ANZ, one of Australia’s ‘Big 4’ banks, has decided to stop allowing cash withdrawals and deposits from certain branches, sparking concern about the impact on society of the end of cash.
In response to questions from Cointelegraph, an ANZ spokesperson said that the affected branches are all metropolitan branches that have ATMs and deposit machines nearby and that the move was partially prompted by in-branch transactions decreasing by more than 50% over the past four years.
“Furthermore, a substantial share of merchants indicated plans to discourage cash payments at some point in the future.” “NAB still handles cash at our branches and we have no plans to change. Cash will continue to play an important part in Australian society for as long as our customers want it to.”
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