In an era where the tap of a card often replaces the clink of coins, the Australian government is considering a significant shift that could impact the way we use money.

For those who prefer the tactile sensation of banknotes and the jingle of change in their pockets, here's how you can have your say on the future of cash transactions.

The government proposed a new law requiring certain businesses to accept cash payments.

This move acknowledged the digital divide and the Australians' reliance on physical currency.

The proposed law, which could take effect early next year, was a response to the growing trend of businesses going cashless.

While digital payments offer convenience and speed, they also raised concerns about accessibility.

The government should have a decision about the proposal later this year. Image Credit: Pexels/Towfiqu barbhuiya

According to the government, 1.5 million Australians still use cash for 80 per cent of their transactions.

The government's discussion paper, released last year, showed the types of businesses that should continue accepting cash.

The list mostly contained essential services like groceries, medical care, and pet services, among others.

Businesses like cafes, takeaways, bottle shops, and hairdressers may be exempted from this rule.

One of the critical considerations for the said law was security, especially for small business owners who may be vulnerable to theft.

Business owner Bryan Wareham, who runs The Heritage Bakery, shared his concerns about carrying large sums of money for his shop.

'We would have somewhere in our possession possibly considerable amounts of money, and if I'm the owner of the business walking to my car and I get whacked over the head with a spade by someone who thinks I have the money in my pocket, no, I don't want that,' Mr Wareham stated in an interview.

The government also included a couple of exceptions within the legislation.

According to the proposal, cash acceptance should be cut off after 10 pm for safety reasons.

There could also be transaction limits, as shops may only accept cash payments if items do not exceed $500.

This consultation period could be an opportunity for Australians to weigh in on the issue.

It is also a chance to voice opinions on how the rule should operate and to address stakeholder concerns before making a final decision later this year.

The consultation period for the proposed law will end on Friday, 14 February, and encouraged the public to share their thoughts and input about the legislation as soon as possible.

The proposed law should require the following businesses to accept cash. Source: Yahoo Finance

This could be a pivotal moment for Aussies, especially seniors and rural residents who prefer or rely on cash payments.

You may send your thoughts about the proposed law via email at [email protected] on or before 14 February.

Concerned citizens may also send their submissions via mail to this address:
Director, Retail Banking and Currency Unit
Banking and Credit Branch, The Treasury
Langton Crescent, PARKES ACT 2600

The cashless revolution has been convenient for some, but it should not leave anyone behind.

Whether it's due to a lack of trust in digital transactions, difficulty in accessing technology, or simply because of preference, cash options remain significant for a substantial portion of the population.

Key Takeaways

• Australians have until Friday, 14 February, to submit their opinions on a proposed law mandating businesses to accept cash.
• The new law targeted businesses providing 'essential services' and another list for consideration that may exempt other businesses.
• A consultation process is underway, and the government is considering various conditions for safety reasons.
• The push for the cash acceptance law was a response to 1.5 million Australians who still use cash for their daily transactions.

What are your thoughts on the proposed cash acceptance law? Have you sent your suggestions to the authorities? Share your thoughts and suggestions with us in the comments below!

 

[Suzanne rose]

I always use card , the only time I may use cash is when my kids give me cash and ask me to transfer.

I've always said it would be safer for business not having cash, less robberies.

However I don't believe excepting cash should cease. We should have both options

 

[steve.bryce]

the email address you have listed for us to send our comments to .... is wrong.
it does not work, but comes back as an incorrect address.

[email protected].

do not use the email written above.

 

[steve.bryce]

if you use a card .... the bank makes their fee off of the transaction.
every transaction.
every time.

so, your money diminishes in value.
the bank gets richer, and we get poorer.

if you use cash, the bank only makes a fee when someone hands that cash into the bank.
it circulates fee free.

So, is this the real reason banks want us to go cashless ???

 

[Liz]

How do you pay a vet in cash? My vet bills are usually so high that I wouldn't carry that sort of cash with me, safely. I do, however, agree that cash should be accepted in certain places not just cards.

 

[Jay Jay]

I would not be patronising Mr Wareham's bakery. I will not use a card to pay for a coffee and a toastie. I do not patronise hospitality businesses which do not accept cash, nor larger businesses that do not offer a choice. As was pointed out by Steve above, my $10 cash note will always have a $10 value whereas if paying by card it dimishes by the fees banks and businesses decide to take from it. If cashless becomes NOT the buyer's choice there should be no fees.

 

[Zemo]

Surely there should be an option when it comes to paying for something. It should be mandatory that cash should always be an option, as should "cashless" transactions. Nobody should be forced to use only one of them to suit a business's way of operating.
If you don't like it, then move on. Surely you don't have to buy the item immediately? Wait until you find a business which looks after its customers (and itself) by having both ways of selling goods. I know which one I'd use if given the choice. If I have no choice, then that business misses out on a sale.
But don't just tell the checkout chick (to use an old term), she doesn't have to worry about it. Make sure you inform the store manager. If enough people do it, then you can guarantee a rethink on the store's part.
Nothing is so important that a sale can't be delayed until it suits you.

 

[TIG2]

Its the thin edge of the wedge to get rid of cash. We MUST keep cash, the internet is to unreliable and if it goes down you are stuck with no way to pay. Also everything you buy had a fee to cover the use of machines even if the shop says no fee you can be sure the price of the item has included that fee

 

[Don Hortin]

Leave Both Options Available especially when there are electronic failures that we have seen several times ! Funny how the Card Only businesses put signs up stating we will accept Cash Today ! We'll I'm afraid they don't get my business, I go to dual operators that satisfy both options !

 

[Teddy is my boy]

I don’t understand businesses that don’t want cash. My daughters shop said the fees for her with card transactions were ridiculous. if the purchase was small such as a newspaper or bottle of water she made no profit if a card was used.

 

[Bill MacL]

if you use a card .... the bank makes their fee off of the transaction.
every transaction.
every time.

so, your money diminishes in value.
the bank gets richer, and we get poorer.

if you use cash, the bank only makes a fee when someone hands that cash into the bank.
it circulates fee free.

So, is this the real reason banks want us to go cashless ???

THAT IS EXACTLY THE REASON, WE END UP DOING THEIR WORK FOR THEM AND THEY CHARGE US FOR DOING IT. MY ELECTRICITY COMPANY IS INSTALLING A NEW SMART METER FOR FREE, BUT THE BILLS ARE GOING TO BE MONTHLY INSTEAD OF QUARTERLY, SO THE FEES WILL NOW BE 12 INSTEAD OF 4 A YEAR. SNEAKY BASTARDS. HOW MANY PEOPLE MISSED THAT LITTLE INCREASE?

 

[jon24lyn]

I only use cash for day to day needs and will not shop at places that don’t accept cash.I will continue to do this in the future. I hope the government will fix this so us oldies can still use cash.

 

[Dennis]

My Visa card is only used for emergencies.

 

[duckiedoodle]

All businesses should be required to accept cash, not just some. Sure, some items/services cost a lot, and it's unlikely that someone would pay cash, but the option should always be there.

 

[ZipZap60]

Hi I need Cash as I dont have a Car and I get my Neighbours to get me Milk n Bread and other Stuff if I need anything if im cooking

 

[Mr Chips]

How do you pay a vet in cash? My vet bills are usually so high that I wouldn't carry that sort of cash with me, safely. I do, however, agree that cash should be accepted in certain places not just cards.

I would not be patronising Mr Wareham's bakery. I will not use a card to pay for a coffee and a toastie. I do not patronise hospitality businesses which do not accept cash, nor larger businesses that do not offer a choice. As was pointed out by Steve above, my $10 cash note will always have a $10 value whereas if paying by card it dimishes by the fees banks and businesses decide to take from it. If cashless becomes NOT the buyer's choice there should be no fees.

Besides, a one-man business does not need to deposit his cash because he can use it to buy supplies or simply things that he might like, gifts for the family, etc all of course not having to pay any tax as it is untraceable!!!

 

[dabski2]

Both forms should be available everywhere, without exception. When used, cards should not have a fee attached. Banks are making Billions in Profits, and we are the ones accumulating $ for them.

 

[Mr Chips]

I think sometimes we forget that cash is the legal tender as described in our laws and therefore businesses cannot refuse payment in cash. It is a federal (and Royal) requirement. That is one of the advantages of having the Royal Family as our heads of state.
From my days selling motor cars, I remember that we often used to accept cash payments from buyers who were coming in from long distances. They often appeared with limited English and were from specific professions which I will not describe for obvious reasons. They would search the stock and decide what they wanted, some of our cars were often around the $50,000.00 mark (used cars that is) and once they decided it was right they would sit down at my desk and pull out of their jackets or shorts or bags rolls and rolls of cash. When I asked them to complete a "significant cash transaction" form (required for amounts over $10,000.00) at the time, they would turn in some very odd facial colours and expressions. So I think that the government is obviously aware of this and they are trying to find a way to control the tax aspect of these transactions.

 

[orange]

Who will come to our aid when the ATM goes on the blink ? We need to have a certain amount of cash to tie us over. Especially women with young children .. Not forgetting the Elderly ..

 

[TIG2]

THAT IS EXACTLY THE REASON, WE END UP DOING THEIR WORK FOR THEM AND THEY CHARGE US FOR DOING IT. MY ELECTRICITY COMPANY IS INSTALLING A NEW SMART METER FOR FREE, BUT THE BILLS ARE GOING TO BE MONTHLY INSTEAD OF QUARTERLY, SO THE FEES WILL NOW BE 12 INSTEAD OF 4 A YEAR. SNEAKY BASTARDS. HOW MANY PEOPLE MISSED THAT LITTLE INCREASE?

Besides, a one-man business does not need to deposit his cash because he can use it to buy supplies or simply things that he might like, gifts for the family, etc all of course not having to pay any tax as it is untraceable!!!

There will always be a fee, you may just not see it, hidden in an increase in the price of the item or a reduction in the quality or size of the item. What about the cashless indue card Dutton plans to introduce for the age pension ? how much of the small pension is going to be lost on card fees.