The total value of cash circulating in the Australian economy has hit record highs of almost $103 billion, RBA data has revealed.
November saw a total of 29,789,400 cash withdrawals compared to 28,807,600 withdrawals the previous month.“There is no trend towards a cashless society and despite the growing number of ways to make cashless transactions, the use of cash is actually increasing,” he said. Mr Bryce also pointed out there was a clear pushback against high card surcharges, a lack of privacy and reliability as well as a struggle to budget efficiently by making purchases through a phone.
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People are using more cash to avert the excuse for cashless society and also because there are situations where the banks and lines crash and we many times had those “Cash only” signs for customers. They need to stop discrimination against cash users in Supermarkets.
Unless you're receiving any payment via Centrelink - including the aged pension - and the LNP get back in. Then you'll be forced onto the Indue Cashless 'Welfare' Card, where the government controls 80% of where, and on what, you can spend your money.
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