Towards the cashless society

Towards the cashless society

From Hal Turner


From August 20th 2023 Westpac Bank Australia customers will be prohibited from withdrawing more than $1000 from their accounts per day.

Other Banks will follow.

Access to your own cash . . . . SEVERELY LIMITED.

Still think Banking troubles are about a computer Virus?

Then, there’s THIS:

One needs only wonder why, if Australian Banks are owned mostly by U.S. financial firms, the people of Australia will be limited to their own money?   Since it is U.S. Firms that __seem__ to be affecting withdrawal limits in Australia, then wouldn’t it be logical to believe they might try the same thing here in the US or over in Europe?

Forewarned is forearmed.  Act accordingly.

I could not see anything that specifically relates to Westpac, but I did find this from the end of March in the Australian media

ANZ kills cash withdrawals in some branches amid public outcry

Outraged community members have taken to social media to blast one big bank’s decision to strip back services across some branches.

There has been public outrage as one of the country’s biggest banks revealed it would stop handling cash at some branches, citing a significant drop in in-branch transactions.

ANZ told NCA NewsWire on Thursday that some services would be stripped, confirming customers would not be able to withdraw cash over the counter in some locations.

Alternatively, staff members will assist customers in using onsite Smart ATMs and coin deposit machines.

ANZ will no longer offer over-the-counter cash withdrawal services in some branches. Picture: NCA NewsWire / David Geraghty

“There are a small number of branches where we no longer handle cash at a counter,” an ANZ spokesperson said.

“At these branches, cash and cheque deposits and cash withdrawals can continue to be made by using our Smart ATM and coin deposit machines and we have staff on hand to help customers that might be using them for the first time.”

Thursday’s announcement has sparked public outcry on social media, with some community members threatening to ditch the bank.

“With all the hacking going on it seems crazy to me to try and do away with cash,” one person wrote.

“Any bank that follows this path will lose customers and eventually go broke … it is bad enough that they are closing branches,” wrote another.

Some users have called the move “utterly ridiculous” and “disgusting”.

ANZ scraps over-the-counter cash transactions in ‘small number’ of branches

‘There’s a danger here of excluding some elements of our society.’

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