In a move that has left many customers reeling, a major bank has announced that several of its branches will no longer be accepting cash transactions.

This includes coin deposits and a limit on the number of notes that can be deposited.

This decision has sparked outrage among customers, particularly those who rely on cash transactions for their day-to-day banking needs.

ANZ customers have reported that they were unable to make deposits or withdrawals of coins and $5 notes in some branches.

One customer, who wished to remain anonymous, shared their experience of being told that their local branch no longer dealt with $5 notes or coins.

The customers were reportedly advised to visit another branch to get the $1 and $2 coins they needed.

ANZ announced that several of its branches will no longer accept cash transactions. Image source: Shutterstock.

'As a not-for-profit, we take our receipts to deposit them into our account every month—and we do get lots of $5 notes,' the customer shared.

'Let's hope other banks won't follow suit.'

This move by ANZ is part of a broader trend towards digital banking and a cashless society.

However, it has raised concerns among customers who fear being charged 'unfair' fees or card surcharges that come with the 'convenience' of cashless transactions.

Those who voiced their complaints via email were advised to contact the banking ombudsman.

The changes have also caused inconvenience for small business owners.

One such customer reported that when they visited their branch, they were unable to withdraw $5 notes.

'I was informed by a staff member that they could help me with the $20 and $10 notes but that the branch no longer dealt with $5 notes or coins, and I would have to go to another branch to get these denominations,' the customer said.

This decision by ANZ seems to contradict the statement made by ANZ CEO Shayne Elliott during a Senate hearing about branch closures in regional areas in September.

He stated that small business owners were the primary visitors to physical branches for cash transactions.

'They're using them because it's still a way in which they can access or make transactions with cash,' Mr Elliott said in the inquiry.

An ANZ spokesperson clarified that 'full service branches and business cash hubs' would continue to accept deposits and issue withdrawals of all Australian denominations of coins and notes. However, they clarified that in some of their branches, ‘staff will no longer handle cash'.

The move towards a cashless society has been gaining momentum in Australia, with fears that notes and coins will soon no longer be considered legal tender.

In March, ANZ announced that some of its outlets in Victoria would no longer dispense cash as only eight per cent of customers were still visiting branches.

Critics have warned that the move to cashless banks could cause significant harm to older people and those with disabilities who still rely on branches and physical cash.

The number of bank branches has fallen by about 30 per cent in the past five years, and ATMs have decreased even more, with figures showing that they have fallen from a high of 14,000 in 2017 to around 6,000 as of last year.

The Reserve Bank estimated that only 13 per cent of transactions in late 2022 were in cash, a significant decrease in just three years since the start of the COVID-19 pandemic.

The Australian Competition and Consumer Competition (ACCC) also clearly states on its website that businesses are not expected to take cash.

'Businesses should be clear about the types of payments they accept and the total price payable,' the ACCC said.

'When using a payment method other than cash, consumers should read any terms and conditions carefully.'

Key Takeaways

• ANZ has announced that staff at several of its branches will no longer handle cash, causing outrage among customers.
• Customers claimed they could not make deposits or withdrawals of coins and $5 notes at some branches.
• The change fuelled existing fears that Australia is moving toward becoming a 'cashless society.'
• Critics say the move could harm older people and those with disabilities who still rely on physical cash and branches.

What do you think about this move towards a cashless society? Have you been affected by these changes? Share your thoughts and experiences in the comments below.

 

[gbaerken]

Another liberty on the way out. How you pay for goods and services. The beginning of tracking how you spend and where, it will even give them the ability to freeze your account if you don't behave as they dictate. Many small businesses that rely on cash transactions will disappear, putting more people in the control of the government because of their reliance on benefits.

 

[LMW1]

Time for people to vote with their feet - a mass exodus away from ANZ will send a message.

 

[muzza78]

In a move that has left many customers reeling, a major bank has announced that several of its branches will no longer be accepting cash transactions.

This includes coin deposits and a limit on the number of notes that can be deposited.

This decision has sparked outrage among customers, particularly those who rely on cash transactions for their day-to-day banking needs.

ANZ customers have reported that they were unable to make deposits or withdrawals of coins and $5 notes in some branches.

One customer, who wished to remain anonymous, shared their experience of being told that their local branch no longer dealt with $5 notes or coins.

The customers were reportedly advised to visit another branch to get the $1 and $2 coins they needed.

View attachment 37393

ANZ announced that several of its branches will no longer accept cash transactions. Image source: Shutterstock.

'As a not-for-profit, we take our receipts to deposit them into our account every month—and we do get lots of $5 notes,' the customer shared.

'Let's hope other banks won't follow suit.'

This move by ANZ is part of a broader trend towards digital banking and a cashless society.

However, it has raised concerns among customers who fear being charged 'unfair' fees or card surcharges that come with the 'convenience' of cashless transactions.

Those who voiced their complaints via email were advised to contact the banking ombudsman.

The changes have also caused inconvenience for small business owners.

One such customer reported that when they visited their branch, they were unable to withdraw $5 notes.

'I was informed by a staff member that they could help me with the $20 and $10 notes but that the branch no longer dealt with $5 notes or coins, and I would have to go to another branch to get these denominations,' the customer said.

This decision by ANZ seems to contradict the statement made by ANZ CEO Shayne Elliott during a Senate hearing about branch closures in regional areas in September.

He stated that small business owners were the primary visitors to physical branches for cash transactions.

'They're using them because it's still a way in which they can access or make transactions with cash,' Mr Elliott said in the inquiry.

An ANZ spokesperson clarified that 'full service branches and business cash hubs' would continue to accept deposits and issue withdrawals of all Australian denominations of coins and notes. However, they clarified that in some of their branches, ‘staff will no longer handle cash'.

The move towards a cashless society has been gaining momentum in Australia, with fears that notes and coins will soon no longer be considered legal tender.

In March, ANZ announced that some of its outlets in Victoria would no longer dispense cash as only eight per cent of customers were still visiting branches.

Critics have warned that the move to cashless banks could cause significant harm to older people and those with disabilities who still rely on branches and physical cash.

The number of bank branches has fallen by about 30 per cent in the past five years, and ATMs have decreased even more, with figures showing that they have fallen from a high of 14,000 in 2017 to around 6,000 as of last year.

The Reserve Bank estimated that only 13 per cent of transactions in late 2022 were in cash, a significant decrease in just three years since the start of the COVID-19 pandemic.

The Australian Competition and Consumer Competition (ACCC) also clearly states on its website that businesses are not expected to take cash.

'Businesses should be clear about the types of payments they accept and the total price payable,' the ACCC said.

'When using a payment method other than cash, consumers should read any terms and conditions carefully.'

Key Takeaways

• ANZ has announced that staff at several of its branches will no longer handle cash, causing outrage among customers.
• Customers claimed they could not make deposits or withdrawals of coins and $5 notes at some branches.
• The change fuelled existing fears that Australia is moving toward becoming a 'cashless society.'
• Critics say the move could harm older people and those with disabilities who still rely on physical cash and branches.

What do you think about this move towards a cashless society? Have you been affected by these changes? Share your thoughts and experiences in the comments below.

 

[muzza78]

l use cash because on a limited income namely age pension all the surcharges that businesses put on transactions

 

[elaine41]

Like muzza78 I use cash for most of my purchases. I withdraw the amount of cash I need for the week/fortnight & know that this is my limit. There is no way of overspending & not having sufficient funds from my aged pension to pay for essential things such as elec, phone etc. I will not use internet banking as I see too often how people have their bank a/cs fleeced of all their money by scammers. What happens when the telcos go down? No access to funds!! Cash only. What happens during an extended period without power? No access to funds. Cash only.

 

[BillW41]

In a move that has left many customers reeling, a major bank has announced that several of its branches will no longer be accepting cash transactions.

This includes coin deposits and a limit on the number of notes that can be deposited.

This decision has sparked outrage among customers, particularly those who rely on cash transactions for their day-to-day banking needs.

ANZ customers have reported that they were unable to make deposits or withdrawals of coins and $5 notes in some branches.

One customer, who wished to remain anonymous, shared their experience of being told that their local branch no longer dealt with $5 notes or coins.

The customers were reportedly advised to visit another branch to get the $1 and $2 coins they needed.

View attachment 37393

ANZ announced that several of its branches will no longer accept cash transactions. Image source: Shutterstock.

'As a not-for-profit, we take our receipts to deposit them into our account every month—and we do get lots of $5 notes,' the customer shared.

'Let's hope other banks won't follow suit.'

This move by ANZ is part of a broader trend towards digital banking and a cashless society.

However, it has raised concerns among customers who fear being charged 'unfair' fees or card surcharges that come with the 'convenience' of cashless transactions.

Those who voiced their complaints via email were advised to contact the banking ombudsman.

The changes have also caused inconvenience for small business owners.

One such customer reported that when they visited their branch, they were unable to withdraw $5 notes.

'I was informed by a staff member that they could help me with the $20 and $10 notes but that the branch no longer dealt with $5 notes or coins, and I would have to go to another branch to get these denominations,' the customer said.

This decision by ANZ seems to contradict the statement made by ANZ CEO Shayne Elliott during a Senate hearing about branch closures in regional areas in September.

He stated that small business owners were the primary visitors to physical branches for cash transactions.

'They're using them because it's still a way in which they can access or make transactions with cash,' Mr Elliott said in the inquiry.

An ANZ spokesperson clarified that 'full service branches and business cash hubs' would continue to accept deposits and issue withdrawals of all Australian denominations of coins and notes. However, they clarified that in some of their branches, ‘staff will no longer handle cash'.

The move towards a cashless society has been gaining momentum in Australia, with fears that notes and coins will soon no longer be considered legal tender.

In March, ANZ announced that some of its outlets in Victoria would no longer dispense cash as only eight per cent of customers were still visiting branches.

Critics have warned that the move to cashless banks could cause significant harm to older people and those with disabilities who still rely on branches and physical cash.

The number of bank branches has fallen by about 30 per cent in the past five years, and ATMs have decreased even more, with figures showing that they have fallen from a high of 14,000 in 2017 to around 6,000 as of last year.

The Reserve Bank estimated that only 13 per cent of transactions in late 2022 were in cash, a significant decrease in just three years since the start of the COVID-19 pandemic.

The Australian Competition and Consumer Competition (ACCC) also clearly states on its website that businesses are not expected to take cash.

'Businesses should be clear about the types of payments they accept and the total price payable,' the ACCC said.

'When using a payment method other than cash, consumers should read any terms and conditions carefully.'

Key Takeaways

• ANZ has announced that staff at several of its branches will no longer handle cash, causing outrage among customers.
• Customers claimed they could not make deposits or withdrawals of coins and $5 notes at some branches.
• The change fuelled existing fears that Australia is moving toward becoming a 'cashless society.'
• Critics say the move could harm older people and those with disabilities who still rely on physical cash and branches.

What do you think about this move towards a cashless society? Have you been affected by these changes? Share your thoughts and experiences in the comments below.

When is a bank no longer a bank? To think I used to work for that mob!

 

[Pommyoz]

Time for people to vote with their feet - a mass exodus away from ANZ will send a message.

That is such a great idea! I wonder if it is feasible? After thirty years of loyalty, I switched. Why continue to eat from an infected bowl?

 

[Pommyoz]

When is a bank no longer a bank? To think I used to work for that mob!

MOB =. Making obsolete banking!

 

[Penny4]

Banks have always been there as a service for customers. Why can't they acknowledge that!
Australia Post and one of the supermarkets were planning to get a banking licence, however that fell by the wayside. Online banking for customers is okay, however sometimes things crop up which is then required to personally visit a bank.

 

[mylittletibbies]

I don't bank with ANZ, but if I did I would definitely be changing.
Banks seem to forget that if it wasn't for THEIR CUSTOMER'S cash they would be out of business.

 

[Annna]

I don't bank with ANZ, but if I did I would definitely be changing.
Banks seem to forget that if it wasn't for THEIR CUSTOMER'S cash they would be out of business.

Agreed. I closed my ANZ Accounts

 

[LMW1]

That is such a great idea! I wonder if it is feasible? After thirty years of loyalty, I switched. Why continue to eat from an infected bowl?

If enough people spit the dummy and send a message, this has been known to have an impact, and decisions have been reversed. The banks need to keep their share holders happy - reduced business and less funds in their system is going to reduce their profits

 

[KithB]

Why do we let the Banks, Reserve Bank and Government dictate on how we will live and spend our money, you soon won't be able to go on a holiday without permission from a State Department, you all know where that heads. It's all about controlling the population and how we live, seemed like a joke years ago but now I am not so sure.

 

[Southmelbswans]

In a move that has left many customers reeling, a major bank has announced that several of its branches will no longer be accepting cash transactions.

This includes coin deposits and a limit on the number of notes that can be deposited.

This decision has sparked outrage among customers, particularly those who rely on cash transactions for their day-to-day banking needs.

ANZ customers have reported that they were unable to make deposits or withdrawals of coins and $5 notes in some branches.

One customer, who wished to remain anonymous, shared their experience of being told that their local branch no longer dealt with $5 notes or coins.

The customers were reportedly advised to visit another branch to get the $1 and $2 coins they needed.

View attachment 37393

ANZ announced that several of its branches will no longer accept cash transactions. Image source: Shutterstock.

'As a not-for-profit, we take our receipts to deposit them into our account every month—and we do get lots of $5 notes,' the customer shared.

'Let's hope other banks won't follow suit.'

This move by ANZ is part of a broader trend towards digital banking and a cashless society.

However, it has raised concerns among customers who fear being charged 'unfair' fees or card surcharges that come with the 'convenience' of cashless transactions.

Those who voiced their complaints via email were advised to contact the banking ombudsman.

The changes have also caused inconvenience for small business owners.

One such customer reported that when they visited their branch, they were unable to withdraw $5 notes.

'I was informed by a staff member that they could help me with the $20 and $10 notes but that the branch no longer dealt with $5 notes or coins, and I would have to go to another branch to get these denominations,' the customer said.

This decision by ANZ seems to contradict the statement made by ANZ CEO Shayne Elliott during a Senate hearing about branch closures in regional areas in September.

He stated that small business owners were the primary visitors to physical branches for cash transactions.

'They're using them because it's still a way in which they can access or make transactions with cash,' Mr Elliott said in the inquiry.

An ANZ spokesperson clarified that 'full service branches and business cash hubs' would continue to accept deposits and issue withdrawals of all Australian denominations of coins and notes. However, they clarified that in some of their branches, ‘staff will no longer handle cash'.

The move towards a cashless society has been gaining momentum in Australia, with fears that notes and coins will soon no longer be considered legal tender.

In March, ANZ announced that some of its outlets in Victoria would no longer dispense cash as only eight per cent of customers were still visiting branches.

Critics have warned that the move to cashless banks could cause significant harm to older people and those with disabilities who still rely on branches and physical cash.

The number of bank branches has fallen by about 30 per cent in the past five years, and ATMs have decreased even more, with figures showing that they have fallen from a high of 14,000 in 2017 to around 6,000 as of last year.

The Reserve Bank estimated that only 13 per cent of transactions in late 2022 were in cash, a significant decrease in just three years since the start of the COVID-19 pandemic.

The Australian Competition and Consumer Competition (ACCC) also clearly states on its website that businesses are not expected to take cash.

'Businesses should be clear about the types of payments they accept and the total price payable,' the ACCC said.

'When using a payment method other than cash, consumers should read any terms and conditions carefully.'

Key Takeaways

• ANZ has announced that staff at several of its branches will no longer handle cash, causing outrage among customers.
• Customers claimed they could not make deposits or withdrawals of coins and $5 notes at some branches.
• The change fuelled existing fears that Australia is moving toward becoming a 'cashless society.'
• Critics say the move could harm older people and those with disabilities who still rely on physical cash and branches.

What do you think about this move towards a cashless society? Have you been affected by these changes? Share your thoughts and experiences in the comments below.

As the Treasurer of the Social Club at the Retirement village where i live, we generally have an activity with food every month. We have no facility to use cards and could not afford an Eftpos machine. Probably 90% of our residents only use cash so going cashless will be a major imposition on our residents.

 

[Penny4]

The other week I needed to withdraw a largish amount of cash to pay a tradesman.
Not ANZ, however my bank has closed four of their local branches that I used to utilize. Instead, I had to drive 25 minutes and stood in the bank queue for 40 minutes. Of course this was due to other customers driving there as well. I told them it wasn't good enough, but it's not the staff's fault. I did ask where my local ATM's are that this specific bank uses, that doesn't charge fees for the privilege. At least I have this knowledge if I need a certain amount of cash.

 

[Ronloby]

Why do we let the Banks, Reserve Bank and Government dictate on how we will live and spend our money, you soon won't be able to go on a holiday without permission from a State Department, you all know where that heads. It's all about controlling the population and how we live, seemed like a joke years ago but now I am not so sure.

Yes, I think that day is closer than people think.

 

[IAN3005]

Time for people to vote with their feet - a mass exodus away from ANZ will send a message.

United we stand, divider we fall..... boycott the bank. Close your account that will teach them a lesson

 

[melnugro]

l use cash because on a limited income namely age pension all the surcharges that businesses put on transactions

Yeah my main concern is if I go to the local deli /IGA etc what are the extras gunna be when I use the card just for a bottle of milk , loaf of bread or just the local rag the Post Office to post a Postcard or letter ??? The list is endless !!
So yeah being on only the pension Hurts in more ways than one.

 

[melnugro]

United we stand, divider we fall..... boycott the bank. Close your account that will teach them a lesson