Payments

Australians protest cashless with 'Draw out some cash day'

Photo: Adobe Stock

April 2, 2024

Australian activists organized a protest on April 2, 2024, to withdraw cash from ATMs called "Draw out some cash day." This is part of an effort to protest Australia's trend towards shifting to digital cashless payments, according to a report by 9 News.

A social media post urged individuals to withdraw a minimum a $20 and force banks to refill ATMs with cash.

"We want this to go nationwide. Tell your friends. Never let cash vanish," the post stated. It has been circulating Twitter, Instagram and Facebook with the hashtag "CashIsKing."

This comes on the heels of news that Armaguard, a cash transportation company in Australia could possibly see some disruption in services that could impact liquor stores in the country. Armaguard itself has also said that "the challenge of rapidly declining cash" has challenged their businesses viability.

Anna Bligh, chief executive of the Australian Banking Association said at the Australian Financial Review Banking Summit that the four largest banks in Australia are working on a solution for payments alongside retailers.

"Banks and the retail partners on this have really leaned in to try and find something that can work, so that it would effectively buy some time for us and the cash and transit operator to think about what [the future will] look like," she said.

She also emphasized that, "There is still going to be a need for cash."