Advocates call for nationwide cash withdrawal to protest against potential cashless society

In a world where digital transactions are becoming the norm, there's a group of Australians who are standing firm on the value of cold, hard cash.

And they are making their voices heard in a unique way—participating in a nationwide protest.

This event is a call to action for those who are concerned about the increasing trend towards a cashless society.


The initiative, dubbed ‘Draw Out Some Cash Day’, encourages Australians to visit their local ATMs and withdraw cash to demonstrate the ongoing need for physical currency.

Pro-cash advocate Jason Bryce, one of the voices championing this cause, expressed his full support for the movement, stating, 'I don't know who started it, but I'm backing it 100 per cent and promoting the idea that Tuesday is cash-out day and, you know, use it or lose it. Let's keep cash alive.’

‘It's like a vote. It's almost like we're voting to keep cash on Tuesday.’


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People organised ‘Draw Out Some Cash Day’ to protest against the increasing cashless trend in Australia. Credits: Shutterstock


The demonstration originated on social media, with individuals sharing comparable messages advocating for the depletion of cash from ATMs.

Additionally, advocates from other parts of the world also posted similar calls for action.

‘If everyone did this, it would draw thousands of $$$ out into the community, and banks would be running around to refill ATMs,’ one poster explained.

‘We want this to go nationwide. Tell your friends. Never let cash vanish.’


The unified effort coincided with banks scaling back their presence across Australia.

Over recent years, numerous branches were closed as financial institutions contend with Australians increasingly conducting their banking and payment activities online.

Moreover, there has been a significant decrease in the usage of cash.

The Reserve Bank of Australia (RBA) reported a significant decline in cash usage, with 72 per cent of Australians classified as low-cash users in 2022—meaning they used physical cash for 20 per cent or less of their transactions—up from 50 per cent in 2019.

High-cash users, who rely on cash for 80 per cent of their transactions, have dwindled to just 7 per cent of the population, from 14 per cent in 2019.

Consumer cash payments also plummeted from 70 per cent in 2007 to just 13 per cent in 2022.


The future of cash in Australia is uncertain, especially with Armaguard, a key player in money transport, facing potential insolvency.

The embattled firm earlier rejected a $26 million rescue deal from the Reserve Bank of Australia (RBA), the four big banks, supermarkets, Australia Post, and retailer Wesfarmers.

According to Armaguard Group Chief Executive Mick Cronin, they are ‘working constructively with all its customers, including its retail customers, banks, and other key stakeholders, regarding both short-term and long-term financial solutions for the industry to remain sustainable’.

‘Armaguard continues to operate its full suite of services and is confident that over the coming months, it will get the business onto a long-term sustainable footing with appropriate support from the industry.’


Dr Angel Zhong, an Associate Professor of Finance at the Royal Melbourne Institute of Technology (RMIT), warned of the broader implications if companies like Armaguard were to collapse.

‘This increasing preference to use cashless payments is pushing businesses like Armaguard out,’ she said.

‘It will then further increase the cost of using cash for both business and consumers, and that will further accelerate this transition to a cashless society.’
Key Takeaways
  • A protest named 'Draw Out Some Cash Day' was organised to challenge the increasing cashless trend in Australia.
  • Pro-cash advocates are encouraging people to withdraw money from ATMs to demonstrate the continued demand for physical currency.
  • The number of Australians using cash had significantly declined, with only 7 per cent being classified as ‘high-cash users’ in 2022.
  • The future of cash logistics in Australia is uncertain as Armaguard, a key money transport company, faces potential insolvency and rejects a multimillion-dollar rescue deal.
What are your thoughts on the cashless trend? Have you participated in 'Draw Out Some Cash Day'? Do you feel the shift towards digital payments is leaving some people behind?

Share your experiences and opinions in the comments below.
 
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Ingot, I'm all for keeping cash alive but I have never used an ATM and looking at your receipt from one, I'm glad I don't use one, $3 for an ATM Operating Fee, geez that is a bit rude!! Why did you get charged that?? I hate parting with my money unless I really have to, I go over the counter to get my cash and no fee for doing so, well not yet anyway!
Yes - I did it just to show what goes on.
There are two ATM's side by side.
None for the Big4 anymore, and this is at a shopping centre.
I usually go to my own bank for our cash needs.
I used the ATM rather than going to the post office, just to support the purpose of the day.
The company that refills the ATM's will show increased withdrawals too.
We have to take some kind of action to prevent the loss of cash.
Our kids couldn't care less - everything is electronic for them.

New world I guess.

Dad was still using two Draft horses to plough when I was a lad ... sigh.
We had 35 Geurnsey cows - milking for cream for the butter factory, and kept the skim milk for the pigs.
You always get off-topic from me :)
 
The $3 fee is likely because that person used a private company ATM.

If you withdraw from the Arm owned by your bank, there's no fee.
I usually use the Post Office to withdraw cash - always free too.
Used the ATM because it was part of the action of the day.
No Big4 ATMs at our shopping centre.
But yes, it cost me alright.
 
I see a $3.00 charge od $50 withdrawal... no way would I use that facility.
I don't usually - the post office is always free.
I used the only available ATM - just so I supported the ATM Cash-out day.
There are two ATMs - and both charge the $3 fee. No Big4 ATMs any more.
 
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Yes, we do but these sorts of protests are useless. Personally, as an older person with mobility issues, I prefer to use my card as if someone takes my purse with cash in it it is gone forever ... a card can be cancelled and reissued with no loss of funds. I do use cash for some things and we should ALWAYS have a choice, but those of us who like to use cards are NOT idiots like some of you rude people have claimed!
We all have our opinions, and our needs are different.
But unless people stand up and take action over things with which we disagree, we would be taken for granted.
I disagree - -we DO make a difference.
Have you ever voted for a local politician - that makes a difference.
Have you ever phoned your local member to report something that either annoys you, or with which you need help?
If not, then you should. That's what they are there for.

These sorts of protests are what got you your mobility scooter, so are hardly useless.
If people didn't get organised and ask for things, they wouldn't be offered.
Today, leaving things to others is no longer an option.
 
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Ingot, I'm all for keeping cash alive but I have never used an ATM and looking at your receipt from one, I'm glad I don't use one, $3 for an ATM Operating Fee, geez that is a bit rude!! Why did you get charged that?? I hate parting with my money unless I really have to, I go over the counter to get my cash and no fee for doing so, well not yet anyway!
The person was charged because they used another operators ATM. There are many ATMs operated by businesses, NOT BANKS, so obviously you pay for that service. I NEVER use them because I don't want to pay them.
 
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The person was charged because they used another operators ATM. There are many ATMs operated by businesses, NOT BANKS, so obviously you pay for that service. I NEVER use them because I don't want to pay them.
True.
I usually just go to the Post Office.
They allow you to deposit and withdraw cash to any bank or Building Soc etc in Australia.
NO CHARGE.
 
The person was charged because they used another operators ATM. There are many ATMs operated by businesses, NOT BANKS, so obviously you pay for that service. I NEVER use them because I don't want to pay them.
Reminds me of words I heard many many years ago "'Eh by gum lad we're gooin back to t'old days when mi dad werked an' died in t'mines and yon big bosses gotten all t' brass fer doin nought "
 
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There is already a payment attached to using the card, though many don't realize or care
They must have full disclosure. It must appear on the printed receipt.
I always ask first if there is a charge that applies.
 
I take my cash out every fortnight and when its gone its gone and I start again .I dont have any extra fees to pay on top and if a shop says sorry no cash when i buy someting I say well you can keep it and Ill go somewhere else but they sometimes say I'll take cash this time only so I wont go back and theyll lose my business . geez its a sad world now so much greed .....
 
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