'Nobody's voted for a cashless society': Thousands to withdraw cash in protest
Aussies around the country will today withdraw cash as part of protest "Cash Out Day", designed to highlight the importance of cash to the lives of millions in Australia.
While cash use has declined in recent years, data released this month by the Reserve Bank of Australia (RBA) showed the number of cash payments had risen to 15 per cent, and that half of all Aussies use cash at least once a week.
The RBA highlighted that older Australians and those in regional areas were more likely to be reliant on cash, and Aussies are being urged to show they still value cash in hand by withdrawing some cash today.
READ MORE: Search continues for man wanted over suspected abduction of young girl in NT
Jasdon Bryce insisted cash was hugely important to Australia's economy. Nine
Jason Bryce, a financial journalist and supporter of Cash Out Day, claimed it was important for Aussies to show cash is still king.
"Aussies have become increasingly concerned that banks are trying to herd us towards a cashless society," he said.
"Yes we like tag and go, yes we like to use our phone and our cards, but nobody's voted for a cashless society, no one's voted for the government or banks to take our cash away."
LIVE UPDATES: Trump says Kimmel should be fired over shooting joke
Older Australians and those in regional communities are more likely to be reliant on cash. Dominic Lorrimer
Regional communities have been hit by several banks closing branches, further hampering people's access to cash.
And while the federal government introduced a cash mandate this year, requiring businesses to accept cash as payment for essential goods, they have also moved to remove surcharges for card payments.
Bryce claimed the mandate was "way too weak" and said the removal of surcharges will help move people away from cash.
EXCLUSIVE: Zoe was fined $300 after forgetting her car. This is the hidden cost of ADHD
Aussies are being urged to take part in Cash Out Day this year. Getty Images/iStockphoto
He said all Aussies should be worried by this news.
"The banks continue to close ATMs and continue to close bank branches, and that's got to stop," he said.
"All of these are bad for the future of cash in our economy. Cash is so important for so many people."
NEVER MISS A STORY: Get your breaking news and exclusive stories first by following us across all platforms.
Download the 9NEWS App here via Apple and Google Play
Make 9News your preferred source on Google by ticking this box here
- Sign up to our breaking newsletter here
Share a tip-off, video or photo with us
