By Jason Bryce
Are we being herded into a cashless society? Australia lost 643 bank branches and a massive 4,194 bank-owned ATMs in the four years to June 2020 according to the Australian Prudential Regulatory Authority and the trend has accelerated since then.
The Finance Sector Union says the big banks have recently reported to them that more bank branches are to be closed – 259 more to be exact.
Since the onset of the COVID-19 pandemic in early 2020, NAB has closed, or is closing, 45 branches, ANZ is down 127 branches, Westpac is shutting 56 branches and Commonwealth Bank is down 31 branches.
Many people trust and rely on cash and don’t want to move their money to digital payment systems. The banks say they are helping older people use cards, phones and apps to manage their banking and pay for goods and services. But many people just don’t want to do that and find cashless payments and cashless banking stressful.
Meanwhile some merchants are moving to charge their customers for using a card to pay – and not providing a surcharge-free option – like cash. So as our access to cash and bank branches diminishes, the charges we are levied for making payments are increasing.
And that’s just the start of the issue. Without cash, shoppers and retailers are vulnerable to payment system outages. And their purchases are no longer completely private.
But most people who prefer cash say that it just makes budgeting easier. The ‘pain of purchasing’ is reduced when the buyer doesn’t feel the physical money leave their wallet and hands. A tap or wave near a card reader is less ‘painful’ than handing over cash, so spending is easier and keeping to a budget is harder.
A cashless society may suit banks, big retailers and cashless payment system companies but it doesn’t suit everyone. Millions of Australians trust and rely on cash for their essential purchases and want to retain the right to choose how they pay for goods and services.
Here are the full lists of Commonwealth Bank, Westpac, NAB and ANZ bank branches that are closing, or have closed in 2020 and 2021:
Augusta
WA
Berwick
VIC
Blayney
NSW
Burleigh Heads
QLD
Cheltenham
VIC
Dianella
WA
Dimboola
VIC
Dungog
NSW
Erina
NSW
Everton Park
QLD
Kin Kora
QLD
Korumburra
VIC
Lavington
NSW
Manly West
NSW
Matraville
NSW
Merrylands
NSW
Millicent
SA
Molong
NSW
Monbulk
VIC
Narrabeen
NSW
North Bridge
NSW
North Hobart
TAS
Renmark
SA
Seaford
VIC
St Agnes
NSW
Sugarland
QLD
Tatura
VIC
The Junction
NSW
Timboon
VIC
Waverley
NSW
Weston
ACT
Augusta
WA
Berwick
VIC
Blayney
NSW
Burleigh Heads
QLD
Cheltenham
VIC
Dianella
WA
Dimboola
VIC
Dungog
NSW
Erina
NSW
Everton Park
QLD
Kin Kora
QLD
Korumburra
VIC
Lavington
NSW
Manly West
NSW
Matraville
NSW
Merrylands
NSW
Millicent
SA
Molong
NSW
Monbulk
VIC
Narrabeen
NSW
North Bridge
NSW
North Hobart
TAS
Renmark
SA
Seaford
VIC
St Agnes
NSW
Sugarland
QLD
Tatura
VIC
The Junction
NSW
Timboon
VIC
Waverley
NSW
Weston
ACT
255 George St, Sydney
NSW
Baddington
WA
Ballarat
VIC
Balmoral
VIC
Bargara
QLD
Bateau Bay
NSW
Blayney
NSW
Brisbane
QLD
Carnegie
VIC
Chester Hill
NSW
Cobden
VIC
Collins St, Melbourne
VIC
Coolum Beach
QLD
Dandenong South
VIC
Dorrigo
NSW
Dromana
VIC
Dungog
NSW
Dural
NSW
Ellenbrook
WA
Eltham
VIC
Fyshwick
NSW
Gordonvale
QLD
Hawthorn
VIC
Heathcote
VIC
Kenmore
QLD
Kotara
NSW
Mittagong
NSW
Monbulk
VIC
Morningside
QLD
Murgon
QLD
Nerang
QLD
Osborne Park
WA
Rowville
VIC
Rutherglen
VIC
Sandgate
QLD
Spearwood
WA
Stirling
SA
Thomastown
VIC
Virginia
QLD
Wanneroo
WA
Warriewood
NSW
Wee Waa
NSW
West Perth
WA
Wollongong
NSW
Yarram
VIC
Aitkenvale
QLD
Ashfield
NSW
Aspley
QLD
Australind
WA
Baulkham Hills
NSW
Beenleigh
QLD
Beerwah
QLD
Blacktown Westpoint
NSW
Bondi Beach
NSW
Bondi Junction Westfield
NSW
Bribie Island
QLD
Bright
VIC
Broadbeach
QLD
Brunswick
VIC
Bundoora
VIC
Burpengary
QLD
Burwood Westfield
NSW
Cairns
QLD
Camden
NSW
Campbelltown
NSW
Cheltenham
VIC
Chifley Square
NSW
Childers
QLD
Cohuna
VIC
Collingwood
VIC
Corio
VIC
Corrimal
NSW
Cowes
VIC
Crows Nest
NSW
Dapto
NSW
Docklands
VIC
Donald
VIC
Drouin
VIC
Earlville
QLD
Earlwood
NSW
East Maitland
NSW
East Victoria Park
WA
Elizabeth
SA
Engadine
NSW
Erina Fair
NSW
Five Dock
NSW
Gatton
QLD
Geelong
VIC
Glenferrie
VIC
Gordon
NSW
Hallett Cove
SA
Hampton
VIC
Huonville
TAS
Ivanhoe
VIC
Kalamunda
WA
Kangaroo Flat
VIC
Kiama
NSW
Kingsford
NSW
Kingsgrove
NSW
Kingsway
WA
Kirwan
QLD
Kyabram
VIC
Lake Haven
NSW
Mackay North
QLD
Maffra
VIC
Mandurah
WA
Maroubra Junction
NSW
Mawson Lakes
SA
Melbourne
VIC
Menai
NSW
Mittagong
NSW
Moe
VIC
Mordialloc
VIC
Mortlake
VIC
Morwell
VIC
Mossman
QLD
Mount Eliza
VIC
Mount Waverley
VIC
Mowbray
TAS
Mulgrave
VIC
Nerang
QLD
Niddrie
VIC
North Melbourne
VIC
Northbridge
WA
Numurkah
VIC
Paddington
QLD
Paramatta
NSW
Penrith
NSW
Perth
WA
Pialba
QLD
Port Adelaide
SA
Port Fairy
VIC
Port Melbourne
VIC
Potts Point
NSW
Proserpine
QLD
Reservoir
VIC
Riverton
SA
Rosebud
VIC
Runaway Bay
QLD
Sandy Bay
TAS
Scottsdale
TAS
Seaford
SA
Smithfield
QLD
Somerville
VIC
South Perth
WA
South Yarra
VIC
Springwood
NSW
St Arnaud
VIC
St Kilda
VIC
St Leonards
NSW
Stawell
VIC
Stirling
SA
Sydney
NSW
Surry Hills
NSW
Tewantin
QLD
Toormina
NSW
Toronto
NSW
Torquay
QLD
Torquay
VIC
Torrensville
SA
Tuart Hill
WA
Ulverstone
TAS
Victoria Point
QLD
Warnbro Fair
WA
Wee Waa
NSW
West End
QLD
West Perth
WA
Willeton
WA
Willoughby North
NSW
Winston Hills
NSW
Woolloongabba
QLD
Woy Woy
NSW
Balwyn
VIC
Berwick
VIC
Brunswick
VIC
Bundoora
VIC
Burwood East
VIC
Carnegie
VIC
Ferntree Gully
VIC
Forest Hill
VIC
Hawthorn
VIC
Ivanhoe
VIC
Karingal
VIC
Mentone
VIC
Oakleigh
VIC
Rowville
VIC
Springvale
VIC
St Kilda
VIC
Toorak
VIC
Hindmarsh
SA
Plympton
SA
Roxby Downs
SA
Churchill Centre
SA
Magill
SA
North Adelaide
SA
Budgewoi
NSW
Kippax Fair
ACT
Avalon Beach
NSW
Belmont
VIC
Bondi Beach
NSW
Carnegie
VIC
Dubbo
NSW
Five Dock
NSW
Grafton
NSW
La Trobe University
VIC
Lithgow
NSW
Mackay North
QLD
Melbourne
VIC
Mildura - Business Division
VIC
Monash University
VIC
Mount Eliza
VIC
Murray Bridge
SA
Newington
NSW
North Melbourne
VIC
Northbridge Plaza
NSW
Renmark
SA
Seaford Central
VIC
Sunnybank Hills
QLD
Surry Hills
NSW
Sydney
NSW
Tanunda & Port Agusta
SA
University Hill
VIC
Victoria Harbour
VIC
Victoria Point
QLD
Wanneroo
WA
Warrnambool
VIC
West End
QLD
West Perth
WA
(source FSU and The New Daily)