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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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.
Cheviegirl, I am with you!!
 
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
True, those online markets are full of scammers, and if you get caught the Banks don't care less. Like U say how will children learn the value of money.
 
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And pay bills by cheque sent through Australia Post. The date of postage is the legal date of payment. Date your cheque for the last day on which you are allowed to pay. That is the day the cheque is valid.
 
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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.
I see a $3.00 charge od $50 withdrawal... no way would I use that facility.
 
I withdraw a fortnight's worth of cash when I get paid, and also keep an emergency stash of about a month's cash at home. After the big floods in 2022, there was no eftpos here for about 10 days due to no internet, and those who didn't have cash were in real strife.
 
Keep paying cash, so Big Brother doesn’t keep an eye on us to see where/what we are spending our money. I got sick of paying fees when you spend small amounts on a credit card.
 
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I think this is a very smart move. ATM"S everywhere had line ups waiting for people to withdraw their cash. WE had to do something to let the banks know we DO NOT WANT A CASHLESS society.
 
Ah, but imposition of PR China's style of "social credit" and "security"cameras everywhere.................
 
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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.
You don't understand the Digital ID bill at all do you?
 
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.
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!
 
The government & banks will know EVERYTHING that you do,even how many times you use the toilet per month.
 
We all need to empty atms so there is no money left in them and start paying in cash again so these big companies will learn that they cannot dictate to the people that we are going cashless as it is still legal tender to use
 
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 $3 fee is likely because that person used a private company ATM.

If you withdraw from the ATM owned by your bank, there's no fee.
 
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I withdrew cash from my bank's ATM yesterday.

Do it, no harm.

Don't do it, you might be contributing to the death of cash.

Your choice.
 
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