October 4, 2023 9:37 pm

The End of ATMs in Australia? Thousands of Cash Machines Are Removed Across the Country As Banks Go Digital

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

URGENT: JUST 11 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, TO ENSURE WE ARE FULLY FUNDED FOR NEXT MONTH,SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS - Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

The End of ATMs in Australia? Thousands of Cash Machines Are Removed Across the Country As Banks Go Digital

By Andrew Prentice

– ATM’s and bank branches across Australia are continuing to close at a rapid rate
– Switch by customers to digital banking seen ‘Big Four’ banks switch their focus
– ANZ head of distribution Kath Bray said changes were a clear sign of the times

As Australian banks continue to focus on digital transactions for customers, ATMs and bank branches are disappearing across the country, according to new data.

The analysis revealed close to 460 bank branches have shut down across the nation in recent years, and dating back to 2020, approximately 3800 previously active ATMs have been removed.

NSW alone now has 140 fewer in-store banks, and almost 300 suburbs don’t have a singular ATM to withdraw cash.

It is a similar story in Victoria, where 120 branches have permanently closed their doors to customers.

‘Closures have a devastating impact on local communities,’ Finance Sector Union national secretary Julia Angrisano said.

As Australian banks continue to go digital, ATM's are becoming rapidly redundant, according to new data (pictured, customers using a cash machine in Sydney)
As Australian banks continue to go digital, ATM’s are becoming rapidly redundant, according to new data

In NSW alone, NSW now has 140 less in-store banks compared to a few years ago, and almost 300 suburbs across the state don't have a singular ATM to withdraw cash (pictured, a customer outside the Reserve Bank of Australia)
In NSW alone, NSW now has 140 less in-store banks compared to a few years ago, and almost 300 suburbs across the state don’t have a singular ATM to withdraw cash

‘Jobs are lost, business is impacted, and another local service disappears.’

The closures have hit hard in regional and rural areas, and for older citizens, Ms Angrisano added.

Another key factor for the branch closures and reduced ATM’s is the fact that banks are bringing in a small fortune from daily digital transactions.

As Australia accelerates towards a cashless society, fees from either the customer or vender for online banking have become common place.

In a modern-day digital world, an estimated 80 percent of Aussies prefer to bank online.

But the remaining 20 per cent, namely the disabled or those who are not digital savvy, have been left stranded.

Tellingly, CBA now has 875 bank branches nationwide – compared to 1134 in February 2020.

Their number of ATMs has reduced to just over 2000 – in 2019 there were 4118 ATM’s in circulation.

Last year, ANZ head of distribution Kath Bray said bank branch closures were a sign of the times, with digital transactions now the primary focus for many.

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Related News

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Australian National Review is Australia’s first real free and independent press, one with no editorial control by the elite, but a publication that can generate critical thinkers and critical debate and hold those spreading mistruths and deliberate propaganda in mainstream media to account.

News with a difference that will be educational, compelling and create a platform for political and social change in this country and address the real issues facing this country and the world.

Watch Full Documentary

URGENT: JUST 3 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED TO LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS

Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Get access to TruthMed- how to save your family and friends that have been vaxx with vaccine detox, & how the Unvaxxed can prevent spike protein infection from the jabbed.

Free with ANR Subscription from $8

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY