Australian Banks Stop Using Cash! Checks to Be Terminated by 2030

Australia: Banks are deserting towns and suburbs and leaving Australians without ready access to their cash and banking services as it moves toward a cashless society.

by JW Williams

Recently a few Australian banks have stopped making cash available to customers. More banks are likely to follow suit, clearing the pathway toward a fully cashless society. Jimmy Dore explains the risk of putting your faith in banks. In early 2022, Canadian truckers protested against COVID vaccines in Canada’s capitol and Prime Minister Trudeau directed banks to freeze their bank accounts. Without access to your money, you cannot pay for essential items such as electricity, fuel, food and shelter. China uses technology to coerce its citizens.

Governments and banks can use people’s access to their money for control over them. Australia plans payment reforms that include a digital ID that can be tracked. Australia also plans a central bank digital currency (CBDC).

According to the DailyMail, a petition to stop Australia from becoming a cashless society has gained more than 120,000 signatures as banks increasingly restrict customers’ access to their money. The Change.org petition is calling for an ‘An Australian cash and banking guarantee’ that would see the government step in to regulate banks who are streamlining their operations by closing branches or removing in-person cash services. The banks say this is to prevent scams but the cryptocurrency community has argued they are protecting their own bottom lines from competitors looking to ‘muscle in’ on their turf.

‘Banks are deserting towns and suburbs and leaving Australians without ready access to cash and banking services.’ A cashless society excludes some groups such as the elderly from the economy, chips away at the value of cash by imposing fees on customers and businesses, is vulnerable to computer hacks and glitches, and makes it harder for people to budget.

‘Banks are deserting towns and suburbs and leaving Australians without ready access to cash and banking services.’

The UK, US and New Zealand governments have moved to guarantee cash access while Sweden, considered the frontrunner in the race to cashless, spectacularly flipped in 2021 by amending its Act on Payment Services to ensure ‘reasonable access to cash’ is provided throughout the country.

The Guardian wrote that Australia’s treasurer, Jim Chalmers, has signed the check’s death warrant to end its use in Australia by 2030, as part of a range of payment reforms for the digital era. Other reforms include a digital ID and a central bank digital currency (CBDC).

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