The way Aussies pay for things is changing, and it's time to say goodbye to one that has been around for many years: cheque payments.

The Albanese government has announced draft legislation to regulate digital payment methods like Apple Pay and Google Pay in the same way as cards. They're also taking steps to phase out cheques entirely within the next few years.

The draft legislation would allow the Reserve Bank to control new and emerging digital payment services to protect consumers and promote competition.

For many, this may seem concerning. But Treasurer Jim Chalmers has reassured that digital payments are safer, more convenient and will benefit all Australians in the long run.

'As payments increasingly become digital, our payments system needs to remain fit for purpose so that it delivers for consumers and small businesses,' he said.

'We want to make sure the shift to digital payments occurs in a way that promotes greater competition, innovation and productivity across our entire economy.'

The Federal Government is moving to regulate digital wallets. Credit: Unsplash.

Cheque usage has been declining steadily. According to government data, in the June quarter of 2023, 35 per cent of all card transactions were carried out using digital wallets—a significant increase from the 10 per cent recorded in early 2020.

Moreover, Reserve Bank of Australia (RBA) data indicates that nearly two-thirds of younger Australians—aged 18 to 29—make mobile payments. This marks a substantial rise from the less than 20 per cent recorded in 2019.

Mobile payments are on the rise even among older Aussies, those aged 65 and over. Approximately nine per cent of the age group regularly use mobile payment methods, three times the proportion seen in 2019.

The public consultation for proposed changes to the Payment Systems (Regulation) Act of 1998 began on Tuesday, October 10. This update aims to modernise the definitions of 'payment' and 'payment systems' to encompass new payment methods widely used now and in the future.

In June, Dr Chalmers mentioned that cheque payments will be gradually phased out by 2028. A goal has been set to end the use of cheques completely in 2030.

He explained that at present, nearly all retail and personal cheque transactions (98 per cent) can be efficiently handled through Internet or mobile banking, and this also applies to all cheques used in institutional and commercial settings (100 per cent).

Dr Chalmers emphasised that retaining cheques within the payment system has become increasingly expensive to manage a declining portion of transactions.

This news follows a growing trend among retailers and financial institutions to embrace cashless transactions.

Recently, we shared information about a major bank's decision to shift towards digital-only payment systems. This change will involve discontinuing cash, check, and phone payments for their customers.

For more information on this story, read the full article here.

Key Takeaways

• The Albanese government plans to regulate digital payment wallets like Google Pay and Apple Pay similarly to other payment systems.
• The draft legislation would allow the Reserve Bank to control new and emerging digital payment services, purportedly to protect consumers and promote competition.
• Public consultation for amendments to the Payment Systems (Regulation) Act 1998 opened on October 10, aiming to update the definition of 'payment' and 'payments systems' to include a broader range of current and future payment methods.
• As part of these legislative changes, the government plans to wind down cheque payments by 2028, with requirements for their use removed by 2030, reflecting a move towards digital payment methods.

What are your thoughts on this news, members? Do you regularly use cheque payments? If so, do you agree that replacing them with digital methods is better? Share your thoughts on Australia's move to 'cashless' transactions in the comments below!

 

[darrellh]

We still use cheques to pay contractors. We don't do online banking apart from between our own accounts to clear our credit card fir instance. If contractors don't have a machine so we can use a card to pay them, then we will have to take cash out and go to their bank to pay them or pay over the phone depending on the amount and who they are. We will not be paying people online that is for sure. They can't ensure safety from hacking.

 

[mylittletibbies]

Absolutely, and once they have total control of our money, which is exactly what is going to happen, they then have total control of us.
I know many are going to scoff when I say that, but they also scoffed at a lot of other things us so called conspiracy theorists said, that have now been proven to be true. Scoff all you want, but don’t say later you weren’t warned

So true, but the sheep will just go along with it. The penny will fall when it is too late.

 

[mylittletibbies]

And are we then going to be charged a transaction fee every time we use our card.
Maybe they will promise us, at that start, that this won't happen, but you can bet your bottom dollar that it won't take long before they do, and then how much will it be.

 

[featherfour]

ha ha haven't had a cheque account this century

 

[Shane/#]

The way Aussies pay for things is changing, and it's time to say goodbye to one that has been around for many years: cheque payments.

The Albanese government has announced draft legislation to regulate digital payment methods like Apple Pay and Google Pay in the same way as cards. They're also taking steps to phase out cheques entirely within the next few years.

The draft legislation would allow the Reserve Bank to control new and emerging digital payment services to protect consumers and promote competition.

For many, this may seem concerning. But Treasurer Jim Chalmers has reassured that digital payments are safer, more convenient and will benefit all Australians in the long run.

'As payments increasingly become digital, our payments system needs to remain fit for purpose so that it delivers for consumers and small businesses,' he said.

'We want to make sure the shift to digital payments occurs in a way that promotes greater competition, innovation and productivity across our entire economy.'

View attachment 31910

The Federal Government is moving to regulate digital wallets. Credit: Unsplash.

Cheque usage has been declining steadily. According to government data, in the June quarter of 2023, 35 per cent of all card transactions were carried out using digital wallets—a significant increase from the 10 per cent recorded in early 2020.

Moreover, Reserve Bank of Australia (RBA) data indicates that nearly two-thirds of younger Australians—aged 18 to 29—make mobile payments. This marks a substantial rise from the less than 20 per cent recorded in 2019.

Mobile payments are on the rise even among older Aussies, those aged 65 and over. Approximately nine per cent of the age group regularly use mobile payment methods, three times the proportion seen in 2019.

The public consultation for proposed changes to the Payment Systems (Regulation) Act of 1998 began on Tuesday, October 10. This update aims to modernise the definitions of 'payment' and 'payment systems' to encompass new payment methods widely used now and in the future.

In June, Dr Chalmers mentioned that cheque payments will be gradually phased out by 2028. A goal has been set to end the use of cheques completely in 2030.

He explained that at present, nearly all retail and personal cheque transactions (98 per cent) can be efficiently handled through Internet or mobile banking, and this also applies to all cheques used in institutional and commercial settings (100 per cent).

Dr Chalmers emphasised that retaining cheques within the payment system has become increasingly expensive to manage a declining portion of transactions.

This news follows a growing trend among retailers and financial institutions to embrace cashless transactions.

Recently, we shared information about a major bank's decision to shift towards digital-only payment systems. This change will involve discontinuing cash, check, and phone payments for their customers.

For more information on this story, read the full article here.

Key Takeaways

• The Albanese government plans to regulate digital payment wallets like Google Pay and Apple Pay similarly to other payment systems.
• The draft legislation would allow the Reserve Bank to control new and emerging digital payment services, purportedly to protect consumers and promote competition.
• Public consultation for amendments to the Payment Systems (Regulation) Act 1998 opened on October 10, aiming to update the definition of 'payment' and 'payments systems' to include a broader range of current and future payment methods.
• As part of these legislative changes, the government plans to wind down cheque payments by 2028, with requirements for their use removed by 2030, reflecting a move towards digital payment methods.

What are your thoughts on this news, members? Do you regularly use cheque payments? If so, do you agree that replacing them with digital methods is better? Share your thoughts on Australia's move to 'cashless' transactions in the comments below!

Bloody lobotomised brainless imbeciles no internet no pay, no power no pay ,and a hacker's dream cash is the only thing that doesn't need technology to be used

 

[Tipsy]

The way Aussies pay for things is changing, and it's time to say goodbye to one that has been around for many years: cheque payments.

The Albanese government has announced draft legislation to regulate digital payment methods like Apple Pay and Google Pay in the same way as cards. They're also taking steps to phase out cheques entirely within the next few years.

The draft legislation would allow the Reserve Bank to control new and emerging digital payment services to protect consumers and promote competition.

For many, this may seem concerning. But Treasurer Jim Chalmers has reassured that digital payments are safer, more convenient and will benefit all Australians in the long run.

'As payments increasingly become digital, our payments system needs to remain fit for purpose so that it delivers for consumers and small businesses,' he said.

'We want to make sure the shift to digital payments occurs in a way that promotes greater competition, innovation and productivity across our entire economy.'

View attachment 31910

The Federal Government is moving to regulate digital wallets. Credit: Unsplash.

Cheque usage has been declining steadily. According to government data, in the June quarter of 2023, 35 per cent of all card transactions were carried out using digital wallets—a significant increase from the 10 per cent recorded in early 2020.

Moreover, Reserve Bank of Australia (RBA) data indicates that nearly two-thirds of younger Australians—aged 18 to 29—make mobile payments. This marks a substantial rise from the less than 20 per cent recorded in 2019.

Mobile payments are on the rise even among older Aussies, those aged 65 and over. Approximately nine per cent of the age group regularly use mobile payment methods, three times the proportion seen in 2019.

The public consultation for proposed changes to the Payment Systems (Regulation) Act of 1998 began on Tuesday, October 10. This update aims to modernise the definitions of 'payment' and 'payment systems' to encompass new payment methods widely used now and in the future.

In June, Dr Chalmers mentioned that cheque payments will be gradually phased out by 2028. A goal has been set to end the use of cheques completely in 2030.

He explained that at present, nearly all retail and personal cheque transactions (98 per cent) can be efficiently handled through Internet or mobile banking, and this also applies to all cheques used in institutional and commercial settings (100 per cent).

Dr Chalmers emphasised that retaining cheques within the payment system has become increasingly expensive to manage a declining portion of transactions.

This news follows a growing trend among retailers and financial institutions to embrace cashless transactions.

Recently, we shared information about a major bank's decision to shift towards digital-only payment systems. This change will involve discontinuing cash, check, and phone payments for their customers.

For more information on this story, read the full article here.

Key Takeaways

• The Albanese government plans to regulate digital payment wallets like Google Pay and Apple Pay similarly to other payment systems.
• The draft legislation would allow the Reserve Bank to control new and emerging digital payment services, purportedly to protect consumers and promote competition.
• Public consultation for amendments to the Payment Systems (Regulation) Act 1998 opened on October 10, aiming to update the definition of 'payment' and 'payments systems' to include a broader range of current and future payment methods.
• As part of these legislative changes, the government plans to wind down cheque payments by 2028, with requirements for their use removed by 2030, reflecting a move towards digital payment methods.

What are your thoughts on this news, members? Do you regularly use cheque payments? If so, do you agree that replacing them with digital methods is better? Share your thoughts on Australia's move to 'cashless' transactions in the comments below!

Jim Chalmers is another criminal lying Politician, worse than a car salesman

 

[Staffordshire Whippet]

Yeah, Naaaaaah.

You lost me at "Treasurer Jim Chalmers has reassured that digital payments are safer, more convenient and will benefit all Australians in the long run." Well, he WOULD say that, wouldn't he?

Anything with this yoyo's name or photo makes me want to turn 180 degrees and sprint.

 

[Luckyus]

The way Aussies pay for things is changing, and it's time to say goodbye to one that has been around for many years: cheque payments.

The Albanese government has announced draft legislation to regulate digital payment methods like Apple Pay and Google Pay in the same way as cards. They're also taking steps to phase out cheques entirely within the next few years.

The draft legislation would allow the Reserve Bank to control new and emerging digital payment services to protect consumers and promote competition.

For many, this may seem concerning. But Treasurer Jim Chalmers has reassured that digital payments are safer, more convenient and will benefit all Australians in the long run.

'As payments increasingly become digital, our payments system needs to remain fit for purpose so that it delivers for consumers and small businesses,' he said.

'We want to make sure the shift to digital payments occurs in a way that promotes greater competition, innovation and productivity across our entire economy.'

View attachment 31910

The Federal Government is moving to regulate digital wallets. Credit: Unsplash.

Cheque usage has been declining steadily. According to government data, in the June quarter of 2023, 35 per cent of all card transactions were carried out using digital wallets—a significant increase from the 10 per cent recorded in early 2020.

Moreover, Reserve Bank of Australia (RBA) data indicates that nearly two-thirds of younger Australians—aged 18 to 29—make mobile payments. This marks a substantial rise from the less than 20 per cent recorded in 2019.

Mobile payments are on the rise even among older Aussies, those aged 65 and over. Approximately nine per cent of the age group regularly use mobile payment methods, three times the proportion seen in 2019.

The public consultation for proposed changes to the Payment Systems (Regulation) Act of 1998 began on Tuesday, October 10. This update aims to modernise the definitions of 'payment' and 'payment systems' to encompass new payment methods widely used now and in the future.

In June, Dr Chalmers mentioned that cheque payments will be gradually phased out by 2028. A goal has been set to end the use of cheques completely in 2030.

He explained that at present, nearly all retail and personal cheque transactions (98 per cent) can be efficiently handled through Internet or mobile banking, and this also applies to all cheques used in institutional and commercial settings (100 per cent).

Dr Chalmers emphasised that retaining cheques within the payment system has become increasingly expensive to manage a declining portion of transactions.

This news follows a growing trend among retailers and financial institutions to embrace cashless transactions.

Recently, we shared information about a major bank's decision to shift towards digital-only payment systems. This change will involve discontinuing cash, check, and phone payments for their customers.

For more information on this story, read the full article here.

Key Takeaways

• The Albanese government plans to regulate digital payment wallets like Google Pay and Apple Pay similarly to other payment systems.
• The draft legislation would allow the Reserve Bank to control new and emerging digital payment services, purportedly to protect consumers and promote competition.
• Public consultation for amendments to the Payment Systems (Regulation) Act 1998 opened on October 10, aiming to update the definition of 'payment' and 'payments systems' to include a broader range of current and future payment methods.
• As part of these legislative changes, the government plans to wind down cheque payments by 2028, with requirements for their use removed by 2030, reflecting a move towards digital payment methods.

What are your thoughts on this news, members? Do you regularly use cheque payments? If so, do you agree that replacing them with digital methods is better? Share your thoughts on Australia's move to 'cashless' transactions in the comments below!

Any payment recommended by any Labour party is suss at the best of times, in the past which unfortunately I haven't been able to access to for the last two years I Always preferred using a cheque payment for amounts over $100.As far as I'm concerned they insert their digital wallets in their fundamental orifice. (in other words up their arse)

 

[magpie1]

It is just their slow move forward to only having an electronic banking system in place in the very near future.......so when the lights go out due to power failure or the banking system goes down due to any number of reasons, then everything stops.....and if it is some form of hacking then rectifying the problem make take a long time......so no electric power means no shopping, buying or selling, no banking, just no trade at all, the economy stops. Something we can all look forward to in the near future, you can BANK on it.

 

[Tootie]

I still use cheques from time to time. No financial apps on my phone, thankyou very much. I pay cash when shopping and use a debit card linked to a specific account, to buy anything online from my favourite stores. Digital payment is a hacker's 'paradise'. We should not be forced to use digital methods of payment if we don't want to! There should be an individual choice. Government is overstepping the line. Oh, for the good old days!

 

[Isis]

The way Aussies pay for things is changing, and it's time to say goodbye to one that has been around for many years: cheque payments.

The Albanese government has announced draft legislation to regulate digital payment methods like Apple Pay and Google Pay in the same way as cards. They're also taking steps to phase out cheques entirely within the next few years.

The draft legislation would allow the Reserve Bank to control new and emerging digital payment services to protect consumers and promote competition.

For many, this may seem concerning. But Treasurer Jim Chalmers has reassured that digital payments are safer, more convenient and will benefit all Australians in the long run.

'As payments increasingly become digital, our payments system needs to remain fit for purpose so that it delivers for consumers and small businesses,' he said.

'We want to make sure the shift to digital payments occurs in a way that promotes greater competition, innovation and productivity across our entire economy.'

View attachment 31910

The Federal Government is moving to regulate digital wallets. Credit: Unsplash.

Cheque usage has been declining steadily. According to government data, in the June quarter of 2023, 35 per cent of all card transactions were carried out using digital wallets—a significant increase from the 10 per cent recorded in early 2020.

Moreover, Reserve Bank of Australia (RBA) data indicates that nearly two-thirds of younger Australians—aged 18 to 29—make mobile payments. This marks a substantial rise from the less than 20 per cent recorded in 2019.

Mobile payments are on the rise even among older Aussies, those aged 65 and over. Approximately nine per cent of the age group regularly use mobile payment methods, three times the proportion seen in 2019.

The public consultation for proposed changes to the Payment Systems (Regulation) Act of 1998 began on Tuesday, October 10. This update aims to modernise the definitions of 'payment' and 'payment systems' to encompass new payment methods widely used now and in the future.

In June, Dr Chalmers mentioned that cheque payments will be gradually phased out by 2028. A goal has been set to end the use of cheques completely in 2030.

He explained that at present, nearly all retail and personal cheque transactions (98 per cent) can be efficiently handled through Internet or mobile banking, and this also applies to all cheques used in institutional and commercial settings (100 per cent).

Dr Chalmers emphasised that retaining cheques within the payment system has become increasingly expensive to manage a declining portion of transactions.

This news follows a growing trend among retailers and financial institutions to embrace cashless transactions.

Recently, we shared information about a major bank's decision to shift towards digital-only payment systems. This change will involve discontinuing cash, check, and phone payments for their customers.

For more information on this story, read the full article here.

Key Takeaways

• The Albanese government plans to regulate digital payment wallets like Google Pay and Apple Pay similarly to other payment systems.
• The draft legislation would allow the Reserve Bank to control new and emerging digital payment services, purportedly to protect consumers and promote competition.
• Public consultation for amendments to the Payment Systems (Regulation) Act 1998 opened on October 10, aiming to update the definition of 'payment' and 'payments systems' to include a broader range of current and future payment methods.
• As part of these legislative changes, the government plans to wind down cheque payments by 2028, with requirements for their use removed by 2030, reflecting a move towards digital payment methods.

What are your thoughts on this news, members? Do you regularly use cheque payments? If so, do you agree that replacing them with digital methods is better? Share your thoughts on Australia's move to 'cashless' transactions in the comments below!

I am 83 and ok with it, but I love all the tech stuff. How many seniors can’t manage on line? Spoke to lady on supermarket cash register so many seniors still using cash and dreading any change as they don’t know what to do.

 

[DiRose]

I still use cheques occasionally. Clubs need them for event payments. Will banks still issue Bank Cheques (and overseas drafts) to pay amounts where they don't have enough cash to satisfy requirements? Abolishing cheques is a huge step backwards, especially for those who can't use electronic systems.

Actually CLUBS can now pay electronically. One person (Treasurer) sets up the payment and a second person (President/Secretary or other authorised committee person) can log in and make the second authorisation. It's been done by our 'club' for about 5 years now. We still try to pay Judges by Cash if they prefer, otherwise electronic deposit to their account. Several Banks offer this option. We use a 'Community Bank' in preference to one of the Big Titan Banks.

 

[DiRose]

I am 83 and ok with it, but I love all the tech stuff. How many seniors can’t manage on line? Spoke to lady on supermarket cash register so many seniors still using cash and dreading any change as they don’t know what to do.

I love the tech stuff too, sure it's quick and easy, however if you don't believe how much you are being tracked, visit a website and look at something different. Tomorrow in your feeds (email/facebook) you will see the majority of the adverts are targeting exactly that product you were looking at. Test it!!!

 

[Squizzy1]

The way Aussies pay for things is changing, and it's time to say goodbye to one that has been around for many years: cheque payments.

The Albanese government has announced draft legislation to regulate digital payment methods like Apple Pay and Google Pay in the same way as cards. They're also taking steps to phase out cheques entirely within the next few years.

The draft legislation would allow the Reserve Bank to control new and emerging digital payment services to protect consumers and promote competition.

For many, this may seem concerning. But Treasurer Jim Chalmers has reassured that digital payments are safer, more convenient and will benefit all Australians in the long run.

'As payments increasingly become digital, our payments system needs to remain fit for purpose so that it delivers for consumers and small businesses,' he said.

'We want to make sure the shift to digital payments occurs in a way that promotes greater competition, innovation and productivity across our entire economy.'

View attachment 31910

The Federal Government is moving to regulate digital wallets. Credit: Unsplash.

Cheque usage has been declining steadily. According to government data, in the June quarter of 2023, 35 per cent of all card transactions were carried out using digital wallets—a significant increase from the 10 per cent recorded in early 2020.

Moreover, Reserve Bank of Australia (RBA) data indicates that nearly two-thirds of younger Australians—aged 18 to 29—make mobile payments. This marks a substantial rise from the less than 20 per cent recorded in 2019.

Mobile payments are on the rise even among older Aussies, those aged 65 and over. Approximately nine per cent of the age group regularly use mobile payment methods, three times the proportion seen in 2019.

The public consultation for proposed changes to the Payment Systems (Regulation) Act of 1998 began on Tuesday, October 10. This update aims to modernise the definitions of 'payment' and 'payment systems' to encompass new payment methods widely used now and in the future.

In June, Dr Chalmers mentioned that cheque payments will be gradually phased out by 2028. A goal has been set to end the use of cheques completely in 2030.

He explained that at present, nearly all retail and personal cheque transactions (98 per cent) can be efficiently handled through Internet or mobile banking, and this also applies to all cheques used in institutional and commercial settings (100 per cent).

Dr Chalmers emphasised that retaining cheques within the payment system has become increasingly expensive to manage a declining portion of transactions.

This news follows a growing trend among retailers and financial institutions to embrace cashless transactions.

Recently, we shared information about a major bank's decision to shift towards digital-only payment systems. This change will involve discontinuing cash, check, and phone payments for their customers.

For more information on this story, read the full article here.

Key Takeaways

• The Albanese government plans to regulate digital payment wallets like Google Pay and Apple Pay similarly to other payment systems.
• The draft legislation would allow the Reserve Bank to control new and emerging digital payment services, purportedly to protect consumers and promote competition.
• Public consultation for amendments to the Payment Systems (Regulation) Act 1998 opened on October 10, aiming to update the definition of 'payment' and 'payments systems' to include a broader range of current and future payment methods.
• As part of these legislative changes, the government plans to wind down cheque payments by 2028, with requirements for their use removed by 2030, reflecting a move towards digital payment methods.

What are your thoughts on this news, members? Do you regularly use cheque payments? If so, do you agree that replacing them with digital methods is better? Share your thoughts on Australia's move to 'cashless' transactions in the comments below!

Since Banks usually get what they want, I hope this legislation includes the removal of surcharges for the service, like Aldi etc charge, and that Banks would be obliged to still accept and distribute cash as needed.

 

[wiskers50]

You can always tell when a politician is talking bullshit because thier lips are moving

 

[IAN3005]

The way Aussies pay for things is changing, and it's time to say goodbye to one that has been around for many years: cheque payments.

The Albanese government has announced draft legislation to regulate digital payment methods like Apple Pay and Google Pay in the same way as cards. They're also taking steps to phase out cheques entirely within the next few years.

The draft legislation would allow the Reserve Bank to control new and emerging digital payment services to protect consumers and promote competition.

For many, this may seem concerning. But Treasurer Jim Chalmers has reassured that digital payments are safer, more convenient and will benefit all Australians in the long run.

'As payments increasingly become digital, our payments system needs to remain fit for purpose so that it delivers for consumers and small businesses,' he said.

'We want to make sure the shift to digital payments occurs in a way that promotes greater competition, innovation and productivity across our entire economy.'

View attachment 31910

The Federal Government is moving to regulate digital wallets. Credit: Unsplash.

Cheque usage has been declining steadily. According to government data, in the June quarter of 2023, 35 per cent of all card transactions were carried out using digital wallets—a significant increase from the 10 per cent recorded in early 2020.

Moreover, Reserve Bank of Australia (RBA) data indicates that nearly two-thirds of younger Australians—aged 18 to 29—make mobile payments. This marks a substantial rise from the less than 20 per cent recorded in 2019.

Mobile payments are on the rise even among older Aussies, those aged 65 and over. Approximately nine per cent of the age group regularly use mobile payment methods, three times the proportion seen in 2019.

The public consultation for proposed changes to the Payment Systems (Regulation) Act of 1998 began on Tuesday, October 10. This update aims to modernise the definitions of 'payment' and 'payment systems' to encompass new payment methods widely used now and in the future.

In June, Dr Chalmers mentioned that cheque payments will be gradually phased out by 2028. A goal has been set to end the use of cheques completely in 2030.

He explained that at present, nearly all retail and personal cheque transactions (98 per cent) can be efficiently handled through Internet or mobile banking, and this also applies to all cheques used in institutional and commercial settings (100 per cent).

Dr Chalmers emphasised that retaining cheques within the payment system has become increasingly expensive to manage a declining portion of transactions.

This news follows a growing trend among retailers and financial institutions to embrace cashless transactions.

Recently, we shared information about a major bank's decision to shift towards digital-only payment systems. This change will involve discontinuing cash, check, and phone payments for their customers.

For more information on this story, read the full article here.

Key Takeaways

• The Albanese government plans to regulate digital payment wallets like Google Pay and Apple Pay similarly to other payment systems.
• The draft legislation would allow the Reserve Bank to control new and emerging digital payment services, purportedly to protect consumers and promote competition.
• Public consultation for amendments to the Payment Systems (Regulation) Act 1998 opened on October 10, aiming to update the definition of 'payment' and 'payments systems' to include a broader range of current and future payment methods.
• As part of these legislative changes, the government plans to wind down cheque payments by 2028, with requirements for their use removed by 2030, reflecting a move towards digital payment methods.

What are your thoughts on this news, members? Do you regularly use cheque payments? If so, do you agree that replacing them with digital methods is better? Share your thoughts on Australia's move to 'cashless' transactions in the comments below!

Jim Chalmers "assures" us.... pftttt.... pull the other one it plays jingle bells... Charmer that he is...... hopefully I will be in the happy hunting grounds by 2030 and the rest of them can put up with this rot......

 

[AlanQ]

The thing about freedom is that it is very fragile.

Cheques might not be something that you use, but it is still a freedom that others have and do use.

Once you allow the government to take one freedom away, they get a taste for it.

Pretty soon you find yourself losing more and more, until you don't have any freedoms left.

Also remember that all digital payment systems can be turned off remotely.

If you don't have a non-digital alternative, you can find yourself without the ability to feed yourself or your family.

Which is what happened to the farmers in Canada who defied the government during Covid.

it's called cash

 

[Aussiecris]

I do believe CASH is still LEGAL TENDER in Australia. If so then cash must be excepted as payment for a purchase. Until the Government withdraws cash as legal tender nothing changes. It is the Government that decides NOT the banks.

No the business can decide if they want to accept cash or not, legal as long as they display a sign

 

[mylittletibbies]

No the business can decide if they want to accept cash or not, legal as long as they display a sign

Yes, that's right. As crazy as the law might be they can actually refuse to take cash as long as they have a sign to that effect, or advise you before you purchase
Who makes these stupid laws???

 

[gordon1940]

You can always "STOP" an issued Cheque very easily. Dunno about a processed Electronic Transfer.