Woman calls it quits with her bank after being denied access to her own funds: 'What's the point of a bank?'
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We often playfully joke about banks having complete control over our hard-earned cash, but the idea of them actually denying us access to our own funds? Unthinkable, right? Well, brace yourself for a real-life nightmare experienced by a woman from Brisbane.
Meet Taryn Compton, a Brisbane resident who found herself caught in the middle of a home renovation project and in need of a hefty sum of $3500.
Remember the good old days when you could stroll into a bank branch, flash your trusty ID to the friendly bank teller, and walk out with your own money, no questions asked? Ah, those were simpler times indeed, free from the technological fuss and hassle.
But alas, it seems like those simpler times are slipping away faster than we realise. Society is hurtling forward, embracing a cashless future, taking leap after leap away from the days of tangible currency.
Taryn encountered a little hiccup when she realised she had forgotten to bring her ATM card along—a common mistake in this era of overwhelming digitalisation that has almost overshadowed physical banking tools. So, she had to resort to making her withdrawal in person at the bank branch.
Back in the good old days, this wouldn't have been such a big deal. But to her surprise, when Taryn approached the teller, she was informed that their branch was completely cashless. Yes, you read that correctly—a bank branch without any cash!
'She told me they don't have cash at the bank to give people anymore,' Taryn recalled her experience on The Today Show.
Eager to assist, the teller graciously walked Taryn through the process of installing a cashless app on her phone instead, which would allow her to withdraw money from the ATM conveniently located outside the bank. However, despite their best efforts, the app, unfortunately, failed to cooperate.
As a result, Taryn found herself in quite a predicament, stranded without access to the funds she desperately needed.
Taryn mentioned that the entire situation left her pondering Australia's banking system as a whole. After all, if you can't even get hold of your own money, it raises some serious doubts, doesn't it?
'The teller told me that if I wanted to get my cash out if I needed it that day, to transfer it to another bank and try somewhere else, so that's what I did,' she expressed. 'If you can't get your own money from a branch, what's the point of a bank?'
This incident might seem like a one-off, but it's a sign that our banking system is rapidly moving towards a digital, cashless future.
Today reached out to ANZ for comments, to which a spokesperson responded, 'At ANZ, we have seen in-branch transactions fall 50 per cent over the past five years, with just one per cent of transactions now done over the counter and 96 per cent conducted digitally.'
'Some ANZ branches no longer handle cash at the counter but continue to have cash available through our on-site Smart ATMs.'
Such a situation could really shake us up, especially if we're not exactly tech-savvy or comfortable navigating the world of digital finance. It's enough to make us question the very essence of banking and its relevance in this increasingly digital era.
It's always a good idea to stay informed and be aware of your bank's policies, especially regarding their digitalisation efforts and how these changes might impact you. And remember, don't hesitate to speak up if you have any concerns.
What do you think about this story, folks? Have any of you ever encountered a similar situation where digital banking turned out to be more of a hassle than a convenience? Share your experiences with us in the comments!
Meet Taryn Compton, a Brisbane resident who found herself caught in the middle of a home renovation project and in need of a hefty sum of $3500.
Remember the good old days when you could stroll into a bank branch, flash your trusty ID to the friendly bank teller, and walk out with your own money, no questions asked? Ah, those were simpler times indeed, free from the technological fuss and hassle.
But alas, it seems like those simpler times are slipping away faster than we realise. Society is hurtling forward, embracing a cashless future, taking leap after leap away from the days of tangible currency.
The customer couldn't understand why she could not access her own money. Credit: Shutterstock.
Taryn encountered a little hiccup when she realised she had forgotten to bring her ATM card along—a common mistake in this era of overwhelming digitalisation that has almost overshadowed physical banking tools. So, she had to resort to making her withdrawal in person at the bank branch.
Back in the good old days, this wouldn't have been such a big deal. But to her surprise, when Taryn approached the teller, she was informed that their branch was completely cashless. Yes, you read that correctly—a bank branch without any cash!
'She told me they don't have cash at the bank to give people anymore,' Taryn recalled her experience on The Today Show.
Eager to assist, the teller graciously walked Taryn through the process of installing a cashless app on her phone instead, which would allow her to withdraw money from the ATM conveniently located outside the bank. However, despite their best efforts, the app, unfortunately, failed to cooperate.
As a result, Taryn found herself in quite a predicament, stranded without access to the funds she desperately needed.
Taryn mentioned that the entire situation left her pondering Australia's banking system as a whole. After all, if you can't even get hold of your own money, it raises some serious doubts, doesn't it?
'The teller told me that if I wanted to get my cash out if I needed it that day, to transfer it to another bank and try somewhere else, so that's what I did,' she expressed. 'If you can't get your own money from a branch, what's the point of a bank?'
This incident might seem like a one-off, but it's a sign that our banking system is rapidly moving towards a digital, cashless future.
Today reached out to ANZ for comments, to which a spokesperson responded, 'At ANZ, we have seen in-branch transactions fall 50 per cent over the past five years, with just one per cent of transactions now done over the counter and 96 per cent conducted digitally.'
'Some ANZ branches no longer handle cash at the counter but continue to have cash available through our on-site Smart ATMs.'
Such a situation could really shake us up, especially if we're not exactly tech-savvy or comfortable navigating the world of digital finance. It's enough to make us question the very essence of banking and its relevance in this increasingly digital era.
It's always a good idea to stay informed and be aware of your bank's policies, especially regarding their digitalisation efforts and how these changes might impact you. And remember, don't hesitate to speak up if you have any concerns.
What do you think about this story, folks? Have any of you ever encountered a similar situation where digital banking turned out to be more of a hassle than a convenience? Share your experiences with us in the comments!
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are there for one thing and one thing only to make profit 
it's that simple cash doesn't devalue where a transaction has fee's so every time you do a transaction it cost you and the receiver and the cycle goes on where cash doesn't 
change no matter how many hands it goes through food for thought, here cash is best because you control it NOT the bank's controlling you 
