A new survey of over 12,000 CHOICE supporters has found that over 97% feel it's important that businesses selling essential goods and services should be required to accept cash.
The survey also found:
- 83% of survey respondents said they had periodically used cash over the past year to pay for goods or services
- 97% of survey respondents who live in country or remote areas said having fewer places or ways to access cash in their local community in future would have some impact on them
- 83% of survey respondents who live in country or remote areas said if accessing cash in their local community in future was only possible with a small fee, this would have a moderate, significant or big impact on them
"Ensuring ongoing access to cash is an issue that urgently needs addressing, with our survey showing that 83% of respondents still use cash for essential goods and services sometimes, usually or always. Cash must be accessible, accepted by businesses selling essentials, and consumers should be able to pay with cash without any surcharges," says CHOICE Head of Policy, Tom Abourizk.
"Our survey found that cash accessibility and acceptance are particularly important for communities outside of cities. 97% of respondents living in country or remote areas reported that having fewer places to access cash would have some impact on them. Many of these communities have already been hit with multiple bank branch and ATM closures," says Abourizk.
One consumer CHOICE spoke to, Rowena, who works in aged care, told us that she often sees low levels of online literacy and accessing cash to pay bills and buy essentials like groceries is a key part of everyday lives.
"To remove cash would be to remove their ability to basically live, it would be debilitating. It would be more isolating for those who are already isolated," she says.
"There are no existing laws that guarantee the right to access or use cash. While we welcome the government's proposal to mandate the acceptance of cash, it is only a first step. More must be done to secure the future of cash. Access to cash and the ability to use it should not depend on commercial interests. The government needs to act to ensure people in all parts of Australia can rely on cash as a reliable and accessible option," says Abourizk.
CHOICE has made a submission to the Federal Government's consultation on mandating cash acceptance. CHOICE's key recommendations are:
1. The government should take steps to ensure that consumers retain reasonable, free access to cash. This may require improving current cash accessibility in some areas of Australia.
2. Require businesses selling essentials to accept cash, and ensure that these rules are designed to deliver solutions for regional communities.
3. Ensure using cash is free by banning any surcharges on paying with cash.
"Mandating the acceptance of cash will have little value to consumers if they cannot access or use their own money for free in their communities. CHOICE is calling on the government to ensure that all communities also have access to cash when they need it, and are able to use cash without surcharges," says Abourizk.
Sign the petition: www.choice.com.au/CashPetition
Read the submission: https://www.choice.com.au/consumer-advocacy/policy/policy-submissions/2025/february/mandating-cash-acceptance
Case studies are available to share their experience with the media. Contact CHOICE media if interested.
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