Only Strong Legislation Can Safeguard Cash Access AND Acceptance. - Image 1

Only Strong Legislation Can Safeguard Cash Access AND Acceptance.

Posted on: 24/06/2024

It is absolutely true that cash doesn’t crash - but that won’t retain cash as a payment choice for the public without legislative action.

Banks in Australia have been pushing the country towards “cashless” for at least the last 15 years.

They have no intention of stopping.

One academic quoted in this article states, whilst seemingly predicting that Australia will be “cashless” by 2030, that “It doesn’t mean that there’s no bank notes at all. No one should be panicking that your banknotes will no longer carry value,” she told

This is, quite frankly, gibberish.

If the Australian public can’t get cash conveniently because the banks have been allowed to go on reducing access and, when, even when cash can be found, the public are faced with a situation where many businesses won’t accept their cash as payment for goods or services, what REAL value would cash have to the vast majority of the Australian population?

Little or none.

Which is why the Australian government needs to step in NOW, as the Swedish government has done, to compel banks to provide access to cash withdrawal and deposit facilities at their branches. This legislation must include maintaining banking branch networks, with truly national coverage.

The Australian government must also immediately introduce legislation to compel cash acceptance by retailers and other businesses which accept face-to-face payments.

Many Australians WANT to go on using cash - they WANT to enjoy Payment Choice - BUT “cashless” is being imposed on them.

10,000 miles away in the UK, we face a very similar situation - and the solutions required are IDENTICAL.

Source: startsat60.com/media/news/cash-cant-crash-why-a-cashless-future-appears-unlikely




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