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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I have found 3 businesses that won’t accept cash, and have made it very clear to them they will no longer get my business. I hope the bill passes
I’m with you.
NRMA refused to take cash, no longer with them.
Cash is king 🤴
 
The ones who don't accept cash I believe should be fined, I needed an item from a electrical store that would not sell me what I wanted unless I used a card, I don't normally purchase things by card as I believe it is open to fraud whereby if I have the cash to pay for it I know how much i have left both in the bank and in my wallet. There are many aged pensioners who are unable to use a card, I have a sister who is 92 and now has to get her Daughter to purchase her grocery items because she hasn't got a clue on how to use her Card.
 
It's true I think the majority of Older Citizens would agree. We should have the right to choose. The same as the
Super Markets Cash or Card. As well as those people who want to see a face at the Checkout, I'm one of them.
 
What about Garage sales,, Sausage sanger at a fund raising event,, Salvos door knocking for charity etc etc .. Personal Items for sale (a form of recycling).. How does this happen without cash.. Good god,, let people live a normal life.. Im glad my kids have grown up.. I wouldnt be able to give them pocket money....
 
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!
What a lot of crap. Covid was NOT introduced. No one is trying to reduce the aged and the government is not interested in when you go to Coles.

FFS, you paranoid people are nuts. I think your tin foil hat is too tight.
 
Have seen many a traveller
in the country stranded because they only carry a card. Either the net or phone were down.
I spent 20 years on the road, 6 days a week for work, traveled over 2 million kms mostly on rural roads around the country and into every corner of the country and never had an issue using my card. The net or phone is never down for days at a time and there's always fallback options the retailer can apply, so your "story" sounds suspect.
 
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Bottom line……Unless the use of cash is banned, or to use it becomes illegal, then, as the legal currency of Australia there should be absolutely no reason for any businesses to refuse cash when tendered. However , I know there are lots of places where card is preferred and I know that businesses have the option to choose how they receive payment, but those places should have it clearly displayed…..i think it’s mostly restaurants that do this. Everyday shops though should legally accept payment in cash, that option should always be available…….as someone already wrote, to accept card only payments would take away a lot of choices….we couldn’t having car boot sales, fund raisers, help for the needy on the streets, pocket money for the kids to learn how to manage their money……I mean, if cash goes does that mean that potentially a lot of us will have to carry machines to receive payment for anything we might want to sell, the alternative being to give a virtual stranger our bank details……..and nobody in government or the finance sector should be able to make choices for us or tell us how to live……we’re not a communist country…..
 
What a lot of crap. Covid was NOT introduced. No one is trying to reduce the aged and the government is not interested in when you go to Coles.

FFS, you paranoid people are nuts. I think your tin foil hat is too tight.
I agree….:LOL:
 
I was listening to a discussion on the radio this morning and someone asked "What about the tooth fairy, does she do a bank transfer ?" and what about pocket money, how do kids learn about the value of money if all they know how to do is tap and go ?
 
Yes I agree, businesses should accept both form of payment. I only use my card if the amount is over $100.00. There is no surcharge on cash, better for small business they save on having to pay for the charges the bank charge, if for any reason the electricity goes down then you close as you cannot take payment.
 
This is a fantastic move, I agree wholeheartedly, those without a credit card will be jumping for joy if it's introduced.
 
I went to our local service station last week. Notice on pumps saying "EFPOS Down cash only. Bloke in front of me drove off, and so did I, only had $10.00 in the wallet. Last weekend the local Lions Club had a second hand-books sale offering cash/card. 66% of transactions were cash. People commented that they were pleased the Club took cash.
 
My vote is to keep the cash option. Sick and tired of governments and overbearing banks telling us how to use our own money.
 
I prefer cash because of the fact that useing your card at alot of coffee shops and take away placess incurs a surcharge
 
Not everybody has a card so yes I think we should be able to use cash
 
cash is king , I pay with cash all the time, I do have a card, but only to take my money out of an atm, I need to know how much I spend and what it goes on. cards only make it easier for bank to get a fee, and the money in my account is mine to pay for my things, not the banks
 

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