Take a moment and recall your first foray into the world of banking.

Sunny days spent queuing in your local bank, waiting for that friendly teller who knew your name and provided that human touch to an otherwise intimidating transaction.

Now, imagine a virtual queue and a faceless algorithm replacing that pleasant teller. We hate to break it to you, but welcome to the modern age of banking.

Digital banking has experienced a surge in popularity, with a significant increase in the number of people embracing online and mobile banking platforms. This shift towards digital channels has transformed the way customers manage their finances. Image by Kampus Production from pexels

Recently, the Commonwealth Bank, Westpac, and ANZ collectively closed 650 branches across Australia.

You may have noticed your local branch disappearing, replaced by an unfamiliar digital landscape.

These closures have raised many eyebrows, causing a ripple of concern across the country, particularly among older communities.

'The Big Four claim people don't need face-to-face banking anymore. But for many older Australians, this is all they know.' notes 2GB's Mark Levy on traditional banking methods for many Australians.

National Seniors Australia’s Chief Advocate, Ian Henschke, echoes this sentiment, stating, 'While we understand the move towards a “cashless society”, these decisions should consider seniors.'

He went on to promote the importance of cash as a currency and the risk associated with online banking.

Henschke added, 'Some seniors may not be comfortable banking or doing business online because they’re not tech savvy, they’re fearful of potential online scams, cash is what they’ve always known, and they have no other way to make financial transactions.’

The rapid rise of digital banking can be overwhelming and intimidating for those who are not accustomed to managing their finances through online platforms, as they may feel uncertain or unfamiliar with the technical aspects involved. Image by Karolina Grabowska from pexels

Meanwhile, the Australian Banking Association (ABA) insists that banks are obliged to help customers navigate this new banking landscape and justify the specific closures.

This is all well and good, but what does it mean for you and me?

Consider this: a whopping 99 per cent of banking is now digital.

We've migrated from physical notes and coins to plastic cards and sleek gadgets.

This goes hand in hand with data showing a decline in cash payments from 70 per cent in 2007 to a meagre 13 per cent in 2022.

However, this forward march of progress hasn't been without a few stumbles.

Take, for instance, the recent glitch with Commonwealth Bank. Customers were left high and dry, unable to even make purchases with their cards. You can read more about this glitch here.

The incident underlined the pitfalls of over-reliance on online banking and highlighted the potential disruptions we could face.

Cyber-security expert Ben Britton warns of our growing dependency on the internet for financial transactions.

Britton explained, 'If there's no internet, there's no transactions, there's no access to your money...Whereas no one can remotely access the cash in your pocket.'

Key Takeaways

• Over 650 bank branches have closed in Australia since 2020, largely due to the shift towards digital banking, causing concerns for older Australians who rely on physical branches for their banking needs.
  
• New measures have been implemented by the Australian Banking Association, requiring banks to explain why they are closing certain branches and to offer support to customers needing assistance with alternative banking methods.
  
• There are heightened concerns about Australia becoming increasingly cashless, with cash representing only 13 per cent of customer payments in 2022, down from 70 per cent in 2007.
  
• This shift towards digital banking has sparked fears about the vulnerability of online systems, with recent outages demonstrating the potential frustrations and financial risks for customers relying solely on digital transactions.

Now, we're all for making life easier. But we also know some of our members might feel anxious about these banking changes.

We believe in empowerment through knowledge; here are a few tips to help you thrive in the digital banking era:

• Always keep an eye out for phishing scams, and remember your bank will never ask for your password.
• App updates usually bring better security. Always keep your banking app updated to the latest version.
• Keep a backup of important contacts. Having your bank’s customer service number can come in handy during emergencies.
• Lastly, don't hesitate to ask for assistance from your bank or trusted family members when it comes to digital banking. Remember, every expert was once a beginner.

Now, the shift to digital might not be everyone's favourite, b change isn't always a bitter pill to swallow!

The digital world can be intimidating, but with understanding and vigilance, we can conquer it together. Here at the Seniors Discount Club, we work to ensure that none of us will ever face these challenges alone.

Do you prefer traditional or digital banking? Share your thoughts or experiences in the comments section below.

 

[Luckyus]

Take a moment and recall your first foray into the world of banking.

Sunny days spent queuing in your local bank, waiting for that friendly teller who knew your name and provided that human touch to an otherwise intimidating transaction.

Now, imagine a virtual queue and a faceless algorithm replacing that pleasant teller. We hate to break it to you, but welcome to the modern age of banking.

View attachment 23654

Digital banking has experienced a surge in popularity, with a significant increase in the number of people embracing online and mobile banking platforms. This shift towards digital channels has transformed the way customers manage their finances. Image by Kampus Production from pexels

Recently, the Commonwealth Bank, Westpac, and ANZ collectively closed 650 branches across Australia.

You may have noticed your local branch disappearing, replaced by an unfamiliar digital landscape.

These closures have raised many eyebrows, causing a ripple of concern across the country, particularly among older communities.

'The Big Four claim people don't need face-to-face banking anymore. But for many older Australians, this is all they know.' notes 2GB's Mark Levy on traditional banking methods for many Australians.

National Seniors Australia’s Chief Advocate, Ian Henschke, echoes this sentiment, stating, 'While we understand the move towards a “cashless society”, these decisions should consider seniors.'

He went on to promote the importance of cash as a currency and the risk associated with online banking.

Henschke added, 'Some seniors may not be comfortable banking or doing business online because they’re not tech savvy, they’re fearful of potential online scams, cash is what they’ve always known, and they have no other way to make financial transactions.’

View attachment 23655

The rapid rise of digital banking can be overwhelming and intimidating for those who are not accustomed to managing their finances through online platforms, as they may feel uncertain or unfamiliar with the technical aspects involved. Image by Karolina Grabowska from pexels

Meanwhile, the Australian Banking Association (ABA) insists that banks are obliged to help customers navigate this new banking landscape and justify the specific closures.

This is all well and good, but what does it mean for you and me?

Consider this: a whopping 99 per cent of banking is now digital.

We've migrated from physical notes and coins to plastic cards and sleek gadgets.

This goes hand in hand with data showing a decline in cash payments from 70 per cent in 2007 to a meagre 13 per cent in 2022.

However, this forward march of progress hasn't been without a few stumbles.

Take, for instance, the recent glitch with Commonwealth Bank. Customers were left high and dry, unable to even make purchases with their cards. You can read more about this glitch here.

The incident underlined the pitfalls of over-reliance on online banking and highlighted the potential disruptions we could face.

Cyber-security expert Ben Britton warns of our growing dependency on the internet for financial transactions.

Britton explained, 'If there's no internet, there's no transactions, there's no access to your money...Whereas no one can remotely access the cash in your pocket.'

Key Takeaways

• Over 650 bank branches have closed in Australia since 2020, largely due to the shift towards digital banking, causing concerns for older Australians who rely on physical branches for their banking needs.
• New measures have been implemented by the Australian Banking Association, requiring banks to explain why they are closing certain branches and to offer support to customers needing assistance with alternative banking methods.
• There are heightened concerns about Australia becoming increasingly cashless, with cash representing only 13 per cent of customer payments in 2022, down from 70 per cent in 2007.
• This shift towards digital banking has sparked fears about the vulnerability of online systems, with recent outages demonstrating the potential frustrations and financial risks for customers relying solely on digital transactions.

Now, we're all for making life easier. But we also know some of our members might feel anxious about these banking changes.

We believe in empowerment through knowledge; here are a few tips to help you thrive in the digital banking era:

• Always keep an eye out for phishing scams, and remember your bank will never ask for your password.
• App updates usually bring better security. Always keep your banking app updated to the latest version.
• Keep a backup of important contacts. Having your bank’s customer service number can come in handy during emergencies.
• Lastly, don't hesitate to ask for assistance from your bank or trusted family members when it comes to digital banking. Remember, every expert was once a beginner.

Now, the shift to digital might not be everyone's favourite, b change isn't always a bitter pill to swallow!

The digital world can be intimidating, but with understanding and vigilance, we can conquer it together. Here at the Seniors Discount Club, we work to ensure that none of us will ever face these challenges alone.

Do you prefer traditional or digital banking? Share your thoughts or experiences in the comments section below.

I blame the idiot tap and go who are willing to also pay the surcharge for a cup of coffee, instead of paying cash.

 

[Nandy]

I have been hacked twice. NowI only use cash. Ifany one won’t accept my money I’ll either not shop there or if I have already got my grocery, I’ll walk out with my shopping because it’s not that I want to steal from them but it’s because they don’t want to accept my money!!! No one should tell someone else to use their card. It should be a personal choice.

 

[janj]

mum still has her bank book she is 90 won't have a card and why should she

 

[AlanQ]

The Post Office does everything that people would, Once in a Blue Moon go to do at the bank. Don't see the issue, couldn't tell you the last time I walked into a bank, other than it was pre covid.

 

[Pink lion]

Story by Stephen Johnson, Economics Reporter For Daily Mail Australia • Yesterday 29/6/2023

• Melbourne set to be worst affected by AI
• AI tipped to replace white collar jobs soon

Mortgage belt suburbs with a high concentration of white-collar professionals risk being turned into middle class 'rust belts' in just two years as artificial intelligence rapidly replaces jobs, a data expert says.



An analysis by Suburb trends showed Melbourne is home to 14 of the 20 worst affected postcodes across Australia, with Sydney taking four spots and regional NSW having two places: Dubbo and Port Macquarie.

The property data group's founder Kent Lardner said AI and its large language models were likely to soon be performing the jobs now done by public servants and business administrators.

It is also poised to take over many jobs from lawyers to accountants, journalists to bankers, in as little as two years.

xxxxxxxxxxxxxxxx

I saw an interview about ten years back on SBS where three people, one the interviewer, discussed the corporate sector.

The camera showed a repetition of deserted offices with no people just a large, encased metal box about the size of a local shops ice-cream freezer.
Nodding with approval amongst themselves, while puffing on cigars it was agreed that this is the idea business no employees no sick days.
They said with all nodding in agreement, just wait till AI gets here..... then everything will change fast.
It does seem to be the case.

 

[Marj53]

I still use my bank if I have coins to be put in machine to be counted and then draw money out. Also I go into the branch if I have a problem with my account. Much quicker than trying to ring when you have a problem.

 

[Janei]

Take a moment and recall your first foray into the world of banking.

Sunny days spent queuing in your local bank, waiting for that friendly teller who knew your name and provided that human touch to an otherwise intimidating transaction.

Now, imagine a virtual queue and a faceless algorithm replacing that pleasant teller. We hate to break it to you, but welcome to the modern age of banking.

View attachment 23654

Digital banking has experienced a surge in popularity, with a significant increase in the number of people embracing online and mobile banking platforms. This shift towards digital channels has transformed the way customers manage their finances. Image by Kampus Production from pexels

Recently, the Commonwealth Bank, Westpac, and ANZ collectively closed 650 branches across Australia.

You may have noticed your local branch disappearing, replaced by an unfamiliar digital landscape.

These closures have raised many eyebrows, causing a ripple of concern across the country, particularly among older communities.

'The Big Four claim people don't need face-to-face banking anymore. But for many older Australians, this is all they know.' notes 2GB's Mark Levy on traditional banking methods for many Australians.

National Seniors Australia’s Chief Advocate, Ian Henschke, echoes this sentiment, stating, 'While we understand the move towards a “cashless society”, these decisions should consider seniors.'

He went on to promote the importance of cash as a currency and the risk associated with online banking.

Henschke added, 'Some seniors may not be comfortable banking or doing business online because they’re not tech savvy, they’re fearful of potential online scams, cash is what they’ve always known, and they have no other way to make financial transactions.’

View attachment 23655

The rapid rise of digital banking can be overwhelming and intimidating for those who are not accustomed to managing their finances through online platforms, as they may feel uncertain or unfamiliar with the technical aspects involved. Image by Karolina Grabowska from pexels

Meanwhile, the Australian Banking Association (ABA) insists that banks are obliged to help customers navigate this new banking landscape and justify the specific closures.

This is all well and good, but what does it mean for you and me?

Consider this: a whopping 99 per cent of banking is now digital.

We've migrated from physical notes and coins to plastic cards and sleek gadgets.

This goes hand in hand with data showing a decline in cash payments from 70 per cent in 2007 to a meagre 13 per cent in 2022.

However, this forward march of progress hasn't been without a few stumbles.

Take, for instance, the recent glitch with Commonwealth Bank. Customers were left high and dry, unable to even make purchases with their cards. You can read more about this glitch here.

The incident underlined the pitfalls of over-reliance on online banking and highlighted the potential disruptions we could face.

Cyber-security expert Ben Britton warns of our growing dependency on the internet for financial transactions.

Britton explained, 'If there's no internet, there's no transactions, there's no access to your money...Whereas no one can remotely access the cash in your pocket.'

Key Takeaways

• Over 650 bank branches have closed in Australia since 2020, largely due to the shift towards digital banking, causing concerns for older Australians who rely on physical branches for their banking needs.
• New measures have been implemented by the Australian Banking Association, requiring banks to explain why they are closing certain branches and to offer support to customers needing assistance with alternative banking methods.
• There are heightened concerns about Australia becoming increasingly cashless, with cash representing only 13 per cent of customer payments in 2022, down from 70 per cent in 2007.
• This shift towards digital banking has sparked fears about the vulnerability of online systems, with recent outages demonstrating the potential frustrations and financial risks for customers relying solely on digital transactions.

Now, we're all for making life easier. But we also know some of our members might feel anxious about these banking changes.

We believe in empowerment through knowledge; here are a few tips to help you thrive in the digital banking era:

• Always keep an eye out for phishing scams, and remember your bank will never ask for your password.
• App updates usually bring better security. Always keep your banking app updated to the latest version.
• Keep a backup of important contacts. Having your bank’s customer service number can come in handy during emergencies.
• Lastly, don't hesitate to ask for assistance from your bank or trusted family members when it comes to digital banking. Remember, every expert was once a beginner.

Now, the shift to digital might not be everyone's favourite, b change isn't always a bitter pill to swallow!

The digital world can be intimidating, but with understanding and vigilance, we can conquer it together. Here at the Seniors Discount Club, we work to ensure that none of us will ever face these challenges alone.

Do you prefer traditional or digital banking? Share your thoughts or experiences in the comments section below.

I want to have a choice. I do not want to be told 'you have got no option' and that is what is slowly happening. This is supposed to be a free country not China or Russia. Also, of course, the Government of the day will be able to check on every single cent of where my money goes. where it comes from and what I do with it. Big brother with another father is watching.

 

[Pommyoz]

The Post Office does everything that people would, Once in a Blue Moon go to do at the bank. Don't see the issue, couldn't tell you the last time I walked into a bank, other than it was pre covid.

Unless you bank with the ANZ. Post office is useless then.

 

[Pommyoz]

My ANZ closed its doors, now you have to travel half hour to get money out. I can’t seem to get money out of my app!
I opened account with B…….o bank. Well, what a debacle. The app was so awkward to use, wouldn’t work at times, in utter frustration, I closed account, took my cash down to Bank A…….., they kindly sat me down at a computer, showed me their app, step by every little step I learnt how to bank. Well was I dumbfounded. Lovely bank, easy app, I am so happy the ANZ closed its doors and the other band was useless. Although I feel very sorry for others who cannot bank happily and safely.

 

[NotNats]

All banks need to live in the real world and not just so called "Data World". Maybe in another 50 years we might be able to live without bank branches and do everything online, but until then the bank's branches (especially in country areas) need to stay open. Easy fix for country bank branches - all get together and rent one building and share the space and safe space. Even if it means each bank is only open for a few hours once or twice a week. At least that way who every needs to visit/use a branch will have access to one and the big banks also win by cutting down there so called "overhead costs".

 

[Pink lion]

Ever since I first opened my baby blue eyes and had a look around, I have considered (most) humans worth supporting over technology as it can be very detrimental to us.

Technology is okay but for problem solving, however a chat bot is useless except for data retrieval and ts a real gift to be able to still talk to support and converse with bank tellers.

Don't get me wrong, I had a torrid love affair with a vertical grill and a fully hotted up Hr holden utility once, and I have had numerous sound system affairs over the years.

But when it comes to supporting technology over people being able to support their mortgages and life a great WorkLife, I much prefer supporting my own species.

I know it makes a lot more financial sense to remove us and take directions from rarely updated computers as this is the corporate dream, but it's just the way I am.

I never did get into daily social programming by tell a vision's as it isn't my vision but its easy to see those that did.

Life away from electromagnetic radiation in amongst Mother nature the waters and the tweety-birds is far more my speed.

We need to keep humans in the equation until AI removes us.
They self-create, self-repair, do not breathe air and have no set lifespan, so it's possible one day, no doubt about it.

Just not yet. HUMANS RULE OK.

Ha Ha Ha this should be a t-shirt... lol

 

[Milica]

All banks need to live in the real world and not just so called "Data World". Maybe in another 50 years we might be able to live without bank branches and do everything online, but until then the bank's branches (especially in country areas) need to stay open. Easy fix for country bank branches - all get together and rent one building and share the space and safe space. Even if it means each bank is only open for a few hours once or twice a week. At least that way who every needs to visit/use a branch will have access to one and the big banks also win by cutting down there so called "overhead costs".

That's common sense - and very much needed in regional areas - i wonder if the well paid heads of our banks have even thought of this or more to the point even care! Instead they would be thinking, about the savings of staff wages and the cost of leasing the building instead of thinking about there country customers, and the need to still have banks in country towns! Great Idea & it would work.

 

[Jennylolo]

and covid making business refuse cash and some still do. To include these last few years as real usage is wrong. And its not just seniors . There are younger- 30s I know a few, which do not have cards and no phone! They still require ATMs/cash as do seniors. What happens to - the by donation, helping homeless and so on.

 

[Pommyoz]

All banks need to live in the real world and not just so called "Data World". Maybe in another 50 years we might be able to live without bank branches and do everything online, but until then the bank's branches (especially in country areas) need to stay open. Easy fix for country bank branches - all get together and rent one building and share the space and safe space. Even if it means each bank is only open for a few hours once or twice a week. At least that way who every needs to visit/use a branch will have access to one and the big banks also win by cutting down there so called "overhead costs".

YES, YES, and many more YESSES
I have always said that should be done. Even opening when the Post Office is closed would help.
These people need to get out of their box and live in the world of endless circles for a decade or so!
I cant stop saying YES, thank you Notnats

 

[Pommyoz]

Ever since I first opened my baby blue eyes and had a look around, I have considered (most) humans worth supporting over technology as it can be very detrimental to us.

Technology is okay but for problem solving, however a chat bot is useless except for data retrieval and ts a real gift to be able to still talk to support and converse with bank tellers.

Don't get me wrong, I had a torrid love affair with a vertical grill and a fully hotted up Hr holden utility once, and I have had numerous sound system affairs over the years.

But when it comes to supporting technology over people being able to support their mortgages and life a great WorkLife, I much prefer supporting my own species.

I know it makes a lot more financial sense to remove us and take directions from rarely updated computers as this is the corporate dream, but it's just the way I am.

I never did get into daily social programming by tell a vision's as it isn't my vision but its easy to see those that did.

Life away from electromagnetic radiation in amongst Mother nature the waters and the tweety-birds is far more my speed.

We need to keep humans in the equation until AI removes us.
They self-create, self-repair, do not breathe air and have no set lifespan, so it's possible one day, no doubt about it.

Just not yet. HUMANS RULE OK.

Ha Ha Ha this should be a t-shirt... lol

Make the t-shirt read: HUMANS RULE - OKAY?? sorry cos yours interprets we are ok as rulers.

 

[Pink lion]

Make the t-shirt read: HUMANS RULE - OKAY?? sorry cos yours interprets we are ok as rulers.

Comedy is a measurement of our life attitude hey.

With all the troubles in the world, my choice is to not get stuck on a person's word use and instead look at why the chosen word was applied.

Words do hold energy in space, this is true. And each word can create a sentence that offers different food for thought to all that read them. this is also true.

Every word can have so many different references, that can change dramatically, due to a person's intention or to how they personally feel about a word, that it's a challenge to use them in a public forum, lest they be taken out of context.

Personally, I merely felt to amuse myself with a response regarding the massive job losses that are to be expected right throughout the business sector soon as the msn link that I posted had recently reported on.

I applied a word that for sure like any other word can be applied negatively if that's the intention, but it wasn't mine.

Negativity was not the essence of my post. that word Rule, is to describe how we humans as carbon based bipedal electromagnetic biomechanical organisms, currently influence our planets evolution, more than cybernetic electromagnetic machines do, though they are coming for millions of human jobs.

I made a joke about how we should make t-shirts to remind corporate executives that we all share similar D.N.A

I merely chucked in one word, as it describes our species current evolutionary standing, cause its faster I guess

Writing all of that on a t-shirt hasn't the same Byte me intention, to the CyberTron's, pushing for cybernetic organisms and high-tech data machines to take away jobs that people need, as this was the post I had responded too.

I personally never thought about it as deep as this, so thank you, I apologize that you found it offensive. however, I really did appreciate your reaction, because it caused me to think about why I may have written it.

When it comes to relating a t-shirt comment about, for me it still has that two-word impact.
Humans sitting hugging dogs and cats with birds on their heads and a menagerie behind really could sell.

I'd wear one.

 

[Shane/#]

Take a moment and recall your first foray into the world of banking.

Sunny days spent queuing in your local bank, waiting for that friendly teller who knew your name and provided that human touch to an otherwise intimidating transaction.

Now, imagine a virtual queue and a faceless algorithm replacing that pleasant teller. We hate to break it to you, but welcome to the modern age of banking.

View attachment 23654

Digital banking has experienced a surge in popularity, with a significant increase in the number of people embracing online and mobile banking platforms. This shift towards digital channels has transformed the way customers manage their finances. Image by Kampus Production from pexels

Recently, the Commonwealth Bank, Westpac, and ANZ collectively closed 650 branches across Australia.

You may have noticed your local branch disappearing, replaced by an unfamiliar digital landscape.

These closures have raised many eyebrows, causing a ripple of concern across the country, particularly among older communities.

'The Big Four claim people don't need face-to-face banking anymore. But for many older Australians, this is all they know.' notes 2GB's Mark Levy on traditional banking methods for many Australians.

National Seniors Australia’s Chief Advocate, Ian Henschke, echoes this sentiment, stating, 'While we understand the move towards a “cashless society”, these decisions should consider seniors.'

He went on to promote the importance of cash as a currency and the risk associated with online banking.

Henschke added, 'Some seniors may not be comfortable banking or doing business online because they’re not tech savvy, they’re fearful of potential online scams, cash is what they’ve always known, and they have no other way to make financial transactions.’

View attachment 23655

The rapid rise of digital banking can be overwhelming and intimidating for those who are not accustomed to managing their finances through online platforms, as they may feel uncertain or unfamiliar with the technical aspects involved. Image by Karolina Grabowska from pexels

Meanwhile, the Australian Banking Association (ABA) insists that banks are obliged to help customers navigate this new banking landscape and justify the specific closures.

This is all well and good, but what does it mean for you and me?

Consider this: a whopping 99 per cent of banking is now digital.

We've migrated from physical notes and coins to plastic cards and sleek gadgets.

This goes hand in hand with data showing a decline in cash payments from 70 per cent in 2007 to a meagre 13 per cent in 2022.

However, this forward march of progress hasn't been without a few stumbles.

Take, for instance, the recent glitch with Commonwealth Bank. Customers were left high and dry, unable to even make purchases with their cards. You can read more about this glitch here.

The incident underlined the pitfalls of over-reliance on online banking and highlighted the potential disruptions we could face.

Cyber-security expert Ben Britton warns of our growing dependency on the internet for financial transactions.

Britton explained, 'If there's no internet, there's no transactions, there's no access to your money...Whereas no one can remotely access the cash in your pocket.'

Key Takeaways

• Over 650 bank branches have closed in Australia since 2020, largely due to the shift towards digital banking, causing concerns for older Australians who rely on physical branches for their banking needs.
• New measures have been implemented by the Australian Banking Association, requiring banks to explain why they are closing certain branches and to offer support to customers needing assistance with alternative banking methods.
• There are heightened concerns about Australia becoming increasingly cashless, with cash representing only 13 per cent of customer payments in 2022, down from 70 per cent in 2007.
• This shift towards digital banking has sparked fears about the vulnerability of online systems, with recent outages demonstrating the potential frustrations and financial risks for customers relying solely on digital transactions.

Now, we're all for making life easier. But we also know some of our members might feel anxious about these banking changes.

We believe in empowerment through knowledge; here are a few tips to help you thrive in the digital banking era:

• Always keep an eye out for phishing scams, and remember your bank will never ask for your password.
• App updates usually bring better security. Always keep your banking app updated to the latest version.
• Keep a backup of important contacts. Having your bank’s customer service number can come in handy during emergencies.
• Lastly, don't hesitate to ask for assistance from your bank or trusted family members when it comes to digital banking. Remember, every expert was once a beginner.

Now, the shift to digital might not be everyone's favourite, b change isn't always a bitter pill to swallow!

The digital world can be intimidating, but with understanding and vigilance, we can conquer it together. Here at the Seniors Discount Club, we work to ensure that none of us will ever face these challenges alone.

Do you prefer traditional or digital banking? Share your thoughts or experiences in the comments section below.

Cash doesn't loose it's value cashless payments you get charged a fee so simply $50 goes through several transactions from you to the shop owner etc it is hit every time a transaction is done cash stays the same 100 transactions later this is so the bank's make bigger profits of the people wake up Australia

 

[MariaG]

Perfect timing.
CBA went down for a day and caused no end of dramas for unsuspecting clients.
No direct debits, no payments, no receipts, no branch to talk to.
I get that there is a place for automation and tasks that can be carried out without interaction at a branch, however, there is nothing that will replace the face to face connection between a customer and teller. My hubby draws out cash every pension day and gets comfort from that. He is old school and does not even use an app. Always goes to a branch.
I'm OK with minor tap and pays, but there has to be a line drawn at some point.

What is worse. Getting mugged for cash in your pocket, or getting scammed for money in your account? Either way, they result in trauma.
It's a worry.

 

[Pink lion]

Perfect timing.
CBA went down for a day and caused no end of dramas for unsuspecting clients.
No direct debits, no payments, no receipts, no branch to talk to.
I get that there is a place for automation and tasks that can be carried out without interaction at a branch, however, there is nothing that will replace the face to face connection between a customer and teller. My hubby draws out cash every pension day and gets comfort from that. He is old school and does not even use an app. Always goes to a branch.
I'm OK with minor tap and pays, but there has to be a line drawn at some point.

What is worse. Getting mugged for cash in your pocket, or getting scammed for money in your account? Either way, they result in trauma.
It's a worry.

Its curiouser and curiouser, given the constant hacking over the internet by nation states hoping to cause disruption etc.

And our planets electromagnetic grid being subject constantly to mass Corona ejections from the Sun that continue to effect systems globally including satellites, that the financial sector is pushing to get rid of banknotes.

After all people can store and count money, instead however there's the idea to put it all into servers, that nobody but those that own them and Teck geeks that repair and write the codes for them so know how much actual wealth there is.

It sure does seem dumb, especially due to the speed AI technology is advancing. And the current incredible speed that data is transferred between highly advanced computers, and humans cannot process data that fast.

A banknote has an agreed value, and currency is underpinned by a nation's coffers this is how money works or am I wrong.

I wrote years ago when they were digging goldmine and there was a massive worry about cyanide used to process the gold ore going into the waterways, that if they know to the gram by survey weight, how much gold is underground, why dig it up?

I said after all its safer and better for the environment to leave it where it is and so just use its location for security knowing that nobody can steal it, and I was basically laughed at.

Now they want to invent money that has nothing to support it at all. Only countries that cannot validate their currency in gold etc could gain this way and only Nations that are Trillions of dollars in debt, would want to create it.

There's always a calamity so best to notice notifications and not panic. A Mass solar ejection (a Carrington effect) is expected in January 2025.

if it did occur, how do people pay for goods and services till the problems fixed if everything is digital? Going digital, especially in the current climate, sure seems dumb.