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Cash Out Day today

Western Plains App

Ailish Dwyer

22 April 2025, 2:40 AM

Cash Out Day today Image: Pexels

Jason Bryce, founder of Cash Welcome, is calling for Australians everywhere to join a 'Cash-Out' day on Tuesday 22 April.  

 

Bryce started a petition for an Australian cash guarantee after his local bank branch in Yarraville, Melbourne closed in 2020.  

 

Since then his petition has gained over 200,000 signatures. 


Bryce has remained a strong advocate for the right of all Australians to use and access cash in their day to day life.  


 

For cash-out day, he encourages everyone to make a withdrawal from their local bank or ATM to remind banks and the Government that cash is still important to Australians.  

 

"I urge everyone to just simply take our some money from your account, keep it in your purse or wallet for spending and emergencies and enjoy the freedom we enjoy to spend our money how we like."

 

In regional Australia, the access to cash is becoming increasingly limited as branch closures continue to affect communities.  

 

Earlier this year, Reserve Bank of Australia Governor Michelle Bullock said maintaining access to physical currency is increasingly difficult, as cash is becoming more expensive to store, process, and distribute due to lower demand.  


In the short-term, the RBA is continuing to supply currency, but in the long-term Bullock says Australia will "need a new system to keep distribution viable."  


 

However opponents of a 'cashless society' say that it is the behaviours of big business, especially banks, and government who are forcing ordinary Australians away from cash.


Branch and ATM closures, restricted banking hours, making services or products available 'online only' and other profit-driven decisions are herding customers to digital transactions.


According to a report from investigative journalist Dale Webster, there were 2804 banks in 1126 regional locations across the country in 1975.


By March 2024, only 922 branches were still open.  

 

Commonwealth, ANZ, NAB and Westpac signed a new deal with the federal Government to ensure all regional branches would remain open until at least July 2027.  

 

Bryce says the move is a positive, and shows the power the public can have.  

 

"That's why we need pressure, otherwise it's just profit motive guiding them.  

 

"The way banks maintain trust in the system is to allow us to withdraw our money and have cash in our hand. If they can't guarantee that, then it undermines faith and trust in the whole banking." Â