Cash Out Day: Millions withdraw funds at ATMs, bank branches in mass demonstration of support for cash
Cash is king, at least for today as a mass demonstration of support for physical currency plays out at ATMs and bank branches across Australia.
Cash is king, at least for today as a mass demonstration of support for physical currency plays out at ATMs and bank branches across Australia.
Millions of Aussies are expected to heed the call of Cash Out Day on Tuesday and withdraw their hard earned money to exercise their right to access and use cash in their local communities.
Cash Welcome founder and financial journalist Jason Bryce, who organised the grassroots event, said taking part was as simple as withdrawing $20 from an ATM, bank or Eftpos retailer.
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By continuing you agree to our Terms and Privacy Policy.“The convenience of tap and go is fine, nobody is talking about taking it away from transaction options, but we need to have a choice of how we pay and everyone needs to use cash every now and then,” he told NCA.
Last week the Reserve Bank of Australia revealed in its Consumer Payments Survey that one third of Australians would face hardship without ready access to cash.
Before the COVID pandemic, a third of transactions at the checkout were made in cash. But a steady decline in the use of cash since then appears to slowly be reversing.
In 2025, 15 per cent of payments were made in cash, up from 13 per cent in 2022. And, the number of in-person payments increased to 19 per cent, up from 16 per cent.
About half of all Australians are still using cash in a typical week. Around 75 per cent of Australians carry cash with them, with the average amount $65.
“Many Australians still carry cash for unexpected transactions or in case electronic payments are not available,” the RBA report by analysts Kieran MacGibbon, Michelle Royters and Faye Wang read.
“Cash use has stabilised over the past few years, following a trend decline over recent decades.”
“The results suggest that one-third of Australians would face hardship or major inconvenience if cash was difficult to access or if shops did not accept cash,” the report said.
But accessing cash is getting harder. Banks are closing down ATMS and branches.
“Maintaining reasonable access to withdrawal and deposit services is important for Australians who want or need to use cash, but the 2025 results suggest that accessing cash has become less convenient than it was three years ago,” the report found.
