The bank did not give the money to the client
“Say goodbye to your money, at the end of April.” warned one Facebook user from Lithuania. – In Australia, some banks have started refusing customers’ requests for cash withdrawals. It turns out they just don’t hold paper money anymore.”
He added a minute-long video report to back up his words. It tells the story of a Brisbane resident who wanted to withdraw money from an ATM. Realizing that she had forgotten her card, she went to the bank and asked to withdraw some funds. There he heard that the bank simply does not have them.
Screenshot from Facebook/It’s not true that you have to say goodbye to your money, some banks only refuse cash
“I thought they were crazy. That the employee didn’t hear what I wanted,” a woman who had a hard time understanding that there was no cash in the bank told the TV host.
Another presenter admitted that he was a little confused by such a situation: “So what is kept in the bank, if not money?” What do you find when you open the safe?”
The bank client recalled hearing an apology that she would not get help because they simply did not have any more cash. This was not a temporary situation where the notes just ran out one day and would reappear the next.
Changes are also due to the pandemic
Searching for information on the Internet confirms that such a situation could indeed have happened.
Available on YouTube the videoposted by Sky News Australia last July, featuring the same woman and telling the same story.
VIDEO: In Australia, banks are abandoning cash
In another in the recordwhich 9 News posted on the platform last March, told the story of ANZ Bank’s (as seen in a post shared on Facebook) plans to abandon cash and customer dissatisfaction with the decision.
VIDEO: In Australia, banks are abandoning cash
Him ANZ (Bank of Australia and New Zealand) implemented last year. Employees of the bank branch began to stop accepting coins and no longer issuing $5 bills from customers who wanted to top up their accounts.
In addition, some branches have been established limithow many banknotes a customer can deposit into his account per day.
Cash from the end of May refuses and Bank of Australia macquarie. He is about such intentions announced last September, perhaps the first of the country’s major banks.
Also read: No longer like bank cards: they misrepresent that paying in cash is free
Although Macquarie faced with great resistance, its representatives claimed that this decision was dictated by customer behavior: 97 percent. transactions are done digitally and only less than 2 percent they regularly visit bank branches.
Shutterstock photo/Payment
According to the Reserve Bank of Australia, Australians use vis for everyday payments less cash and increasingly pay for purchases electronically.
in 2007 70% was done in cash. personal transactions. in 2019 – only 27 percent, and in 2022 they further decreased by more than half – to 13 percent. This one trendwhich experts believe has been accelerated by the COVID-19 pandemic.
In addition, since 2008 the use of ATMs is also becoming rarer – the number and amount of withdrawals decreased by about 60 and 40 percent, respectively. True, recently funds purification some activated.
Australian Banking Associations data, almost 99 percent all customer interactions with banks are now digital. 2017-2022 more than 1.6 thousand were closed in the country. banking department.
During the pandemic, more businesses have moved away from cash altogether.
Terrifying control over digital money
It is true that many residents are not satisfied with these changes. One survey showed, that even 71 percent Australians they are a concern. 42 percent (even comparatively Young peopleincluding representatives of the so-called Generation Z), claim to feel simple nostalgia for cash.
But bank representatives and experts predict that the future will be cashless. Sweden, back in 1661 the first in Europe started using banknoteslast year became the first country in the world to refused.
By her example intend to follow Finland and the United Kingdom. Poland, on the contrary, has similar plans put it in a drawermotivating the freedom of choice.
Also read: Does paying by card really “eat up” almost all the money, and all the cash remains?
Non-cash payment has both advantages and disadvantages. It stands for convenience, transparency and stability. But it exists together anxiety security, privacy and financial exclusion, for example, not everyone has the skills or tools to do so.
Shutterstock photo/ATM
Despite the fact that people still actively pays in cashthey’ve been around for a long time are no longer regarded as settlement kings.
This debate is not just about ease of payment or security. It has become popular in recent years conspiracy theoryare societies will be translated switch to payments with digital money – cards, apps, etc. – not for convenience and transparency, but to control them.
Because it’s easier to know how much money someone has, what they do with it, what they buy when. The psychological aspect is also important here – if the money is only in accounts or in various digital wallets, and not in the pocket, some people are worried about losing it, for example, whether it will be confiscated by the bank or the state. After all, it is more difficult to understand how many of them a person has.
Therefore, by spreading similar conspiracy theories, it is easy to manipulate those who are less financially literate, are not friends with various technologies or really have less funds at their disposal.
15 minutes verdict: true. Some Australian banks or their branches actually refuse cash – notes are not issued to customers, and paper or metal money cannot be deposited into your account. Among other things, these changes are motivated by people’s behavior – more and more payments are made in non-real money.
The publication was prepared in 15 minutes in partnership with Metait aims to stop the spread of misleading news on the social network. More about the program and its rules – here.
