Proposed bill aims to fine businesses and individuals up to $25,000 for refusing cash payments

In an era when tapping a card or phone has become the norm for transactions, the humble banknote could be making a comeback, and refusing it might cost businesses and individuals a hefty price tag.

A new legislative push by former Nationals MP Andrew Gee could see fines of up to $25,000 levied against those who turn away cash payments.



The proposed bill, Keeping Cash Transactions in Australia Act 2024, introduced by former Nationals Member of the Parliament (MP) Andrew Gee to the federal parliament, aims to safeguard the consumer's right to use cash, especially for transactions under $10,000.

While individuals could face fines of up to $5,000, businesses would face fines of up to $25,000 for refusing to accept cash.

The only time one could justifiably turn down cash is if it poses a 'security' threat.


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MP Andrew Gee proposed a bill where businesses and individuals could face a fine of up to $25,000 for refusing cash transactions. Credit: Shutterstock


Despite the digital shift in our spending habits, particularly accelerated by the COVID pandemic, cash is experiencing a resurgence.

The Reserve Bank of Australia's data indicated a 3.6 per cent increase in ATM cash withdrawals in February this year compared to the same month in 2023.

Andrew Gee's stance is clear: ‘I don’t think it is too late because many Australians, particularly senior Australians, who are the heaviest users of cash, still want the freedom to use it, and why shouldn’t they have that freedom?’

While the Private Member’s Bill can be a difficult bill to pass, Gee hoped for its possible legislation.

‘I think while…we have Australians out there who have concerns about using card and online banking, then we should give them the option of cash, and I don’t think it’s too much to ask,’ he said.



The bill, supported by Independent MPs Bob Katter and Dai Le, recognises the diverse needs of communities.

‘It’s vital for our community in western Sydney, and in particular culturally and linguistically diverse communities because a lot of them do not trust the banking system,’ Le said.

The Senate's inquiry into rural banking services also highlighted the need for 'reasonable access to cash and financial services' across the nation.

But it's not just about convenience or preference. As journalist Suzanne Mostyn pointed out on Sunrise, going cashless isn't an option for everyone.



‘There are people in rural areas, and they’re not all oldies, who are shovelling cash under the mattress, but there are people who genuinely don’t want to be tracked,’ Mostyn said.

‘Women who are fleeing domestic violence situations, who want anonymity as to where they’re going and where they’re being sheltered.’

‘There is a lot more to this than meets the eye.’

The push for this bill comes as banks like Macquarie Bank are moving towards a cashless model, citing changes in customer banking habits.
Key Takeaways

  • Former Nationals MP Andrew Gee has introduced to parliament the Keeping Cash Transactions in Australia Act 2024, which proposes fines for businesses and individuals that refuse cash transactions below $10,000.
  • Under the bill, individuals could be fined up to $5,000 and businesses up to $25,000, with an exemption only for security reasons.
  • The use of cash in Australia has increased, with more Australians, especially senior citizens, wanting the freedom to use it.
  • Independent MPs, including Bob Katter and Dai Le, are supporting the bill, highlighting its importance for rural and culturally diverse communities that may distrust the banking system.
Have you encountered businesses that refuse cash? Do you prefer cash transactions for certain purchases? Share your thoughts and experiences in the comments below.
 
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The argument by Macquarie Bank that cites "Changes in Banking habits" is spurious as when banks close branches and take away ATM machines, they force customers to "change their habits". Many people prefer cash as there are no fees attached. The banks want a cashless society as they get a fee on every transaction and are making enormous profits, so why wouldn't they push for a cash ban. And. in the extreme possibility that our systems or electricity grids were down, we need cash to buy anything.
Exactly, the one and only reason banks want to be cashless is their bottom line.
Sack more staff, close down all the ATMs, close down more and more branches and then increase card transaction fees.
Blind Freddie can see their motivation and it isn't anything to do with the public preferring cards.
 
We should have th3 option of cash/card. I always pay cash for small purchases, as the fees that are charged amount up very quickly. You cannot pay cash at the MCG in Melbourne, it makes it hard if the kids want to buy something - it means the parents have to accompany them, it loses their independence and learning how to use cash. Also, what happens when kids do odd jobs and are paid cash. I do hope this bill goes thru. The government wants a cashless society so they can trace your money, big brother watching over us!!
 
Cone on everyone not all people have cards older people have used cash all there lives and do not know whow to use them and fee's apply the banks are screwing use over closing down so many branches people on a pension can not get taxis to get into town if they are even able too. This is just not on stand together it's still legal tender?????????
 
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It's primarily the Govt and banks that are pushing to go cashless.
Children need cash to learn about money; homeless people on the street and buskers need cash; charity tin collectors need cash; a lot of older people prefer cash; car boot and garage sales prefer to deal in cash.
 
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YEs and without notification one week we could use cash the next we couldn't even the staff of that business were very upset by it because they coped the anger of the customers. Living on a pension we have budgeted our life around it if we can't pay cash for things like groceries of other purchases it would leave our budget useless and this budget is the only thing that keeps our head above water. We would lose money via banking fees, I believe businesses should be fined because they are refusing legel tender they are refusing people their rights to use cash and to choose.
 
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I think we should all fight for the right to use cash. The banks are closing branches removing ATM s because if they can force a cashless society they increase their profits enormously, not having to rent premises, employ staff,pay electricity ,plus they charge businesses a surcharge to use their eftpos machines which is then passed on to the customer. Once again it is all about greed, the big corporations are destroying our way of life . I will fight to use cash ,yesterday i had a worker fix my car when he saw i was paying him in cash he dropped the price by $15.00 without being asked ,not much you might say but $15.00 is a weeks veggies to a senior living alone.
 
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Yes Yes Yes and now small business. Sorry Card Only Signs.
Coffee Shops Motels other Accommodation. I travel from North Coast to Sydney areas. I am seeing more of it and the excuse is "Security" and what is My Gee's Private Members Bill. Cash at all times to be available at the desk "EXCEPT for SECURITY" So you can see what is going to happen. My Gee should add there is no Charge for using your card and Business cannot place prices like they do for Sunday and Public Holiday Trading.
 
I don't get it when businesses charge for card usage, quoting that it costs them for the transaction etc. Everything to do with running the business is tax deductible, so it doesn't really cost them at all. It's just a money grabbing exercise.
 
I prefer to use cash, where possible I don’t use businesses that don’t. Some even charge for using a card but don’t except cash. That is extortion I believe.
 
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I don't get it when businesses charge for card usage, quoting that it costs them for the transaction etc. Everything to do with running the business is tax deductible, so it doesn't really cost them at all. It's just a money grabbing exercise.
Challenge the businesses that have a charge ... they are the ones that add the charge, not the bank.
 
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I just want to refer to this sentence in the article, and I quote: “The push for this bill comes as banks like Macquarie Bank are moving towards a cashless model, citing changes in customer banking habits.”

How dare banks cite this as being ‘customer banking habits’. They are the ones denying cash use by customers and then have the audacity to say this is due to ‘customer banking habits’. Banks are putting staff out of work by shutting down teller sites because they want us to go cashless AND then charging stores who charge us in turn a fee for using a card. COME ON.
 
This bill will not pass!
It does not suit the agenda of the governments desire to know exactly where you spend every cent of your $$$.
A company named HOUSE has been cashless for mote than a year now.
And FFS stop blaming Covid.

Covid was introduced for two reasons: Reduce the old age population of the world & to force is into a cashless society where governments have complete knowledge and control of peoples finances!

Our own local council, Casey , is totally cashless when you go to their theatre and cafe at Bunjil place.

Don‘t think they will receive a fine if this bill just happened to pass!
100% this is why! govt wants to know every move you make, where you go..computers crash, people can't pay for their products they want and NEED. Like Klaus Swab said, You will have nothing and be happy..go check out the WEF, its on there.....
 
I have been refused cash service at the a Morley Coventry's public tavern there are 2 of them but this one after I ordered a round of drinks told me they would not accept cash only C/Cards. I have also been told that some coffee houses -cafe's have a sur-charge on swipe & go -credit card payments they add extra to the price of between 1.5 & 5 percent as do service stations so I see why Banks & some businesses do not want cash after all Australian banks are driven by GREED & businesses only want to make money
 
I live in outback Qld where cash is the only way to transact business. From buying a cup of coffee to buying from markets, cash is the only way to go. If they take away cash, life stops. Great if you live in a city but we don't.
 
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