesses do NOT make a surcharge. Don't go to donut king!!!

I don't get any cash out across the counter or from anywhere else, so wouldn't be charged anything.
If any business wants to charge a surcharge than they must advise you before you pay. There's usually a notice for this. Obviously you're not smart enough to know this?

However, I have been to quite a few cafes on the South Coast NSW over the last few weeks and had 2 surcharges. 50c and 64c I'll never get that back!!!!

 

[freedy50]

One business by the name of HOUSE will not accept cash. Therefore they don’t accept my business.
Aldi (Endeavour Hills) has two manned registers and 6 self service registers, all card only, with a surcharge for using your credit card..

Good to know about House. I'll shop there more often. You don't get charged in Aldi if you put your card in the card reader and choose cheque or savings then put in your PIN.

 

[freedy50]

It doesn't really matter if the fee charged is deductible to the business. The matter in discussion here is that the customer as per the usual is the one made to pay for it. And that is not right.
On the other end, the Banks are making more money by screwing the business and people like us who are forced to pay and made to suffer.
Why do you think that they are pushing to get the cash out of circulation.?

"the customer as per the usual is the one made to pay for it. And that is not right."

Have you thought about that? Of course the customer has to pay for it. They're a business that wants to make a profit like anyone else who owns a business. They're not charities.

 

[IAN3005]

Good to know about House. I'll shop there more often. You don't get charged in Aldi if you put your card in the card reader and choose cheque or savings then put in your PIN.

Check your receipt the next time... I find you are charged, regardless.

 

[BruceC]

Good to know about House. I'll shop there more often. You don't get charged in Aldi if you put your card in the card reader and choose cheque or savings then put in your PIN.

Good luck to you.
Hope you have got some cash when the system crashes.
Then again you will probably be one who cries and complains that you couldn’t buy anything ..

 

[IAN3005]

Good luck to you.
Hope you have got some cash when the system crashes.
Then again you will probably be one who cries and complains that you couldn’t buy anything ..

Mum's the word!!!!!