Fuseworks Media

Banks must fix the cash crisis they created – Cash Welcome

Banks are reportedly only offering Armaguard a short-term solution to the cash crisis they created.

The decline in the numbers of bank-owned ATMs and bank branches far outstrips the decline in cash usage.

“The big banks are failing to find a viable long term solution to the cash crisis they created,” said Jason Bryce, spokesperson for the Cash Welcome campaign.

“The data proves the big banks are herding Australians towards a cashless society against our will.

“Why haven’t the big banks planned ahead and come up with a plan for distributing cash?

“Why have the big banks allowed this situation to develop?” asked Jason Bryce.

The total number of ATM cash withdrawals rose by almost half a million transactions in January 2024 to 30.2 million from 29.76 million in December.

The number of bank-owned ATMs has fallen more than 40 per cent since June 2020.

Commonwealth Bank is redirecting branch customers to computer terminals says the Finance Sector Union: ‘The CBA claims branches are shutting because of a reduction in over the counter transactions but the reality is they are forcing staff to move customers to digital banking by directing them to a computer terminal in the branch.’

ANZ Bank’s secret cashless agenda was exposed by a whistle blower in November.

Bankwest said customers prefer digital when they announced the closure of ALL BRANCHES.

Westpac repeated the gaslighting whilst announcing the closure of branches in NSW and Victoria.

NAB also pointed at customers as the reason for branch closures.

“Banks profit from fees and data produced by card and phone purchases so they are making it harder for us to use cash,” said Jason Bryce.

“Australians are withdrawing about the same amount of cash from fewer ATMs and fewer bank branches.

“Banks created this crisis themselves and now banks need to pay to fix it.

“Banks have made millions of dollars over the last few years by limiting our access to cash,” said Jason Bryce.

“Banks need to pay to ensure we can access our cash when we want it.”

An online petition calling for government action to protect access and acceptance of cash has now collected more than 167,000 signatures.

https://www.change.org/BankingAndCashGuarantee

 

Powered by Fuseworks and Truescope - Media monitoring, insights and news distribution for New Zealand organisations.