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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My friends on social media are all postin their screenshots of their withdrawal, so here is mine, and that of one friend.

It's not too late to stand in solidarity with those who value the use of cash.
Ultimately we know the CBDC (Central Bank Digital Currency) may push out the use of cash.

The new Digital ID that Labor pushed through the Senate (under a gag order stone-walling all chance of debate) will make all our private cash transactions no longer our private business.

Meanwhile - a day at a time.
We push that cashless day back further for the sake of future generations.
 

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Idiots that want a cashless society and pushing it hard is bank's no cash you sheep are at the discretion of the bank's that will charge you fee's to top up their billions in profits on every transaction as cash notes don't deprecate unlike you bank account every time you use the card stop being lazy fool's it your money use it cash 🤬🤬🤬🤬🤬🤬
 
It's a bit like the "peeing in your own wetsuit" syndrome. You get an immediate feeling of relief, you get a warm, fuzzy feeling and, best of all, nobody else knows you're doing it ...
 
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Reactions: Ingot and Davmes
My friends on social media are all postin their screenshots of their withdrawal, so here is mine, and that of one friend.

It's not too late to stand in solidarity with those who value the use of cash.
Ultimately we know the CBDC (Central Bank Digital Currency) may push out the use of cash.

The new Digital ID that Labor pushed through the Senate (under a gag order stone-walling all chance of debate) will make all our private cash transactions no longer our private business.

Meanwhile - a day at a time.
We push that cashless day back further for the sake of future generations.
How do you buy on Facebook marketplace without cash private people do not have credit card facilities. How would children receive pocket money ? We will always need cash
 
It is stupid. You need cash. There are Sunday markets, your usual fruit & veg markets. Homeless in the street. Buskers relying on cash. Opportunity shops. Garage sales. So many relying on cash. Also most places are now charging us extra if we use a credit card. What about people who do not have a credit card. Do not have a phone? I know of a few that do not have either. It is beyond stupid, we need cash.
 
It is stupid. You need cash. There are Sunday markets, your usual fruit & veg markets. Homeless in the street. Buskers relying on cash. Opportunity shops. Garage sales. So many relying on cash. Also most places are now charging us extra if we use a credit card. What about people who do not have a credit card. Do not have a phone? I know of a few that do not have either. It is beyond stupid, we need cash
 
Yep, I withdrew out cash yesterday as I do each fortnight, I pay cash as much as I can. What will happen if no cash t9 the kids pocket money, birthday money from nan and pa, the market where people try to supplement their income.. and a funny thought hit me the other day,…. two end of the spectrum .. what happens to the drug dealers and their cash stashes 😂😂and the tooth fairies..all will be out of work 😂😂
 
I've never had a credit card and a mobile phone is useless to me. I prefer cash but have to use an ATM because my bank is now in Brisbane and . using a disability scooter, I can't easily get into any bank. I really get pissed off at the owners of these machines who rip us off every time we want some money. I'm so sick of this world greed.
 
Yep, I withdrew out cash yesterday as I do each fortnight, I pay cash as much as I can. What will happen if no cash t9 the kids pocket money, birthday money from nan and pa, the market where people try to supplement their income.. and a funny thought hit me the other day,…. two end of the spectrum .. what happens to the drug dealers and their cash stashes 😂😂and the tooth fairies..all will be out of work 😂😂
NO NO NO Not the Tooth Fairy.
🧚‍♀️🧚‍♀️ 😸
 
My friends on social media are all postin their screenshots of their withdrawal, so here is mine, and that of one friend.

It's not too late to stand in solidarity with those who value the use of cash.
Ultimately we know the CBDC (Central Bank Digital Currency) may push out the use of cash.

The new Digital ID that Labor pushed through the Senate (under a gag order stone-walling all chance of debate) will make all our private cash transactions no longer our private business.

Meanwhile - a day at a time.
We push that cashless day back further for the sake of future generations.
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!
 

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