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Cash option fading

C7Vol said:
Please check the options with your bank.
I know I can set my account to only allow as little as $1000 per day. I don't have it set that way, but it is possible.
Surely the $600 limit is something you can change.
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I can withdraw $1000 a day but can't transfer to someone else or pay bills online exciting $600. I am with Bendigo bank
 
Miss Monique said:
I can withdraw $1000 a day but can't transfer to someone else or pay bills online exciting $600. I am with Bendigo bank
Click to expand...
.https://www.bendigobank.com.au/support/e-banking/move-money/

In that link it says you can increase up to $30,000. Need to fill in a form or ring them.
 
I was saying to my friend yesterday, last year I used to go to the bank and deposit my money and now I rarely get cash. This week one client paid cash the rest were beem it bank transfer or card payment. Its easier for tax as it is all done automatically but it's so strange not having cash anymore! In the 3 years I've been in the industry it's changed dramatically it used to be all cash rarely anyone paid electronically, now it's rare I get cash at all.
 
I've also noticed when I do deposit cash now the bank want to know all my info and I have to sign for it, never used to be the case for deposits only withdrawals. My mum couldn't deposit over the counter into my account because she didn't bank with them, even with ID and it was only $150. I know $10,000 or more they used to for the anti money laundering but never under. She was told to use the ATM but it was out of service 🤦‍♀️
 
AmeliaKennedy said:
I've also noticed when I do deposit cash now the bank want to know all my info and I have to sign for it, never used to be the case for deposits only withdrawals. My mum couldn't deposit over the counter into my account because she didn't bank with them, even with ID and it was only $150. I know $10,000 or more they used to for the anti money laundering but never under. She was told to use the ATM but it was out of service 🤦‍♀️
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They are definitely trying to crack down on the cash economy. They know they are missing out of a huge amount of tax revenue thanks to cash. They will keep making the cash option harder but I for one refuse to surrender my choices. My money, my choice!
 
No Australian government is brave enough to increase the GST and need more ways to get money because none have the balls to say we have fucked up and need to curtail indiscriminate spending and cost blowouts.
 
so the NAB closed its branch in my suburb and they also took the ATM with them... the next one is a suburb over
and drove all the way there to find it out of service... it takes the major banks 24-48 hours to process online deposits and I'm not
giving a WL money 48 hours in advance... I don't know how instant apps like Beem It and Venmo are but will it be a case of
having to do an online transaction outside a lady's door or in her lounge as we both wait patiently for it to go through?? and I
can only imagine how extras would be processed mid appointment! any idea of how to get around the bank's fuckery?
I'm all ears!
 
DavidTeague16 said:
so the NAB closed its branch in my suburb and they also took the ATM with them... the next one is a suburb over
and drove all the way there to find it out of service... it takes the major banks 24-48 hours to process online deposits and I'm not
giving a WL money 48 hours in advance... I don't know how instant apps like Beem It and Venmo are but will it be a case of
having to do an online transaction outside a lady's door or in her lounge as we both wait patiently for it to go through?? and I
can only imagine how extras would be processed mid appointment! any idea of how to get around the bank's fuckery?
I'm all ears!
Click to expand...
Beemit is instant and also doesn't show as your name or their name on the transaction just whichever username you've opted for. I'm getting more and more beemit transactions.
 
DavidTeague16 said:
so the NAB closed its branch in my suburb and they also took the ATM with them... the next one is a suburb over
and drove all the way there to find it out of service... it takes the major banks 24-48 hours to process online deposits and I'm not
giving a WL money 48 hours in advance... I don't know how instant apps like Beem It and Venmo are but will it be a case of
having to do an online transaction outside a lady's door or in her lounge as we both wait patiently for it to go through?? and I
can only imagine how extras would be processed mid appointment! any idea of how to get around the bank's fuckery?
I'm all ears!
Click to expand...
You say that it takes 24 - 48 hrs to process a transfer. I believe this is only for the first transfer to an unknown account.

I have the bank details (bsb and account) of my favourite WL. After doing one transfer, the following transfers happen in a few seconds. I pay her when I arrive at the door.
 
AmeliaKennedy said:
I've also noticed when I do deposit cash now the bank want to know all my info and I have to sign for it, never used to be the case for deposits only withdrawals. My mum couldn't deposit over the counter into my account because she didn't bank with them, even with ID and it was only $150. I know $10,000 or more they used to for the anti money laundering but never under. She was told to use the ATM but it was out of service 🤦‍♀️
Click to expand...
could try the post office but that's part of the problem as banks handball that off to Australia Post as well.
 
This article popped up on my news feed, may write to the ACCC about the high surcharges that most AMPs etc add on top to "cover" the chargers from their bank.

www.sbs.com.au

Being hit with card surcharges everywhere you go? These are the rules around them

While Australia appears to be moving towards becoming a cashless society, more businesses than ever are charging customers a fee to pay with a credit or debit card.
www.sbs.com.au www.sbs.com.au

I was at a cafe today and I was charged 44 cents on top of a $29 order and yet the Subway across the way had a sign on the door stating cash only, guessing their internet was down, and the closest ATM was a 3rd party type that chargers about $3 to get cash out of your account and $1:50 to merely check one's balance. 🥴
 
Yes. We are being well and truly screwed by the federal government who is happy with the banks going cashless because this saves the government from making money. Once we are totally digital those who are in control will have your money.
Eventually the agenda from this new globalisation world bank will come out and we will be the losers.
 
Weber said:
This article popped up on my news feed, may write to the ACCC about the high surcharges that most AMPs etc add on top to "cover" the chargers from their bank.

www.sbs.com.au

Being hit with card surcharges everywhere you go? These are the rules around them

While Australia appears to be moving towards becoming a cashless society, more businesses than ever are charging customers a fee to pay with a credit or debit card.
www.sbs.com.au www.sbs.com.au

I was at a cafe today and I was charged 44 cents on top of a $29 order and yet the Subway across the way had a sign on the door stating cash only, guessing their internet was down, and the closest ATM was a 3rd party type that chargers about $3 to get cash out of your account and $1:50 to merely check one's balance. 🥴
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The AMP's aren't charging you to cover the bank fees, they're charging you because they need to declare it as income and pay tax on it. Cash they don't have to :banghead:
 
Not really a Federal government thing, more of an agenda of the unelected persons that attend Davos every year.
 
Cash is still far from dead, yes banks want to save money on staff and office space but there are other options. I go to the post office, Coles or Woolworth, no fee. Also, if you bank with more than one bank you have more options when it comes to daily withdrawal limits.
 
Letter in yesterday's papers...
1706833586429.png
 
JT777 said:
I thought it was for condoms 😂
Bit sad if your salary fits it these days
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Let's see, sex workers charging upwards of $500 an hour.
Petrol prices skyrocketing.
Food/Grocery prices out of sight.
Companies closing down with signs of a recession sometime this year.

Yup, it's reduced purchasing power of salaries to two fifths of f.a.
 
As soon as Covid came along I knew they’d use it as a reason to remove cash.
All part of the grand plan and there’s many jealous people out there that don’t get any cash who want to see others suffer.
Some people sigh when they have to wait behind me an extra ten seconds while I get my change
When systems go down and there is no cash available they may realise there error
Banks are just greedy dogs as are the ones we elect into government
 
JT777 said:
As soon as Covid came along I knew they’d use it as a reason to remove cash.
All part of the grand plan and there’s many jealous people out there that don’t get any cash who want to see others suffer.
Some people sigh when they have to wait behind me an extra ten seconds while I get my change
When systems go down and there is no cash available they may realise there error
Banks are just greedy dogs as are the ones we elect into government
Click to expand...
Agree. Banks want cash gone. Why? Because for every electronic transaction made, they get a small piece of the pie. With cash, they never see a dime of it. Governments want cash gone too. No need to guess why.
 
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