Australian’s protest the mass closure of bank branches and bring attention to the country’s move to go away from cash.

Commercial banks in Australia have shuttered more than 1500 branches from 2018 to 2023 at the same time banks removed more than 2500 ATM across Australia

Because of the user concern the biggest four banks say that they have no plans to fully abandon money.

But bank branches and ATMs keep disappearing as announced Bankwest will close all its branches in Western Australia by the end of year.

As the current situation began to cause discomfort for many Australian citizens, many protested against the country’s decisions to be cashless society. Masses of people were seen queuing up outside ATMs to withdraw cash. People are starting to understand the changes that are happening with the goal of being functionally cashless by 2025.

Not only old people but young people too are lining up at various banks and ATMs around the country waiting for hours to get their hands on bank notes.

This may lead to so called „Bank run “and it can be devastating to banks if they continue to abandon money, but demand for cash goes up.  One of factors for abandoned cash is a statistic data of Reserve Bank of Australia (RBA) who show that in 2010 more than 65% purchases used cash compering 2024 only 10%.

One more interesting fact about Australian business is that they can refuse to accept cash before any contract for supply of goods or services.