If this banking move happens, we’ll pretty soon forget what real money feels like 2



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The number of bank counters has decreased significantly and even if you do turn up at the bank, you most likely end up interacting with an iPad or some sort of machine.

Some people feel that there’s no real reason to go the bank anymore these days except to get that bank cheque or to exchange a heap of coins into notes.

But what about ATMs? Turns out, we don’t really use the ATM machines that much anymore.

According to recent data from Commsec, ATM use has reached near record lows where ATM withdrawals had fallen by 6.4 per cent in March, compared to a year ago.

Commsec’s Craig James said to ABC News, “For the past four years the number of ATM transactions has been falling in annual terms.”

He also said that the record falls over the years signals a trend in Australia.

With people shopping with PayPass and Paywave, consumers are carrying less cash, leading economists to speculate on a possible future filled with cashless payment systems.

That means everyone will have to rely on cards or electronic banking.

Many people think that the move will be unfair to those who don’t use electronic banking and that it is not fair to assume that everybody has smartphones and tablets, and internet connection.

If the ATM removals do happen, we could end up asking ourselves – when was the last time you held real cash in your hands?


Do you like real cash or prefer credit cards or prefer debit cards? Do you think everyone should get on electronic banking?


Starts at 60 Writers

The Starts at 60 writers team seek out interesting topics and write them especially for you.

  1. I shudder to think about a cashless society.
    Once world govts realise they’re bankrupt from reckless spending they will want to steal money from savers.
    Once cash goes, this would be very easy with say negative interest rates, and pilfering cashless accounts.
    Since Japan introduced negative interest rates, the sales of home safes skyrocketed as people withdrew their money from bank accounts.
    Cash is a means of escaping a bankrupt govt’s clutches.
    Once cash is gone only gold will be a safe haven from corrupt govts!

  2. Could one big reason for the reduction in ATM transactions being performed have anything to do with the bank charges involved? It’s really wonderful isn’t it?. For most banks you get charged transaction fees on the number of times you access your account. I remember one bank teller telling me that if I accessed money over the counter they would charge me – say 80cents but if I used the ATM it would only cost 38 cents. Whichever way you go – you lose & for Pete’s sake, ‘it’s my money Ralph!!”

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