7-Eleven's latest decision sparks concern for cash-paying customers

The convenience of cashless transactions is undeniable, but what happens when the option to use cash starts to disappear?

This is a question many Australians are grappling with as 7-Eleven, one of the country's most popular convenience store chains, confirms it will begin to phase out ATMs from its stores.



This decision is a significant blow to customers who prefer or rely on cash transactions.

The move also sparked concerns about the difficulty of accessing cash machines at 7-Eleven’s 762 stores Down Under.


duy-nguyen-chc4fOOnxZ8-unsplash.jpg
7-Eleven will start phasing out its ATMs from its stores. Credit: Unsplash



A spokesperson for 7-Eleven explained the decision as a response to ‘reducing our ATM footprint’.

'As our offer evolves, some ranges and services are removed to provide room for new and high-demand offers,' they said.

'We are reducing our ATM footprint to respond to changing customer needs, although some stores will continue to provide ATM facilities.'

The move towards a cashless society has been gaining momentum in Australia for some time now.

A Reserve Bank report released last month showed that 73 per cent of transactions under $10 in 2022 were done with a card, compared with just over half in 2019.



Armaguard and Prosegur Australia obtained regulatory approval to merge, which gave Linfox Armaguard a 90 per cent share of Australia’s cash-in-transit supermarket.

Linfox Armaguard Group, the nation's biggest banknote delivery company, recently admitted that its business model was under threat due to the declining use of cash despite having a near monopoly.

The company's CEO, Mick Cronin, stated that he couldn't guarantee the company could still deliver cash in three years' time.

'As cash usage declines, the cost of moving cash around becomes more expensive, and the industry needs to develop a long-term and sustainable solution,' Cronin said.

He hinted that future cash delivery would require government intervention, as his company held urgent talks with the Australian Banking Association.

‘Linfox Armaguard is working with Treasury, the RBA, the ABA, major banks and related parties to devise a sustainable industry solution for the ongoing provision of cash in Australia,’ he said.


giovanni-gagliardi-b1omwFGldMU-unsplash.jpg
The phasing out of ATMs in 7-Eleven stores is just one part of a larger trend. Credit: Unsplash



During the last financial year, 718 automatic teller machines were removed, according to data from the Australian Prudential Regulation Authority (APRA). This occurred as 424 bank branches closed in the year to June.

The number of branches has plunged by over a third, or 37 per cent, since June 2017, but in six years, the number of ATMs has plummeted by 59 per cent.

Australia now has 5,693 ATMs still in existence—less than half the 13,814 level of June 2017. The number of bank branches has fallen to 3,588, down from 5,694.



According to finance expert Sarah Wells, she revealed that Australia has already 'lost' a billion dollars worth of physical cash from circulation.

While this money still exists in digital form, the trend of consumers opting to go cashless has nearly caused notes and coins to become obsolete, according to Wells. You can read more about it here.
Key Takeaways
  • 7-Eleven has confirmed plans to reduce the number of ATMs in their stores across Australia.
  • This decision aligns with the country's shift towards becoming more cashless, reflecting changing customer behaviour.
  • Linfox Armaguard Group, which dominates the cash-in-transit market, expressed doubts about the viability of cash delivery beyond the next three years.
  • APRA data revealed a decline in the number of ATMs and bank branches, signifying a significant drop in the physical banking infrastructure.
What are your thoughts on this shift towards a cashless society? Have you been affected by the phasing out of ATMs? Share your experiences and thoughts in the comments below.
 
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The convenience of cashless transactions is undeniable, but what happens when the option to use cash starts to disappear?

This is a question many Australians are grappling with as 7-Eleven, one of the country's most popular convenience store chains, confirms it will begin to phase out ATMs from its stores.



This decision is a significant blow to customers who prefer or rely on cash transactions.

The move also sparked concerns about the difficulty of accessing cash machines at 7-Eleven’s 762 stores Down Under.


View attachment 37903
7-Eleven will start phasing out its ATMs from its stores. Credit: Unsplash



A spokesperson for 7-Eleven explained the decision as a response to ‘reducing our ATM footprint’.

'As our offer evolves, some ranges and services are removed to provide room for new and high-demand offers,' they said.

'We are reducing our ATM footprint to respond to changing customer needs, although some stores will continue to provide ATM facilities.'

The move towards a cashless society has been gaining momentum in Australia for some time now.

A Reserve Bank report released last month showed that 73 per cent of transactions under $10 in 2022 were done with a card, compared with just over half in 2019.



Armaguard and Prosegur Australia obtained regulatory approval to merge, which gave Linfox Armaguard a 90 per cent share of Australia’s cash-in-transit supermarket.

Linfox Armaguard Group, the nation's biggest banknote delivery company, recently admitted that its business model was under threat due to the declining use of cash despite having a near monopoly.

The company's CEO, Mick Cronin, stated that he couldn't guarantee the company could still deliver cash in three years' time.

'As cash usage declines, the cost of moving cash around becomes more expensive, and the industry needs to develop a long-term and sustainable solution,' Cronin said.

He hinted that future cash delivery would require government intervention, as his company held urgent talks with the Australian Banking Association.

‘Linfox Armaguard is working with Treasury, the RBA, the ABA, major banks and related parties to devise a sustainable industry solution for the ongoing provision of cash in Australia,’ he said.


View attachment 37902
The phasing out of ATMs in 7-Eleven stores is just one part of a larger trend. Credit: Unsplash



During the last financial year, 718 automatic teller machines were removed, according to data from the Australian Prudential Regulation Authority (APRA). This occurred as 424 bank branches closed in the year to June.

The number of branches has plunged by over a third, or 37 per cent, since June 2017, but in six years, the number of ATMs has plummeted by 59 per cent.

Australia now has 5,693 ATMs still in existence—less than half the 13,814 level of June 2017. The number of bank branches has fallen to 3,588, down from 5,694.



According to finance expert Sarah Wells, she revealed that Australia has already 'lost' a billion dollars worth of physical cash from circulation.

While this money still exists in digital form, the trend of consumers opting to go cashless has nearly caused notes and coins to become obsolete, according to Wells. You can read more about it here.
Key Takeaways

  • 7-Eleven has confirmed plans to reduce the number of ATMs in their stores across Australia.
  • This decision aligns with the country's shift towards becoming more cashless, reflecting changing customer behaviour.
  • Linfox Armaguard Group, which dominates the cash-in-transit market, expressed doubts about the viability of cash delivery beyond the next three years.
  • APRA data revealed a decline in the number of ATMs and bank branches, signifying a significant drop in the physical banking infrastructure.
What are your thoughts on this shift towards a cashless society? Have you been affected by the phasing out of ATMs? Share your experiences and thoughts in the comments below.
7-Eleven you will never have my custom and many more should boycott your shit sevo's 🤬🤬🤬🤬🤬🤬
 
The convenience of cashless transactions is undeniable, but what happens when the option to use cash starts to disappear?

This is a question many Australians are grappling with as 7-Eleven, one of the country's most popular convenience store chains, confirms it will begin to phase out ATMs from its stores.



This decision is a significant blow to customers who prefer or rely on cash transactions.

The move also sparked concerns about the difficulty of accessing cash machines at 7-Eleven’s 762 stores Down Under.


View attachment 37903
7-Eleven will start phasing out its ATMs from its stores. Credit: Unsplash



A spokesperson for 7-Eleven explained the decision as a response to ‘reducing our ATM footprint’.

'As our offer evolves, some ranges and services are removed to provide room for new and high-demand offers,' they said.

'We are reducing our ATM footprint to respond to changing customer needs, although some stores will continue to provide ATM facilities.'

The move towards a cashless society has been gaining momentum in Australia for some time now.

A Reserve Bank report released last month showed that 73 per cent of transactions under $10 in 2022 were done with a card, compared with just over half in 2019.



Armaguard and Prosegur Australia obtained regulatory approval to merge, which gave Linfox Armaguard a 90 per cent share of Australia’s cash-in-transit supermarket.

Linfox Armaguard Group, the nation's biggest banknote delivery company, recently admitted that its business model was under threat due to the declining use of cash despite having a near monopoly.

The company's CEO, Mick Cronin, stated that he couldn't guarantee the company could still deliver cash in three years' time.

'As cash usage declines, the cost of moving cash around becomes more expensive, and the industry needs to develop a long-term and sustainable solution,' Cronin said.

He hinted that future cash delivery would require government intervention, as his company held urgent talks with the Australian Banking Association.

‘Linfox Armaguard is working with Treasury, the RBA, the ABA, major banks and related parties to devise a sustainable industry solution for the ongoing provision of cash in Australia,’ he said.


View attachment 37902
The phasing out of ATMs in 7-Eleven stores is just one part of a larger trend. Credit: Unsplash



During the last financial year, 718 automatic teller machines were removed, according to data from the Australian Prudential Regulation Authority (APRA). This occurred as 424 bank branches closed in the year to June.

The number of branches has plunged by over a third, or 37 per cent, since June 2017, but in six years, the number of ATMs has plummeted by 59 per cent.

Australia now has 5,693 ATMs still in existence—less than half the 13,814 level of June 2017. The number of bank branches has fallen to 3,588, down from 5,694.



According to finance expert Sarah Wells, she revealed that Australia has already 'lost' a billion dollars worth of physical cash from circulation.

While this money still exists in digital form, the trend of consumers opting to go cashless has nearly caused notes and coins to become obsolete, according to Wells. You can read more about it here.
Key Takeaways

  • 7-Eleven has confirmed plans to reduce the number of ATMs in their stores across Australia.
  • This decision aligns with the country's shift towards becoming more cashless, reflecting changing customer behaviour.
  • Linfox Armaguard Group, which dominates the cash-in-transit market, expressed doubts about the viability of cash delivery beyond the next three years.
  • APRA data revealed a decline in the number of ATMs and bank branches, signifying a significant drop in the physical banking infrastructure.
What are your thoughts on this shift towards a cashless society? Have you been affected by the phasing out of ATMs? Share your experiences and thoughts in the comments below.😠😠😡😡😡😡😡😡
 
BAD MOVE, 7-ELEVEN!!! I’ve been a loyal customer to 7-Eleven for over 20 years now. I shop there daily and fuel up there at least 3 times per week. If you won’t take my “LEGAL TENDER” CASH then you won’t get my business anymore! PLUS, I have studied law and it is actually illegal for any business to not accept Australian Legal Tender (Cash) as payment for any goods or services within Australia! FINALLY, The first time I get scammed as a result of having to use a cashless transaction I will be demanding all politicians (and anyone else involved in making this move) to be sacked and imprisoned for facilitating crime!!!!!!!! 😡😡😡😡😡😡
Unless I’ve read it wrong there’s nothing about paying with cash it’s the atms they are removing.
 
BAD MOVE, 7-ELEVEN!!! I’ve been a loyal customer to 7-Eleven for over 20 years now. I shop there daily and fuel up there at least 3 times per week. If you won’t take my “LEGAL TENDER” CASH then you won’t get my business anymore! PLUS, I have studied law and it is actually illegal for any business to not accept Australian Legal Tender (Cash) as payment for any goods or services within Australia! FINALLY, The first time I get scammed as a result of having to use a cashless transaction I will be demanding all politicians (and anyone else involved in making this move) to be sacked and imprisoned for facilitating crime!!!!!!!! 😡😡😡😡😡😡
You may want to refresh your knowledge of the law as it is NOT illegal to refuse cash at all, no matter how much we may not like it. What you have stated is simply NOT true. Since you claim to have studied law here is a quote from a legal source https://lawpath.com.au/blog/is-it-legal-for-a-business-to-refuse-payment-by-cash and one from the ACCC https://www.accc.gov.au/business/selling-products-and-services/payment-methods
 
The convenience of cashless transactions is undeniable, but what happens when the option to use cash starts to disappear?

This is a question many Australians are grappling with as 7-Eleven, one of the country's most popular convenience store chains, confirms it will begin to phase out ATMs from its stores.



This decision is a significant blow to customers who prefer or rely on cash transactions.

The move also sparked concerns about the difficulty of accessing cash machines at 7-Eleven’s 762 stores Down Under.


View attachment 37903
7-Eleven will start phasing out its ATMs from its stores. Credit: Unsplash



A spokesperson for 7-Eleven explained the decision as a response to ‘reducing our ATM footprint’.

'As our offer evolves, some ranges and services are removed to provide room for new and high-demand offers,' they said.

'We are reducing our ATM footprint to respond to changing customer needs, although some stores will continue to provide ATM facilities.'

The move towards a cashless society has been gaining momentum in Australia for some time now.

A Reserve Bank report released last month showed that 73 per cent of transactions under $10 in 2022 were done with a card, compared with just over half in 2019.



Armaguard and Prosegur Australia obtained regulatory approval to merge, which gave Linfox Armaguard a 90 per cent share of Australia’s cash-in-transit supermarket.

Linfox Armaguard Group, the nation's biggest banknote delivery company, recently admitted that its business model was under threat due to the declining use of cash despite having a near monopoly.

The company's CEO, Mick Cronin, stated that he couldn't guarantee the company could still deliver cash in three years' time.

'As cash usage declines, the cost of moving cash around becomes more expensive, and the industry needs to develop a long-term and sustainable solution,' Cronin said.

He hinted that future cash delivery would require government intervention, as his company held urgent talks with the Australian Banking Association.

‘Linfox Armaguard is working with Treasury, the RBA, the ABA, major banks and related parties to devise a sustainable industry solution for the ongoing provision of cash in Australia,’ he said.


View attachment 37902
The phasing out of ATMs in 7-Eleven stores is just one part of a larger trend. Credit: Unsplash



During the last financial year, 718 automatic teller machines were removed, according to data from the Australian Prudential Regulation Authority (APRA). This occurred as 424 bank branches closed in the year to June.

The number of branches has plunged by over a third, or 37 per cent, since June 2017, but in six years, the number of ATMs has plummeted by 59 per cent.

Australia now has 5,693 ATMs still in existence—less than half the 13,814 level of June 2017. The number of bank branches has fallen to 3,588, down from 5,694.



According to finance expert Sarah Wells, she revealed that Australia has already 'lost' a billion dollars worth of physical cash from circulation.

While this money still exists in digital form, the trend of consumers opting to go cashless has nearly caused notes and coins to become obsolete, according to Wells. You can read more about it here.
Key Takeaways

  • 7-Eleven has confirmed plans to reduce the number of ATMs in their stores across Australia.
  • This decision aligns with the country's shift towards becoming more cashless, reflecting changing customer behaviour.
  • Linfox Armaguard Group, which dominates the cash-in-transit market, expressed doubts about the viability of cash delivery beyond the next three years.
  • APRA data revealed a decline in the number of ATMs and bank branches, signifying a significant drop in the physical banking infrastructure.
What are your thoughts on this shift towards a cashless society? Have you been affected by the phasing out of ATMs? Share your experiences and thoughts in the comments below.
Without the facility of the convenience of ATM's at Seven Eleven's I really have no merit of shopping or using the Seven Eleven?.
 
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7-Eleven you will never have my custom and many more should boycott your shit sevo's 🤬🤬🤬🤬🤬🤬
These businesses keep relying on stats that the banks engineered by:

1. making in branch/cash and more recently ATM transactions cost the customer in terms of fees; and

2. dragging (or inviting haha) customers standing in bank queues over to tech options

to CREATE the decrease in branch/cash use.
 
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Unless I’ve read it wrong there’s nothing about paying with cash it’s the atms they are removing.
Yes, it is subtle, the removal but it's purpose is to take away a source that provides cash for customers to use to make purchases.
 
7-Eleven did not say they are going cashless. They said they are removing ATM'S. You simply need to have cash before you arrive at the store.
But if you've always withdrawn cash for purchases, suddenly, you can't.

A majority of these customers who have been withdrawing cash at 7/11 ATMs would not go searching for an alternative ATM. They'd most likely say 'oh ok, I'll use my card'.

Mission achieved.
 
Crying out loud you people just because there’s no atm in the store doesn’t mean you can’t use cash in the store
 
Sorry just because they don’t have an atm doesn’t mean you can’t buy with cash in the store you just can’t access cash withdrawal in the store
 
Just something I've noticed over the last couple of weeks. The Commonwealth Bank has two ATMs outside the main shopping centre near where I live in streets about 500 metres away. Both have been constantly "out of service" during the last couple of weeks. A subtle case of planned obsolescence due to lack of maintenance? Methinks so!

And don't talk about Mordialloc! Walking up and down the main street, I could not find ONE ATM nor ONE branch of any bank whatsoever. This is south east Melbourne I'm talking about, not f**king Louth in far north western New South Wales!
 

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