In an age where digital transactions are becoming the norm, the push towards a cashless society has sparked a fiery debate in Queensland.

Street Feast, a small business known for its vibrant night-time food festivals and markets, became the centre of controversy when it announced a cashless entry policy for its events.

This decision has raised questions about banks' role in transitioning to cashless operations and the challenges small businesses face in adapting to new financial landscapes.

Street Feast, a staple in the Queensland community since January, charges a $2 entry fee per person.

With events spread across the state and northern NSW, including regional areas like Goondiwindi and Kingaroy, the business often handles a significant amount of cash.

Street Feast accused Commonwealth Bank of making it difficult to use cash. Credit: Shutterstock

Phoenix Diamond, the Sales and Relationships Executive at Street Feast, expressed safety concerns for staff members tasked with managing thousands of dollars in notes and coins.

‘That creates safety concerns for the staff members and owners, to be left with that much cash,’ he said.

The situation escalated when the company's bank, Commonwealth Bank of Australia (CommBank), was accused of making it 'actively difficult' to deal in cash.

This logistical nightmare prompted Street Feast to switch to a card-only policy, a move that was met with immediate backlash from the community.

One commented, 'Cash is king! Use it or lose it.’

‘I was all in until you stipulated “card only”. That’s a family of five who won’t be attending,’ another said.

‘I would also like to know why it is a card-only entry. I think that it is totally unfair, and as a business/event, it should be illegal to refuse legal tender,’ a third added.

The sentiment was so strong that Street Feast announced the return of cash payments at their gates.

‘We’ve heard you—loudly,’ a post on social media read.

‘We are bringing cash back at the gate to all our events. Please have the correct change.’

The controversy didn't end there. At one event, ‘protesters came out’, with some community members accusing Street Feast of being ‘part of a problem helping banks push cashless agenda’.

Diamond mentioned the ‘absolute uproar’ from the community also involved instances where staff were ‘abused’ at events by individuals who were ‘clearly upset’ about not being able to use cash for entry.

‘We had to call the police because one bloke was abusing staff, telling us we were responsible for the new world order,’ Diamond said.

In the face of such turmoil, Diamond pointed the finger at CommBank, criticising the bank for the difficulties in handling cash transactions.

‘For us, it was just an issue dealing with the banks—Commonwealth Bank specifically,’ he said.

‘There was one day in which the owner travelled to six different branches and the coin deposit system was down. It became a logistical nightmare.’

‘I don’t blame the reaction from the public. It was understandable. We understand their frustration, we share their frustration.’

‘But banks are making it impossible to do business with (cash)... It almost makes it feel like there’s a push to make it hard for businesses to operate.’

The bank, however, defended its services, stating that its coin deposit machines were operational 98 per cent of the time and emphasising the importance of cash in Australia's economy.

‘As we’ve said before, cash is and will remain an important part of Australia’s economy,’ a CBA spokesperson said in a statement.

‘In addition to the largest branch and ATM network in Australia, our business customers with coin handling requirements have access to over 850 designated self-service coin deposit machines.’

Key Takeaways

• A Queensland small business, Street Feast, faced an uproar after announcing cashless payment only at their events due to difficulties depositing coins at Commonwealth Bank branches.
• Street Feast hosts night-time food festivals and markets, where handling large amounts of cash posed safety concerns for staff.
• The community reacted strongly against the card-only policy, with some attendees refusing to attend and others accusing the business of supporting a cashless agenda.
• After significant backlash, Street Feast decided to once again accept cash at their events while expressing frustration at the banking challenges imposed by the Commonwealth Bank.

Have you encountered similar situations where cash was refused? Do you prefer cash transactions, or are you comfortable with the shift towards digital payments? Share your experiences and opinions in the comments below.

 

[Phantom55]

As an ex banker (25years working for them) I would swear on a bible that the banks' are behind trying to make us a cashless society as soon as possible. Just stop and think how much "No cash" adds to their profits. Reduced Insurance costs, reduced staff as no need to count or handle cash, elimination of ATMs' and all the expenses associated with operating them. And the list goes on. And of course, as usual, the spin the banks' use is that we, the customers, want this, and they are trying to help us. to that I say, BULLSHIT!!! AS one person in the article commented, Cash is legal tender. Surely businesses should not be allowed to refuse cash. If they do, go elsewhere. If we don't push back against a cashless society at every chance we get, then the Banks' will have won yet again.

they might just be outsmarting themselves if no cash ...why have a bank at all? getting rid of cash is the most dangerous change in society..think about it why would anyone need a bank? and how would society change (the mind boggles)

 

[Aussiecris]

At my local club, if I make a card payment, I get charged bank fees for doing so each time I tap. It's my money, not the banks. We get taxed on our money and have to have it put in a bank. Then the banks charge us to get it out. Just wrong.

The business is also charging you for a tax deductible charge, totally double dipping

 

[Annna]

As an ex banker (25years working for them) I would swear on a bible that the banks' are behind trying to make us a cashless society as soon as possible. Just stop and think how much "No cash" adds to their profits. Reduced Insurance costs, reduced staff as no need to count or handle cash, elimination of ATMs' and all the expenses associated with operating them. And the list goes on. And of course, as usual, the spin the banks' use is that we, the customers, want this, and they are trying to help us. to that I say, BULLSHIT!!! AS one person in the article commented, Cash is legal tender. Surely businesses should not be allowed to refuse cash. If they do, go elsewhere. If we don't push back against a cashless society at every chance we get, then the Banks' will have won yet again.

I worked in banks for 20 years. I too have been there for the push to do away with cash.

It started with introduction of ATMs in the late 70s. You may say 'but that is cash', I say that was the start of getting people out of branches that was accompanied with a plethora of fees charged to people who still had the guts to come in to a branch, then came phone banking followed by online options and the rest.

People have gradually taken to the non-branch options, many have done so due to fees and charges and others due to work hours clashing with bank branch opening hours.

Banks over these years have cleverly kept stats to see the decrease in numbers using branches. Over the last couple of decades, branches began disappearing and now in 2024, the banks are saying 'we are closing branches and cash is redundant because our figures show that people are not using either.

 

[Annna]

if cash is gone ...why do we need banks at all ...credit card companies will replace them, home loans come from assorted companies,auto payments are made by cc companies, no cheques any more..so what will banks do, seems to me credit cards are the go internationally payments are instant (banks take days )and cost heaps I think cc will be cheaper.. so why have banks at all...think about it!

Interesting, are they doing themselves out of existence?

 

[margaretritchie48@hotmail]

I go into the bank approx. once a month and draw money out of my mums PASSBOOK account (she is 100 so not changing accounts at this stage). They just hand the money to me as it went through a machine. I ask them to count it out to me. They do reluctlently. This last time I was told the bank says if it goes through a machine they do not have to count it in front of you. What bullshit!!

 

[Vinylted]

What happens if you have a deposit in a bank and want to withdraw it, NOT transfer it to another account, but receive it in your hand? It's your money, you are legally entitled to it and can demand it's return... can you refuse a piece of plastic that is supposedly worth that amount?

 

[tomtom]

Be very careful of motels - we booked a hotel in Werribee, Victoria, through a booking agency. Booking confirmed 4 weeks before, then we get an email from the establishment with terms and conditions. We were required to pay up front ( before booking in ) if we cancelled we lost the full amount - they took the payment from our bank and also added a credit card ( debit card ) fee. We are so over getting ripped off with fees for this and that. About time the Government pulled out the finger and did something about these rip offs.

 

[Mary_Again]

On a slightly different topic. I was a Commonwealth customer for decades. I opened my first account when I was five. I remained a customer until the 2020's but was not supported by the bank for being a loyal customer. When I was bullied out of my job in 2007, I went to them for financial advice and a staff member (financial advisor) set me up with a super fund with Colonial, and unknown to me, set things up to remove $1000 a year from the account, for financial advice. This advice amounted to someone ringing me once (or twice) a year to tell me the interest rates (on the savings accounts I had at the bank) were changing and asking if I wanted to change terms. When I realised I was being charged $1000 annually for this, I stopped the payment. I think some of you will know how badly the Colonial Super fund did. It got in the news as one of the worst performers.
After the financial overview of banks occurred, the Commonwealth Bank introduced a new policy. At the end of every Compound term, all money would be removed from the Compound interest account and placed in a "Holding" account until the bank was contacted by the owner of the compound account and a new term was set up. While money was in the holding accounts the money would not generate any interest at all. So if the account holder was busy looking after two elderly parents and running a household and couldn't take time out to visit the bank, the money would remain in this "Holding" account for months, generating no interest. As a result I earned $10 (annual) interest on a $50000 term deposit. I now "bank" with Credit Unions. As far as I know, this policy is still in effect.
Interestingly enough, I pay some of my bills at the local Commonwealth Bank, e.g Internet & Water and I pay by cash. If they stop cash transactions entirely, paying such bills will be a challenge.

 

[Bill MacL]

Credit Unions should be taking advantage of the cashless introduction the BANKS want to introduce.
Where cards and cash is acceptable and promoted I would change to them in a hurry

Credit Unions are no better.

 

[adoni]

What happens when the expos /internet goes does and cash is the only option.

 

[Lunagazer]

This is an increasingly common trend.
Some KFC franchises among others, refuses customers who want to pay with cash.
My understanding is that it is (currently) against the law to refuse legal tender.

 

[Aussiecris]

This is an increasingly common trend.
Some KFC franchises among others, refuses customers who want to pay with cash.
My understanding is that it is (currently) against the law to refuse legal tender.

It's not illegal to accept cash if there is a sign displayed

 

[Lunagazer]

On a slightly different topic. I was a Commonwealth customer for decades. I opened my first account when I was five. I remained a customer until the 2020's but was not supported by the bank for being a loyal customer. When I was bullied out of my job in 2007, I went to them for financial advice and a staff member (financial advisor) set me up with a super fund with Colonial, and unknown to me, set things up to remove $1000 a year from the account, for financial advice. This advice amounted to someone ringing me once (or twice) a year to tell me the interest rates (on the savings accounts I had at the bank) were changing and asking if I wanted to change terms. When I realised I was being charged $1000 annually for this, I stopped the payment. I think some of you will know how badly the Colonial Super fund did. It got in the news as one of the worst performers.
After the financial overview of banks occurred, the Commonwealth Bank introduced a new policy. At the end of every Compound term, all money would be removed from the Compound interest account and placed in a "Holding" account until the bank was contacted by the owner of the compound account and a new term was set up. While money was in the holding accounts the money would not generate any interest at all. So if the account holder was busy looking after two elderly parents and running a household and couldn't take time out to visit the bank, the money would remain in this "Holding" account for months, generating no interest. As a result I earned $10 (annual) interest on a $50000 term deposit. I now "bank" with Credit Unions. As far as I know, this policy is still in effect.
Interestingly enough, I pay some of my bills at the local Commonwealth Bank, e.g Internet & Water and I pay by cash. If they stop cash transactions entirely, paying such bills will be a challenge.

G’day Mary,
You may have access to some compensation for this offence. You may remember that not more than a few years ago some banks were fined for charging service fees without providing any service. Also, you were not informed of the terms. This is a lie by omission. If you are willing to follow this up & make a noise, you may get a pleasant result. Go see your Ombudsman….. what could it hurt, right?

 

[Smitheemma]

The shift to a cashless society is really shaking things up, especially for small businesses like Street Feast. I remember when I used to run my own food stall at local markets. Going cashless was a bit daunting at first, but it actually streamlined a lot of processes and made things easier in the long run. Plus, it was a huge relief not having to worry about handling cash late at night.

If you're a small business owner and thinking about making the switch, or even considering how this fits into a bigger picture like deciding to sell your business, it's definitely worth exploring all the options out there. The financial landscape is changing fast, and it can open up some surprising opportunities.

 

[Yamogono]

The shift towards a cashless society is definitely stirring up some debate! I can relate because I faced a similar situation with my small business. When we decided to go cashless for our events, it was a huge transition. At first, I was worried about how customers would react and how to handle the change smoothly.

What really helped was diving into marketing with case studies. I found some great insights and strategies from others who had navigated similar changes. It showed me how to address customer concerns and leverage the transition to highlight the benefits.

If Street Feast is dealing with similar challenges, exploring case studies could be a fantastic way to learn from others and make the shift easier. It’s been a valuable resource for me!

 

[Mary_Again]

G’day Mary,
You may have access to some compensation for this offence. You may remember that not more than a few years ago some banks were fined for charging service fees without providing any service. Also, you were not informed of the terms. This is a lie by omission. If you are willing to follow this up & make a noise, you may get a pleasant result. Go see your Ombudsman….. what could it hurt, right?

Actually, I did take up the issue regarding my Super Fund and got a "small" refund. As for the Compound Term Deposits. I'm going to investigate the Credit Unions. The Commonwealth Bank still insists on sending Term Deposits to "Holding" NO-Interest Accounts.

 

[crosshill49]

Another failure of the Government to enforce banks to provide the proper services, no one should go to six banks and find the cash machines are not working same with ATM,s. This is a ploy by big bank to force people to use cards and when the system goes down, they blame someone else. This government needs to use the post offices as a new government bank, this will force the big banks to back down, but I don't see the government having the courage to do that.