Covid-19 fears accelerated banks’ moves towards cashless transactions. But the Reserve Bank has come out swinging on the side of cash – and the often vulnerable people who still use it.
The annual Monster Book Fair in the Kapiti Coast town of Paekākāriki is a big deal. It’s run by local volunteers and goes on for three days. There are thousands of books for sale, and big money gets raised by volunteers, many of them retirees, for the St Peter’s Hall restoration fund.
But last year, when the fair was over and the treasurer went to a BNZ branch with several thousand dollars worth of coins and notes, she was horrified to be told she couldn’t bank the money inside.
Instead, the teller said she had to walk out of the bank and post it in separate lots in the ATM deposit slot.
Read more
The annual Monster Book Fair in the Kapiti Coast town of Paekākāriki is a big deal. It’s run by local volunteers and goes on for three days. There are thousands of books for sale, and big money gets raised by volunteers, many of them retirees, for the St Peter’s Hall restoration fund.
But last year, when the fair was over and the treasurer went to a BNZ branch with several thousand dollars worth of coins and notes, she was horrified to be told she couldn’t bank the money inside.
Instead, the teller said she had to walk out of the bank and post it in separate lots in the ATM deposit slot.
Read more
Will Ireland be Cashless?
