For generations, cash has been king in Australia. From the humble $5 note tucked away for a rainy day to the jangling coins in your pocket, physical money has been a constant companion for everything from the Saturday morning market to the local bakery.
But if current trends continue, the days of cash could be numbered—and sooner than you might think. Despite the digital revolution, cash still holds a special place in our hearts.
A recent Money.com.au survey found that 68 per cent of Australians—almost 15 million people—believe all businesses should be required to accept cash. Only 5 per cent supported a cashless policy.
Why the loyalty? For many, cash is more than just a payment method. It’s a backup when the internet goes down, the power goes out, or a technical glitch strikes. It’s also a way to avoid those pesky card surcharges, which 39 per cent of us say are the most annoying fees of all.
Yet, even as millions remain loyal to cash, access to it is quietly slipping away. It’s not just ATMs disappearing. Bank branches are closing at a rapid pace, especially in regional and rural areas, making it harder for many—especially older Australians—to access their own money.
According to a recent analysis by Merchant Machine, Australia could be completely without ATMs by 2055. That’s just over 30 years away—a blink of an eye for many of us who remember when EFTPOS was a novelty and ‘tap and go’ sounded like science fiction.
The study found that the number of ATMs per 100,000 people in Australia has dropped by more than 15 per cent between 2012 and 2021. If this rate of decline continues, the last ATM could be switched off by mid-century, leaving Australians with no easy way to access physical cash.
As banks remove ATMs and close branches, the choice to use cash is slowly being taken away. Finder’s Graham Cooke points out that ATM withdrawals have plummeted from 75 million per month in 2009 to just 28 million today. Even after a brief uptick post-COVID, usage remains at historic lows.
Australia isn’t alone in this trend. Countries like Norway and Ireland are racing towards a cashless future even faster, with predictions that they’ll be ATM-free in just over a decade. Interestingly, both have recently introduced laws to protect access to cash, recognising that not everyone is ready—or able—to go fully digital.
Australia, too, is taking steps to ensure cash remains an option for essential services, with new laws expected next year to guarantee physical money is accepted at key businesses.
While digital payments are convenient for many, they’re not for everyone. Older Australians, people in rural areas, and those without reliable internet or smartphones can find themselves excluded from a cashless society. For some, cash is not just a preference—it’s a necessity.
Jason Bryce, a passionate cash advocate, argues that banks have a responsibility to keep cash flowing. ‘They have more than a social responsibility to deliver cash,’ he says. ‘They have an economic responsibility to maintain this national economic infrastructure.’
It’s not just about convenience. Using cash can help you avoid card surcharges and keep better control of your spending. And when technology fails—as it sometimes does—cash is the only payment method that never needs a reboot.
Privately owned ATMs have tried to fill the gap left by the big banks, but they often charge $3 or more per withdrawal. For pensioners and those on fixed incomes, these fees can add up quickly.
The Australian Banking Association predicts that by 2030, cash payments will make up just 4 per cent of all transactions—a dramatic drop from 70 per cent in 2007. The writing may be on the wall, but for now, cash is still with us.
The big question is: will we have a choice in the matter, or will cash simply fade away as the infrastructure disappears?
Are you worried about Australia going cashless? Have you struggled to find an ATM or had trouble paying with cash recently? Or do you love the convenience of digital payments and never want to look back? Share your thoughts and experiences in the comments below—your voice matters!
Also read: Data shows cashless Australia is on the horizon—are you ready for it?
There are obvious benefits to businesses with the payments to it, paid via cashless methods.
However, there must at the very least, be forced to accept that THEY are the ones who need to pay those “pesky” card surcharges, NOT the user!!
Without cash, how can I give money to a charity money box. Donations to these charity collecting boxes in Vets’ surgeries, shopping centres etc must be losing out.
My $6.00 daily coffee costs an extra 6 cents on card.
I try to use my small change to pay cash.
Why,cos it’s the only way business will listen to its customers.
When shareholder value replaced customer service it was a sad day.
I think it was about that time when a handshake meant a deal was struck without a layer of lawyers costs were added.
She will be right mate as a measure of kindness is now hardly heard.
I am fighting back and try and give some kindness to someone a couple of times a week.
Maybe pay a grocery bill for a person ,maybe take an elderly persons bags to there car.
Just something that was common in my younger days.
Have a nice day.
Cash is slowly being taken away from us, I always carry and use cash every week, I also do use Electronic Transfer. But there are a number of instances where, basically you have to use cash, EG:- purchases under $10, purchasing your raffle tickets at the local sports club etc.
I want to have the ability to make the decision of what method of payment I can use, and NOT be TOLD, you have to use this method, where every transaction is recorded, where, when, how much etc !!!!
Other countries around the world are now keeping cash available as they realize vulnerable people need to use cash to pay for daily necessaries. Australia now has to do the same. Cash is King.
If cash goes, so does the lawnmower man and the handyman. There are businesses out there that depend on cash, so they will all be gone.
I’m one of those ‘pesky’ seniors who won’t use card if I don’t have to.
My bank account has no fees, including ATM fees, so why should I pay them just to access my money by card?
I pay my bills each pension day, and then withdraw my food & spending funds IN CASH at either the ATM next to my local Coles supermarket, or the bank if I need to pay the chiro or dentist for my visit (they charge extra for using card).
My answer to those who demand card only is GOODBYE, I’ll never shop here again.
My monthly bank statement is 2-3 pages, so why would I want to reconcile one that’s up to 10 pages? No, thanks.
Most these days don’t realise that your spending habits are recorded if you use card only, and if you ever wanted to increase your credit card limit, etc it can be refused just because the bank can see every purchase you make on your account.