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.


shutterstock_1297608724.jpg
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.
 
Last edited:
Sponsored
100 % should be able to pay with cash. Albo's bunch are dictators. Other pay for him and his mates, they have no idea. Morons.
 
  • Like
Reactions: pascoevale
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!
That’s a very good point the castes are controlling and make the banks a fortune anf people with multiple cards doing even care
So you would like a smaller fine?
Large companies will laugh at a small fine and still refuse cash!
They will to to aragant the only respons
 
Cash is legal tender in Australia therefore must be excepted anywhere in the country, I had a incident a while back where the store would not except cash I told them that it's illegal not to except cash didn't make any difference ( I had a debt card in my wallet but I refused to use it) so I walked out leaving what I was going to purchase at the register. I got a straight look from the staff which just helped me provide the point.
 
Do not give any government absolute power over your money. Do not follow China this way.
 
  • Like
Reactions: Annna
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.
I agree with you. I've been saying the "change" banks carry on about was orchestrated by the banks from about 1980 when these banks introduced ATMs.

They went to ATMs, then phone banking, then card transactions, then online banking while at the same time introducing fees for branch transactions.

These actions amounted to coercion.
 
  • Like
Reactions: 4UMicki
I Carry both,but refuse to pay for a coffee by card,move to the next business,that will take cash,so on,I'm not that desperate,will go without,I also on occasion taken my own 😊
 
Cash to stay...it can always be used on a daily basis any time any where particularly if and when the internet is down. CASH is after all a legal tender and until the Government of the day decides to put it to the People via a referendum I for one, cannot see them making us using cards!
 
Well, wonders will never cease ! I NEVER thought I would support anything put forward by the National Party, but, he's got my support on this one !!!
 
About time something was done about these businesses who won’t accept cash. When eftpos goes down do they turn customers away because they won’t normally accept cash, I bet they don’t.
 
There are shops in Albany WA, that are cashless now, it is annoying.
at the airport, the cafe only accepts card payment.
and they make you pay for the bank cost of transaction.
it is so expensive, and customers have no option, if a flight is delayed, or cancelled, but to use the service.
the airport is about 10 km away from the nearest other retail outlet.
and many people do not drive themselves there.

i say cash should always be an option.
i was. told that a business that does not except cash can not charge the fee??
 
Wish they’d do the same for businesses that refuse to take cards - they’re usually just avoiding paying tax, which is an offence
 
  • Like
Reactions: Aussiecris
Fine is too heavy, but agree I'm over businesses that won't take cash and charge a surcharge. Actually the card surcharge is what I want to see abolished it costs consumers hundreds to thousands of dollars a year
and it doesn't cost the banks anything to process these transactions as they would all be done on their computers. They are just ripping off their customers.
Maybe their should be a fine for banks that charge a fee for transactions using cash cards, credit cards might reasonably attract a fee to process.
 
Wish they’d do the same for businesses that refuse to take cards - they’re usually just avoiding paying tax, which is an offence
They still have to pay tax as the transactions goes through their books. They are avoiding paying the bank fees for using a card. I will always support companies that take cash, although sometimes I am glad of my cards when my cash has run out in my wallet.
 
Hope he succeeds with his act. As soon as a phone company has an outage, businesses soon put up a sign - "we welcome cash" when in the past they don't. We need to have a choice, card or cash. The more you use a credit card supermarkets and other companies know just what you spend you money on, In other words you usage of a card is being tracked.
 
I object to being denied the option of paying in cash and then copping a fee for using a bank card. If they refuse cash they shouldn’t be permitted to render the surcharge fee . I’m increasingly using cash nowadays and will boycott venues that refuse cash.
The majority of theft and fraud is card related currently and being coerced on this and electronic only communication isn’t making sense with all the scammers having a field day.
 
I object to being denied the option of paying in cash and then copping a fee for using a bank card. If they refuse cash they shouldn’t be permitted to render the surcharge fee . I’m increasingly using cash nowadays and will boycott venues that refuse cash.
The majority of theft and fraud is card related currently and being coerced on this and electronic only communication isn’t making sense with all the scammers having a field day.
I refuse to have electronic communication from companies. This is just another way they save money by pushing the cost to us - cost of necessary computer, cost of internet, cost of electricity to run it, cost of security (e.g. Norton) to protect us from scammers, cost of printer & paper to produce a hard copy for reference, cost of my time to control all of these steps, while they save on paper, postage, staff to print & post this mail.
 
The Digital ID has to go also, looks like we dodged the WHO trying to power grab and dictate our health decisions ,was coming up this week for a vote by member countries , this government would have voted our rights away
 
How odd that I should fully support a Parliamentary bill, and its penalties, prepared by our Tories. Good on ya, guys!
 

Join the conversation

News, deals, games, and bargains for Aussies over 60. From everyday expenses like groceries and eating out, to electronics, fashion and travel, the club is all about helping you make your money go further.

Seniors Discount Club

The SDC searches for the best deals, discounts, and bargains for Aussies over 60. From everyday expenses like groceries and eating out, to electronics, fashion and travel, the club is all about helping you make your money go further.
  1. New members
  2. Jokes & fun
  3. Photography
  4. Nostalgia / Yesterday's Australia
  5. Food and Lifestyle
  6. Money Saving Hacks
  7. Offtopic / Everything else

Latest Articles

  • We believe that retirement should be a time to relax and enjoy life, not worry about money. That's why we're here to help our members make the most of their retirement years. If you're over 60 and looking for ways to save money, connect with others, and have a laugh, we’d love to have you aboard.
  • Advertise with us

User Menu

Enjoyed Reading our Story?

  • Share this forum to your loved ones.
Change Weather Postcode×
Change Petrol Postcode×