Cash Welcome marketing campaign coordinator Jason Bryce has referred to as on banks to cease closing branches and ATMs, and for the federal government to guard money entry and funds.
“Power, internet and EFTPOS systems can all fail and leave us stranded,” Bryce mentioned.
“Only cash is reliable 24 hours per day, 365 days per year.”
Australia’s monetary providers regulator, APRA, revealed in October that within the 2022-2023 monetary yr, 424 financial institution branches closed throughout Australia.
It’s a very prevalent phenomenon in regional areas – which can additionally lack dependable web connections – with 122 of these branches outdoors the cities.
Regional financial institution numbers have declined by 34 per cent since 2017.
The two-cent coin now price virtually $500
“Banks enjoy a special place at the heart of our economy. No Australian can get paid without a bank account so banks have an obligation to provide us with local cash access,” Bryce mentioned.
“Other nations protect their citizens’ right to choose cash and now the Australian government must also mandate cash acceptance, or require banks to provide us with access to our own cash.”
Cash Welcome has a web-based petition calling for the authorized proper to decide on and entry money, with greater than 130,000 signatures.
Source: www.9news.com.au
