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.

 

[melnugro]

Can only get the pension thru' the bank or I wooda closed mine a long time ago.

 

[maggiej]

I am with Bendigo Bank and recently I have found that the bank is really busy as I walk past doing my shopping. No way do I want to not have cash. This way of no cash is why so many people get into difficulty of over spending on their cards.

 

[Sandygwalk]

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.

I was told years ago while working for Australia Post that while notes and coin is still legal tender you are not allowed by law to refuse to accept it. As was the case of 1 & 2 cent coins.

 

[melnugro]

I was told years ago while working for Australia Post that while notes and coin is still legal tender you are not allowed by law to refuse to accept it. As was the case of 1 & 2 cent co

Sorry to disappoint you but I think the law has changed , and it was when COVID hit . Some of those shops still refuse CASH TODAY.

 

[David567]

Can someone please tell me why there banks around and what are they for. I seem to have forgotten. I'm thinking they might be to store all their own Trillions or dollars they scam off unsuspecting customers and merchants that are doin their job for them.

 

[IAN3005]

Can someone please tell me why there banks around and what are they for. I seem to have forgotten. I'm thinking they might be to store all their own Trillions or dollars they scam off unsuspecting customers and merchants that are doin their job for them.

To make money for the shareholders you think they give a shi* about the customer?

 

[IAN3005]

Maybe an idea to start boycotting some of these arsehole banks, there's a reason why they call them bankers, it rhymes with wankers?

United we stand, divided we fall.

 

[bschulze]

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

That is the best way if they can not provide you with the service you need just go to another bank that will

 

[MariaG]

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.

Oh. Give me strength.
I am not an advocate for a cashless society. Looks like ANZ is.
How do you teach a child to save up in a piggy bank if the bank won't accept the coin saved. Looks like the Tooth Fairy will have a minimum payment of $10. OMG. Perhaps ANZ wants these savers to apply for credit cards instead.
First, branches close, now you can't deposit your hard earned. Tomorrow, who knows.

 

[Keswickian]

A cashless world will have a big affect on children; especially those that like to earn a few dollars and keep them in a piggy bank. This is how they learn about money.
Are children all expected to have a bank account and a credit card in the future?
Whoops! I just noticed that Maria posted the same thing at the same time.

 

[Apollo]

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.

I won't be going to another branch. I'll be choosing a different bank.

 

[Annna]

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

Done that, happy now.

I call on all readers to do it (I know that many of us creatures of habit, we grumble then let it slide) but, but, but the only way to send a message is to go and close accounts. United we stand means get off your armchairs and go do it !

 

[havingadoggyday]

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

Yep so did I.Custoner was ways right,you worked for the customer not the other way round.Counting and Rollin' coins into cigar shapes after the bank closed."Muting"(seperating) your old from new notes so they could be sent away to treasury for destroying.Replacing the money you were short at the end of the day yourself as you were responsible !!!Ahh yes !!
The Rural bank does more for you...personallyThen became the State Bank,then the Colonial State Bank,then the Colonial Bank,then the Commonwealth bank, that owned them all alongHi to any old X staff from the seventies.

 

[NotNats]

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.

This will be another nail in ANZ coffin - I am now looking at changing banks completely - ANZ has now become the worse Australian Bank in my view.

 

[Luckyus]

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.

I made a previous comment on this post and stand by it, however I came into some money (forget the smutty jokes) and not knowing sod all about stocks and shares, I got my accountant to buy shares in the banks and locked it away for five years. Since then every bloody bank has been fined many millions for it's shonky practices this latest cashless society is but another one this time, with the collusion of a government that was specifically enacted for the betterment of the working class once again the working class being manifestly betrayed by it's so-called own. The long and the short of it is, I forgot that I suffer from the Midas Touch in reverse, in that most things don't turn to GOLD just SHIT?

 

[Liz]

And ANZ wants to take over Suncorp. Closed my ANZ accounts. Hope to heavens this won't go through or I will be stuffed as well.

 

[Penny4]

And ANZ wants to take over Suncorp. Closed my ANZ accounts. Hope to heavens this won't go through or I will be stuffed as well.

That didn't go ahead apparently. Suncorp is still Suncorp.

 

[Liz]

That didn't go ahead apparently. Suncorp is still Suncorp.

For the moment, they are still wanting to take it over. Suncorp staff are against it.

 

[IAN3005]

Done that, happy now.

I call on all readers to do it (I know that many of us creatures of habit, we grumble then let it slide) but, but, but the only way to send a message is to go and close accounts. United we stand means get off your armchairs and go do it !

Bravo.... keudos to you.... it's getting the other couch potatoes mobile.....