In the era of technology, digital transactions are becoming the norm.

Yet, a significant number of Australians are preparing to make a bold statement in support of physical currency.

This movement goes beyond nostalgia; it's a protest against the relentless march towards fully digitised payment systems and the possibility of a cashless society.

Today marks a nationwide event known as Cash Out Day.

Cash advocates are directed to withdraw large sums of money from banks and automatic teller machines (ATMs).

Cash Out Day should send a powerful message to banks and policymakers that cash should remain a viable and legal tender in Australia.

Aussies are encouraged to withdraw cash for Cash Out Day. Image Credit: Freepik/jcomp

Jason Bryce, the founder of the advocacy group Cash Welcome, spearheaded the initiative.

Bryce believed that Cash Out Day could be an opportunity for Australians to assert their right to use cash.

'Physical cash is our legal tender, banks need to give us access to our cash, and all retailers must accept cash,' Bryce stated.

The said event could draw participation from around two million Australians, who will collectively withdraw significant amounts of cash.

Last year, the Cash Out Day initiative saw long queues at ATMs and images of participants proudly displaying their withdrawn cash.

While the exact total amount withdrawn was not officially confirmed, the pro-cash community reported a collective figure of around $500,000 in cash.

In light of the event, the Australian Banking Association (ABA) shared its sentiment about the advocacy group's initiative.

The ABA stated that there was 'no material difference in withdrawals of cash' during last year's Cash Out Day, and there should not be a significant difference this year.

However, the ABA reassured Australians that cash will continue to be available and accessible, even as the use of cash declines.

According to the Reserve Bank of Australia (RBA), 70 per cent of consumer payments were made with cash in 2017.

However, cash payments have plummeted to 13 per cent in 2022.

The ABA forecasted that this could drop to four per cent by 2030.

However, cash remains an essential payment method for approximately seven per cent of Australians, who rely on it for 80 per cent of their transactions.

Cash remains an essential mode of payment for seniors and regional and rural communities.

The tangible nature of cash transactions helps people manage their spending more effectively than tap-and-go digital payments.

Moreover, cash transactions avoid the possible surcharges on small transactions when using card payments.

Access to cash has become more challenging as 339 bank branches have closed in 2023 and 2024.

However, a few weeks ago, Westpac branches in regional locations should reopen soon as a response to community needs.

Recognising the importance of cash for Australians, the government proposed a mandate to keep cash as a payment option for essential items and services by 1 January 2026.

This mandate should cover supermarkets, department stores, utilities, petrol stations, mechanics, pharmacies, GPs, and pet stores.

Cash Out Day is more than just a protest; it's about the freedom to choose how to spend money.

Jason Bryce encouraged everyone to participate by withdrawing cash and keeping it on hand.

So, it's time to be part of a movement that could champion Aussies' financial choices.

Key Takeaways

• Australians participating in Cash Out Day have been protesting towards digitised payments by withdrawing large sums of money from banks and ATMs.
• Cash Welcome founder Jason Bryce could see two million participants demonstrating their support for keeping cash as legal tender.
• The Australian Banking Association (ABA) noted that while the use of cash is declining, it will continue to be available and accessible for those who prefer it.
• Amidst a nationwide closure of bank branches and a reduction in the number of ATMs, the Australian government proposed a mandate to ensure cash use for essential purchases.

Are you joining this initiative? What do you think about Cash Welcome's advocacy for cash usage? Share your thoughts and opinions about financial options in the comments section below!

 

[BruceC]

Of course it’s bound to happen Bruce. How many younger people do you know who still lug great amounts of cash around? My son & his mates have been cashless for a long time so by the time we’ve all departed, most likely cash will too. Cash is still around, most businesses accept it so I really don’t understand what all the fuss is about. I prefer to use my card but still carry a small amount of cash as well as keep a little for emergencies. My son paid a few of our bills several years ago because he’d had it in his wallet for five years & it was really starting to annoy him.
Like it or not the world is changing, not always for the better, but it’s easier when you try to adapt, even just a little. I’m also 72 and basically don’t worry about much at all, only our health. Why totally depress myself.

You are so correct.
I have a son who works at the ATO and he has been saying for sometime now that Cash will go as Credit card and Direct Debit payments are the easiest way for the ATO and Government to track everyone’s spending.
And with GPS tracking and CCTV Cameras on every corner and in every shopping centre they know where you go, when you go and how much you spend..

 

[Greg350]

That’s why many businesses are refusing cash.
I’m glad you are the guru who knows exactly what will happen.
Its not a conspiracy but brain dead, bury your head in the sand fools like you will never see the light..
Maybe it won’t happen in your lifetime (pending what age yo are) but it will happen.
It won’t happen in my lifetime (I’m 72) but it will happen in my children’s and grandchildren’s lifetimes.
Then again ther is a big possibility of it happening in my lifetime..

They are refusing cash because of security concerns, taking money to the bank, being robbed, the time it takes to account for the cash, the time it takes to go to the bank, etc, etc.

If you had ever run a business you'd know that electronic transactions are FAR BETTER, accounting is often a push of a couple of buttons, no security concerns, just so much better.

Of course many ratbags like cash as they can hide their transactions easily, not pay tax, just skim some money off the revenue. Which means everyone else picks up the tab, the shortfall in income from taxes, I guess you don't mind paying more tax. Of course maybe you're one of the ratbags who likes to hide their cash.

 

[Greg350]

You are so correct.
I have a son who works at the ATO and he has been saying for sometime now that Cash will go as Credit card and Direct Debit payments are the easiest way for the ATO and Government to track everyone’s spending.
And with GPS tracking and CCTV Cameras on every corner and in every shopping centre they know where you go, when you go and how much you spend..

Yeah, and the government is so interested in your spending. Bruce goes to Coles weekly to buy groceries, monthly for his meds from the chemist, wow that's interesting.

Stupid, paranoid thinking.

 

[PattiB]

You are so correct.
I have a son who works at the ATO and he has been saying for sometime now that Cash will go as Credit card and Direct Debit payments are the easiest way for the ATO and Government to track everyone’s spending.
And with GPS tracking and CCTV Cameras on every corner and in every shopping centre they know where you go, when you go and how much you spend..

And why is that a problem? I very much doubt that the government is really going to be interested in my spending! It’s not worth worrying about, in my opinion of course.

 

[IAN3005]

Everyone charges a fee??? Most service stations don't, supermarkets don't, Kmart, Target, Myers and numerous other large stores don't, and that's just some examples.

It's loaded into the price.....can you see anyone NOT getting the consumer to pay...it all is accounted for...

 

[IAN3005]

Yeah, and the government is so interested in your spending. Bruce goes to Coles weekly to buy groceries, monthly for his meds from the chemist, wow that's interesting.

Stupid, paranoid thinking.

Agree with Bruce C .if you haven't seen the video of what is going on in China I will send it to you....

 

[Observer]

EFT's are not fool proof. "Pending" is a continuous concern and arguments follow when clearances don't go through, PLUS, you have the hackers constantly trying to infiltrate banking systems where your private details and your funds are divulged on the dark web.
It's not to say EFT's are inconvenient but both options should remain available.
IMHO

 

[Veggiepatch]

And???? This morning I went to the loo, so what. Transactions are often pending until they are processed, what's your point?

The time frame for the transaction to be processed, nitwit!

Funny thing is, a transaction performed at Woolworths is processed almost instantaneously.

This business I mentioned is a billion dollar concern, not some corner store!

 

[Kelpie]

Everyone charges a fee??? Most service stations don't, supermarkets don't, Kmart, Target, Myers and numerous other large stores don't, and that's just some examples.

As for the supermarkets ALDI definitely does and my vets are charging me a fee as well, let alone Service NSW and a few others. Many businesses don't tell you that a fee is charged and you only notice it when you get your Credit Card Statement.
I went to ring another business that I deal with and wanted to pay my account over the phone with the Credit Card and they told me that a surcharge was going to be added to my payment. As I was travelling, I said that it would have to wait until I was getting back home and that I would then do a DD transfer to their account or send them a cheque. They replied to me that they would prefer a DD as they would get charged a fee by the Bank to handle a cheque.
Fees everywhere and most of the tine you are not even aware of them..
A cafe/restaurant in the main street of the town I live in, have a sign near the register where it says that for every $20 dollars you pay in cash and not with a Credit Card they will give you a free bottle of water. Obviously even them (The Retailers) are charged a fee from the Banks and I can guarantee you that when I was running one of my businesses with a high volume turnover, I had to negotiate a fees which I was happy with because I told them that if they weren't giving any favorite treatment I was going to take my business elsewhere. It worked.

 

[Observer]

As for the supermarkets ALDI definitely does and my vets are charging me a fee as well, let alone Service NSW and a few others. Many businesses don't tell you that a fee is charged and you only notice it when you get your Credit Card Statement.
I went to ring another business that I deal with and wanted to pay my account over the phone with the Credit Card and they told me that a surcharge was going to be added to my payment. As I was travelling, I said that it would have to wait until I was getting back home and that I would then do a DD transfer to their account or send them a cheque. They replied to me that they would prefer a DD as they would get charged a fee by the Bank to handle a cheque.
Fees everywhere and most of the tine you are not even aware of them..
A cafe/restaurant in the main street of the town I live in, have a sign near the register where it says that for every $20 dollars you pay in cash and not with a Credit Card they will give you a free bottle of water. Obviously even them (The Retailers) are charged a fee from the Banks and I can guarantee you that when I was running one of my businesses with a high volume turnover, I had to negotiate a fees which I was happy with because I told them that if they weren't giving any favorite treatment I was going to take my business elsewhere. It worked.

ALDI does not charge me fees

The reason most businesses don't pay fees is because they get us, the people, to pay it for them, and that's why they charge fees, and yet, businesses can claim it as a tax deduction and we, the people, cannot. Where is that fair??????????

 

[Kelpie]

"Cash advocates are directed to withdraw large sums of money from banks and automatic teller machines (ATMs)." INCORRECT
In no way shape or form are they directed. They are asked. And I believe last year it was close to a billion dollars, not ½ a million.

Correct. They are trying to cover it all up so that they can continue with their plans.
And why is it that you are only allowed to withdraw a maximum of $2000.00 OF YIOUIR OWN MONEY.?
The other day just before Easter I went to the Bank and as the maximum allowed to withdraw from the ATM is $2,000.00 dollars, I went to the teller and told her I wanted $5,000.00 dollars. She then asked me why and what I was going to do with that. I said SORRY BUT IT IS none of your business and I told her to call her boss who then asked me the same question. I replied that it was none of his business and that I wanted that amount taken off my total balance or that I would go elsewhere. He then told the teller to give me the money.
Why are they asking you what you want your money for.? That alone beggars some questions.

 

[Kelpie]

ALDI does not charge me fees

The reason most businesses don't pay fees is because they get us, the people, to pay it for them, and that's why they charge fees, and yet, businesses can claim it as a tax deduction and we, the people, cannot. Where is that fair??????????

Bit confusing what you are saying but as for your last point why don't you ask your Treasurer (Albo's mate) who us in cohorts with the Bankers.?

 

[Observer]

Correct. They are trying to cover it all up so that they can continue with their plans.
And why is it that you are only allowed to withdraw a maximum of $2000.00 OF YIOUIR OWN MONEY.?
The other day just before Easter I went to the Bank and as the maximum allowed to withdraw from the ATM is $2,000.00 dollars, I went to the teller and told her I wanted $5,000.00 dollars. She then asked me why and what I was going to do with that. I said SORRY BUT IT IS none of your business and I told her to call her boss who then asked me the same question. I replied that it was none of his business and that I wanted that amount taken off my total balance or that I would go elsewhere. He then told the teller to give me the money.
Why are they asking you what you want your money for.? That alone beggars some questions.

You don't need to explain to the banks why you want the cash, it isn't their business to begin with, and it IS YOUR money after all.
If the police raid your home and you just end up having quite a bit of cash there, the question will come up that it might have been collected due to ill gotten gains. Next you'll be trying to prove your innocence to false accusations

 

[Kelpie]

Oh FFS, if the need was there the ATM's would be there. The Banks are not removal them first, the people are not using them, open your eyes. I worked in a bank for decades, as use reduced they reduced the number of ATM's, normal business sense to do so as they are expensive to maintain.

And the conspiracy theories are not put out by banks, the idiots believing this stuff do. There is no move to remove cash, the government has said so, they just redesigned the $5 dollar note, why bother. You people are moronic.

"(I worked in a bank for decades, as use reduced they reduced the number of ATM's, normal business sense to do so as they are expensive to maintain.)"

Finally you have shown your cards. I thought all along that that was the case but I didn't have the proofs hence why I abstained. Hence why you are very protective of the Banks. As they say once a Banker always a Banker and once a cop always a COP. They stick together like flies.
From my own experience Some bankers are very good a willing to help while others are crooked as and all they want is to make money out of you so that they can constantly collect and increase their bonuses. How do I know this, well one of my bets friend was banker (He got out of it as he had enough of the crap and having to answer questions when he was doing the right thing by his customers) and he told me several times about it. Nevertheless he is still enjoying very low and favourable rates from the Bank as they treat all their present and past employees in the same way.

 

[Observer]

Bit confusing what you are saying but as for your last point why don't you ask your Treasurer (Albo's mate) who us in cohorts with the Bankers.?

To make my explanation clearer for you.....
Small businesses charge you a fee for transactions.
The small business owner gets charged a fee for transactions, so instead of them paying, you get charged the fee instead, and they pay it forward, just so they don't have to pay.
But, any transaction fees that a small business incurs, is a tax deduction to them anyways.
In many ways, it really makes no sense for the consumer to be paying any fees.
We can't claim it as a banking transaction fee on our taxes but small businesses can.

 

[Observer]

"(I worked in a bank for decades, as use reduced they reduced the number of ATM's, normal business sense to do so as they are expensive to maintain.)"

Finally you have shown your cards. I thought all along that that was the case but I didn't have the proofs hence why I abstained. Hence why you are very protective of the Banks. As they say once a Banker always a Banker and once a cop always a COP. They stick together like flies.
From my own experience Some bankers are very good a willing to help while others are crooked as and all they want is to make money out of you so that they can constantly collect and increase their bonuses. How do I know this, well one of my bets friend was banker (He got out of it as he had enough of the crap and having to answer questions when he was doing the right thing by his customers) and he told me several times about it. Nevertheless he is still enjoying very low and favourable rates from the Bank as they treat all their present and past employees in the same way.

I have heard of that happening before

 

[Iggydi]

I am not a huge fan of using my card only because when I was overseas I used my card to buy a train ticket because the station wasn't manned but had a card/atm machine to buy tickets. My card got rejected even though I checked before I went if I could use it in that country so I didn't get my tickets. When I checked my account a few days later I was charged for the tickets even though it said it was declined. I had to put in a request to get my money back. So for me using my card I am still a bit hesitant. With cash I can see everything is being paid.

 

[Observer]

I am not a huge fan of using my card only because when I was overseas I used my card to buy a train ticket because the station wasn't manned but had a card/atm machine to buy tickets. My card got rejected even though I checked before I went if I could use it in that country so I didn't get my tickets. When I checked my account a few days later I was charged for the tickets even though it said it was declined. I had to put in a request to get my money back. So for me using my card I am still a bit hesitant. With cash I can see everything is being paid.

I used my card overseas too on an ATM, and was told by our banks it was a Visa, so therefor acceptable.
Damn machine gobbled up my card because it wasn't recognised
Had to go in to the Bank, get them to open the ATM, just to retrieve my card.

 

[Iggydi]

ALDI does not charge me fees

The reason most businesses don't pay fees is because they get us, the people, to pay it for them, and that's why they charge fees, and yet, businesses can claim it as a tax deduction and we, the people, cannot. Where is that fair??????????

How did you not get charged a fee when using your card at Aldi? I got charged once when I used my card but never again I pay by cash if I ever go into Aldi

 

[Veggiepatch]

If some bank staffer asks you for the purpose of a "large" withdrawal, just tell them you are going to a high end brothel.

For the women, they could say they are getting a tit job or a vaginoplasty in Thailand.

I read where a Canadian tourist wanted to buy a cheap car, of which a $3000 withdrawal was going towards the cost with money he already had. When asked by the teller the purpose of the withdrawal, he replied "for a car". Then the dumb arse teller wanted an invoice as proof of purchase! He hadn't bought the car yet!

The branch manager was involved and a red faced teller was totally in the wrong!