FROM NATIONAL SENIORS AUSTRALIA
Since its inception last year, the National Seniors Australia (NSA) Keep Cash campaign continues to gain support from thousands of Australians who want to keep cash as a viable payment option alongside cards and digital transactions.
Campaign supporters have proudly worn “Keep Cash” t-shirts and displayed “Keep Cash” stickers in a public show of support. Retailers have also come on board, displaying “We Accept Cash” stickers in windows or at point of sale.
“While NSA acknowledges the inevitability of a mostly digital society, it’s important to consider the needs of those who rely on cash, particularly seniors,” NSA Chief Executive Officer Chris Grice said.
“Reports show around 7% of Australians use cash for 80%+ of transactions. When retailers refuse cash, it not only inconveniences customers but can also lead to genuine hardship for those who rely on cash.”
As cash use declines, so does the number of access points available to withdraw it. Since 2017, the number of bank owned ATMs across Australia has dropped by more than 8,000 machines or almost 60%.
“ATM and bank closures impact people who are less inclined to bank online or travel to another branch. In regional areas, travelling to another branch may not be feasible. Closures need to be considered with older people in mind, to ensure they can access cash, transfer money, and pay for groceries and bills just as they always have,” Mr Grice said.
“Not all seniors are comfortable using debit or credit cards, or banking online, because they’re not tech savvy; they’re fearful of potential scams and cash is what they’ve always known.
“Doing any business online comes with problems and risks. In emergency situations and during outages, when electronic systems crash, cash plays a vital role, offering security and stability. It really is a case of use it or lose it!“
“By reinforcing the importance of maintaining cash, especially for older people and others who may be less comfortable with digital alternatives, NSA continues to advocate for inclusive systems that cater to all Australians,” Mr Grice said.
