Macquarie Bank Puts Cash in the Scrap Heap By James Reed
The relentless movement in Australia to repeat the Nigeria disaster of going cashless, proceeds. The latest bank to say that they will be scrapping cash in all branches is the Macquarie Bank. It will be completely cashless by November 2024. “Between January 2024 and November 2024, we’ll be phasing out our cash and cheque services across all Macquarie banking and wealth management products, including pension and super accounts.” There is some outcry that this move will impact upon people in regional areas and the elderly, but how much influence do they have/ Before we know it, cashlessness will be in, with Central Bank Digital Currency (CBDC), and the potential to control all financial transactions of people, and debank them when necessary for social control purposes, instantly, as we have seen in the US case of Dr Mercola and associates and family.
Opposition against this must get strong now, so let’s make this the next big fight after we defeat the Voice referendum.
“A major bank has made the shock decision to scrap cash in all of its branches across Australia, in what could be another step towards a cashless society.
Macquarie Bank has announced it will phase cash out across their branches in 2024, and by November of the same year, the bank won’t accept cash anywhere.
The move is being slammed as one which will have a particularly negative impact in regional areas, and for elderly Australians.
“Between January 2024 and November 2024, we’ll be phasing out our cash and cheque services across all Macquarie banking and wealth management products, including pension and super accounts,” the bank said in a statement to clients.
As well as scrapping over-the-counter cash transactions, Macquarie will also stop accepting payments via telephone banking from May next year.
The move means customers wishing to withdraw or deposit cash will only be able to do so via an ATM.
News of the decision was met with dismay by some businesses, who said it was “inevitable” other banks would go down the same path as Macquarie.
“People in regional areas constantly have challenges around internet access so using cash is often an easier option, making the local bank branch and cash services important to those in country towns,” General Manager of Junee Licorice and Chocolate Factory, Rhiannon Druce, said.”
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