Organizers claim that 2 million Australians are expected to withdraw funds from ATMs today to prevent the country from becoming a cashless society.
The plan, known as “Cash Outside Day”, is led by Jason Bryce, who advocates for group cash, and requires hard cash to remain a viable payment method.
On the first cash day held last year, Mr. Bryce claimed to have sent a strong message to the bank, which has led many to work to keep branches open.
Following the protests, the government’s commitment to the cash mission will take effect in January 2026.
When a business sells basic commodities such as groceries and fuel, it will be required to accept cash.
People’s power works. We stood up and showed how popular cash was – politicians and banks responded.
“Cash authorization will allow 97% of retailers to have no cash.”
He suggested extending cash authorization to all retailers, not just retailers selling “essential” goods and services.
Welcome Cash is expected to have 2 million Australians participating in today’s cash foreign day
Mr Bryce expects 2 million Australians to visit ATM on Tuesday to withdraw funds.
On the last cash day, cash welcome estimated that about 1.6 million people withdrew cash, totaling about $500 million.
Over the past decade, cash use in Australia has declined steadily, a trend that accelerated sharply after the 19009 pandemic.
According to the Reserve Bank, the number of face-to-face cash transactions has been cut in half between 2019 and 2022.
In 2019, cash accounted for about 32% of transactions, but by 2022, that figure has dropped to just 16%.
Currently, cash accounts for about 10% of all transactions, with forecasts indicating that it may drop to only 7% by 2030.
At the same time, debit and credit card payments are still strong, and the use of debit cards has increased during the same period.
Reserve Bank Governor Michele Bullock has previously commented on the future of Australian cash.
Between 2017 and 2023, 37% of all Australian bank branches were closed.
She expects cash may continue to be used “about another decade” in February and urges policy makers to “develop a sustainable system to allocate cash as usage continues to decline”.
Bank branches and ATMs also fell sharply, with 37% of all bank branches closed between 2017 and 2023, with ATMs accounting for 59% during the same period.
Mr. Bryce started change.org The petition calls on the government to introduce Australian cash and bank assurances, which received more than 200,000 signatures.
Petition Requires ‘All Australians [to] Cash and full banking services are reasonably available locally and insisted: “All Australians must choose cash when physical retailers pay for food and essentials.”
“Millions of Australian consumers and businesses trust and rely on cash to meet their daily needs and budgetary purposes.”
It added: “Even Australians who don’t attend banks or use cash regularly sometimes need to get in-person banking services and physical funds.”
The Australian Banking Association said cash will continue to be available and available to those who wish to use it. ”
“Although Australians use less and less cash, we won’t be cashless,” an ABA spokesman told the Daily Mail Australia.
Cash use in Australia plummeted since the 2020 Covid-19 pandemic
Daily Mail Australia welcomes comments to cash.
