As Cash Use Plummets in Australia, Concerns Grow Over Maintaining Access

Cash usage has declined sharply in Australia, from 69% of transactions in 2007 to just 13% in 2022, while card payments now make up 76% of transactions.

As cash use declines, access points like ATMs and bank branches are disappearing, raising concerns about maintaining access for those who rely on cash.

The economics of distributing cash are becoming challenging, with cash transport companies losing money, prompting discussion of potential consumer fees to access cash.

Some consumers and small businesses still prefer using cash, citing emergency backup, unreliable digital payments, privacy concerns, and ease of tracking spending.

Declining cash usage poses problems for cash transport companies and banks, who may need government or industry intervention to keep cash available into the future.