Australia’s big four banks make controversial move away from cash
The big four banks have rolled out a controversial change to the way Australians can access their hard-earned cash.   :(


Nres.com.au
October 18, 2024

Australia’s access to cash is under threat as the number of ATM and bank branches has been cut in half in just seven years.

Thousands of ATMs and local bank branches are being removed across the country even as the number of Aussies using cash rises sharply.

The number of bank-owned branches and bank-owned ATMs has drastically fallen, with Westpac and the Commonwealth Bank leading the move away from cash. 

The big four Australian banks have removed 217 ATMs in the past 12 months and a staggering 8,338 bank-owned ATMs in the past seven years.

Bank branches are also becoming a thing of the past, with Aussies losing access to 230 banks in the last financial year and a total of 2,334 in the past seven years.

The number of ATMs in Australia has halved in just the last seven years.
Combined, the number of bank-owned branches and bank-owned ATMs has halved in seven years from 19,508 to 8,836 as at 30 June 2024, meaning Australia’s banks have dismantled half of their cash distribution network.

While Aussies’ ability to access cash is falling, figures from the Reserve Bank of Australia (RBA) show the number of withdrawals from ATMs in Australia jumped 2.7 per cent from roughly 28.7m in July to 29.4m in August.

Cash campaigners are now calling on banks to “respond to consumer demand” by increasing access to physical funds.

Cash Welcome founder Jason Bryce said there have been around one million ATM withdrawals made in Australia every day over the past two years.


“Banks have closed half of their bank-owned ATMs and branches in seven years, restricting our access to cash,” he said.

“Australians continue to want cash so banks have no excuse for continuing to close branches and ATMs.”

Mr Bryce said the loss of bank-owned ATMs meant increasing numbers of withdrawals attracted a fee, but Aussies were willing to pay to access cash.

A report from financial research agency Canstar found Westpac had closed the most branches out of the big four banks in the last year — a total of 66 closures, representing an 11 per cent decrease in the bank’s branch numbers.

“This is a continuation of Westpac’s strategy to merge the group’s branches together, allowing Westpac, St George, Bank of Melbourne and BankSA customers to access the same facilities,” a Canstar spokesperson said.

Aussies are finding it harder to access ATMs.

In the last year, NAB also scrapped 11 per cent of its branches — removing 53 in total — while the Commonwealth Bank got rid of 32 branches and ANZ ditched 39. 

A new Canstar report shows bank branch closures outside the major cities slowed down compared to the 2023 financial year, but 230 branches were still shuttered in the 2024 financial year.

The report found that while regional bank branch closures had slowed, 52 of 230 branches closed last year were regional. In the previous year, 112 regional branches were shuttered.

“A branch or ATM closure in a shopping centre where there are alternatives nearby is very different to a branch closure in outback Australia that forces people into the car, in some cases for hours, to get to and from their new nearest branch,” Canstar data director Sally Tindall said.

Commonwealth Bank, Westpac and ANZ have pledged not to close any regional branches through to the end of 2026.

The good people of Australia want their bank branches.  Far to many have closed.  Stop closing them down.   :(

whiteknight wrote on Oct 18^th, 2024 at 4:50pm:

The good people of Australia want their bank branches.  Far to many have closed.  Stop closing them down.   :(

Most of the good people of Australia don't give a sh!t about bank branches or cash.

Well over 90% of all transactions are electronic.

MeisterEckhart wrote on Oct 18^th, 2024 at 5:05pm:

Most of the good people of Australia don't give a sh!t about bank branches or cash.

Id say bullshit to that. People do care, they're just lazy

If we go cashless, there is absolutely nothing to stop banks charging you $20 per transaction ... and banks have already proven that they don't give a sh1t, and will do it.

John Smith wrote on Oct 19^th, 2024 at 9:01am:

MeisterEckhart wrote on Oct 18th, 2024 at 5:05pm: Most of the good people of Australia don't give a sh!t about bank branches or cash. Id say bullshit to that. People do care, they're just lazy If we go cashless, there is absolutely nothing to stop banks charging you $20 per transaction ... and banks have already proven that they don't give a sh1t, and will do it.

If 'people are lazy', it's a sign they don't care.

Do you remember when banks charged exorbitant 'overdraft fees' and then were forced to pay it all back?

And now, this: Big banks to refund millions in fees to low-income customers following ASIC report

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-153mr-big-banks-to-refund-millions-in-fees-to-low-income-customers-following-asic-report/

MeisterEckhart wrote on Oct 19^th, 2024 at 9:11am:

If 'people are lazy', it's a sign they don't care.

did you make that up?
:D :D :D

MeisterEckhart wrote on Oct 19^th, 2024 at 9:11am:

Do you remember when banks charged exorbitant 'overdraft fees' and then were forced to pay it all back?

I remember when banks said to use atms because it was free, I also remember when they said to pay electronically because it is free ... now none of those things are free. Finding two examples in twenty years of banks ripping people off is not the home run you think it is. Atsic does governments bidding and govts do their donors bidding. Banks are major donors.

John Smith wrote on Oct 19^th, 2024 at 9:21am:

MeisterEckhart wrote on Oct 19th, 2024 at 9:11am: If 'people are lazy', it's a sign they don't care. did you make that up? :D :D :D

As opposed to laziness not being a sign of disinterest, as you suggested in your previous post - 'People do care, they're just lazy'.

If you can't be cunted, it follows you don't give a f~ck.

MeisterEckhart wrote on Oct 19^th, 2024 at 9:25am:

John Smith wrote on Oct 19th, 2024 at 9:21am: MeisterEckhart wrote on Oct 19th, 2024 at 9:11am: If 'people are lazy', it's a sign they don't care. did you make that up? :D :D :D As opposed to laziness not being a sign of disinterest, as you suggested in your previous post - 'People do care, they're just lazy'. If you can't be cunted, it follows you don't give a f~ck.

So that was a yes, you did make it up. Cheers

John Smith wrote on Oct 19^th, 2024 at 9:23am:

MeisterEckhart wrote on Oct 19th, 2024 at 9:11am: Do you remember when banks charged exorbitant 'overdraft fees' and then were forced to pay it all back? I remember when banks said to use atms because it was free, I also remember when they said to pay electronically because it is free ... now none of those things are free. Finding two examples in twenty years of banks ripping people off is not the home run you think it is. Atsic does governments bidding and govts do their donors bidding. Banks are major donors.

Given that over 90% of transactions are electronic, it's a good indication that Australians are done with cash... fees or not.

John Smith wrote on Oct 19^th, 2024 at 9:27am:

MeisterEckhart wrote on Oct 19th, 2024 at 9:25am: John Smith wrote on Oct 19th, 2024 at 9:21am: MeisterEckhart wrote on Oct 19th, 2024 at 9:11am: If 'people are lazy', it's a sign they don't care. did you make that up? :D :D :D As opposed to laziness not being a sign of disinterest, as you suggested in your previous post - 'People do care, they're just lazy'. If you can't be cunted, it follows you don't give a f~ck. So that was a yes, you did make it up. Cheers

No worries!

In your world, is not giving a f~ck a sign that you care?

MeisterEckhart wrote on Oct 19^th, 2024 at 9:28am:

John Smith wrote on Oct 19th, 2024 at 9:23am: MeisterEckhart wrote on Oct 19th, 2024 at 9:11am: Do you remember when banks charged exorbitant 'overdraft fees' and then were forced to pay it all back? I remember when banks said to use atms because it was free, I also remember when they said to pay electronically because it is free ... now none of those things are free. Finding two examples in twenty years of banks ripping people off is not the home run you think it is. Atsic does governments bidding and govts do their donors bidding. Banks are major donors. Given that over 90% of transactions are electronic, it's a good indication that Australians are done with cash... fees or not.

My experience suggests otherwise.

whiteknight wrote on Oct 18^th, 2024 at 4:50pm:

The good people of Australia want their bank branches.  Far to many have closed.  Stop closing them down.   :(

we want the doctor that does the bulk billing


we want the checkouts that have the checkout chicks

we want

we want

we need it

we are so needy

we dont think we ever have to contribute

we contribute by being consumers

me,me,me

the world owes ME

be the way i demand you to be WORLD

if things arent the way i like them i think i'll complain

i think i"ll make a little identity out of how the world is victimising me


such is the thought process of the inferior man (about 90% of the population by my estimation)   :'(

John Smith wrote on Oct 19^th, 2024 at 9:29am:

MeisterEckhart wrote on Oct 19th, 2024 at 9:28am: John Smith wrote on Oct 19th, 2024 at 9:23am: MeisterEckhart wrote on Oct 19th, 2024 at 9:11am: Do you remember when banks charged exorbitant 'overdraft fees' and then were forced to pay it all back? I remember when banks said to use atms because it was free, I also remember when they said to pay electronically because it is free ... now none of those things are free. Finding two examples in twenty years of banks ripping people off is not the home run you think it is. Atsic does governments bidding and govts do their donors bidding. Banks are major donors. Given that over 90% of transactions are electronic, it's a good indication that Australians are done with cash... fees or not. My experience suggests otherwise.

Do you do a lot of cashies?

aquascoot wrote on Oct 19^th, 2024 at 9:30am:

whiteknight wrote on Oct 18th, 2024 at 4:50pm: The good people of Australia want their bank branches.  Far to many have closed.  Stop closing them down.   :( we want the doctor that does the bulk billing we want the checkouts that have the checkout chicks we want we want we need it we are so needy we dont think we ever have to contribute we contribute by being consumers me,me,me the world owes ME be the way i demand you to be WORLD if things arent the way i like them i think i'll complain i think i"ll make a little identity out of how the world is victimising me such is the thought process of the inferior man (about 90% of the population by my estimation)   :'(

We want you to stop posting stupid word salads.

But, as The Rolling Stones sang... "You Can't Always Get What You Want".

:)

Carl D wrote on Oct 19^th, 2024 at 9:38am:

But, as The Rolling Stones sang... "You Can't Always Get What You Want".

So long as the trade-off is, y'know... getting what you need.

A good way to have it both ways... Want only what you need!

Carl D wrote on Oct 19^th, 2024 at 9:38am:

aquascoot wrote on Oct 19th, 2024 at 9:30am: whiteknight wrote on Oct 18th, 2024 at 4:50pm: The good people of Australia want their bank branches.  Far to many have closed.  Stop closing them down.   :( we want the doctor that does the bulk billing we want the checkouts that have the checkout chicks we want we want we need it we are so needy we dont think we ever have to contribute we contribute by being consumers me,me,me the world owes ME be the way i demand you to be WORLD if things arent the way i like them i think i'll complain i think i"ll make a little identity out of how the world is victimising me such is the thought process of the inferior man (about 90% of the population by my estimation)   :'( We want you to stop posting stupid word salads. But, as The Rolling Stones sang... "You Can't Always Get What You Want". :)

carl,

you posted

"healthy people have just as much to fear from covid as unhealthy people"

until you apologise for that lie

you have zero credibility

now go let your aunty out of the car and eat my word salad.

good nutrition is important for you on your journey to 'personal responsibility"

aquascoot wrote on Oct 19^th, 2024 at 9:55am:

"healthy people have just as much to fear from covid as unhealthy people" until you apologise for that lie you have zero credibility

Who said it's a lie? Apart from you, that is.


Quote:

now go let your aunty out of the car and eat my word salad.

You really do have a bee in your bonnet about that, don't you?

Actually, she's sitting right next to me... I've just shown her your post and she's giving you the finger.  ;D

Meanwhile... yes, stop closing down ATM's and Bank Branches.

Oh, and make sure the few ATM's that remain are not "out of order" and have enough money in them (I had this problem at Belmont Forum last week... not enough cash for my withdrawal one day then it was out of order the next day - probably because it had completely run out of cash).  ::)

Carl D wrote on Oct 19^th, 2024 at 11:45am:

Oh, and make sure the few ATM's that remain are not "out of order" and have enough money in them (I had this problem at Belmont Forum last week... not enough cash for my withdrawal one day then it was out of order the next day - probably because it had completely run out of cash).  ::)

Would you like some free pork chops with every withdrawal as well?

MeisterEckhart wrote on Oct 19^th, 2024 at 12:05pm:

Would you like some free pork chops with every withdrawal as well?

No, but there's a Miss Maud right next to the "sometimes working/sometimes has enough cash" ATM I use at Belmont Forum.

A nice Danish Pastry with every withdrawal would be good, I'd go for that.  :)

Carl D wrote on Oct 19^th, 2024 at 12:20pm:

MeisterEckhart wrote on Oct 19th, 2024 at 12:05pm: Would you like some free pork chops with every withdrawal as well? No, but there's a Miss Maud right next to the "sometimes working/sometimes has enough cash" ATM I use at Belmont Forum. A nice Danish Pastry with every withdrawal would be good, I'd go for that.  :)

Maybe you could start up a cash conveyancing company... Y'know... to make up for the services that are declining due to cash conveyancing companies going out of business or cutting back services due to less demand for cash.

Carl D wrote on Oct 19^th, 2024 at 12:20pm:

MeisterEckhart wrote on Oct 19th, 2024 at 12:05pm: Would you like some free pork chops with every withdrawal as well? No, but there's a Miss Maud right next to the "sometimes working/sometimes has enough cash" ATM I use at Belmont Forum. A nice Danish Pastry with every withdrawal would be good, I'd go for that.  :)

danish pastry?

that would result in diabetes and obesity and a MUCH HIGHER RISK of covid affecting you.

are you ever going to take some "personal responsibility' for your health

If I recall correctly aren’t all Australian accounts guaranteed by the federal government?

I use a Dutch bank and as such my money isn’t protected.
I also pay zero fees and am free to use any atm free of charge.

T