Australia likes Cash again

Cash withdrawals are trending up across the nation according to recent data from the Reserve Bank of Australia and is laying to rest concerns about the country moving towards a “cashless society”.

The total value of cash circulating in the Australian economy has hit record highs of almost $103 billion, RBA data has revealed.

“Never has there been more cash in Australia,” spokesperson for the Cash industry campaign Jason Bryce said.

“Using cash is now the new, new thing. Cash is back in style.”

He further claimed the “complete myth of the cashless society, promoted by card companies, phone companies and financial institutions is dead.”

RBA data published on Wednesday showed there were 981,800 more ATM withdrawals in the month of November than in October.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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