Australians are using less cash, but paying more to get it. That is the warning in the Reserve Bank’s latest Payments System Board annual report, released in September 2025.
Key Facts
- Source: RBA Payments System Board annual report
- Bank-owned ATMs and branches have fallen in number
- Independent ATMs, which usually charge fees, now have a bigger share
- The big four banks have paused regional branch closures until 2027
- Canstar said 230 branches closed in 2023–24
What the RBA Said
The RBA said: “The decline in transactional cash usage has been associated with a significant reduction in the number of cash access points – primarily bank-owned ATMs and branches.”
It said independently owned ATMs, “which typically charge fees”, had gained a larger share of the market.
Regional Australia
The RBA said more communities have no face-to-face banking. It said this hurts people who need in-person help.
Canstar analysis of APRA data found 230 branches closed in 2023–24. Of those, 52 were regional.
Cash Still Wanted
Jason Bryce from the Cash Welcome campaign said: “Demand for cash depends on our ability to access cash easily and cheaply – and that’s getting more difficult.”
The federal government has said it plans to make cash accepted for essential services.
Frequently Asked Questions
Why is it costing more to use cash?
Many free bank ATMs have closed, so more people use independent ATMs that charge fees.
Are banks still closing regional branches?
The big four banks have agreed to pause regional branch closures until 2027.
Is cash still legal tender?
Yes. The government plans laws to protect cash for essential services.
Conclusion
Cash is getting harder and dearer to access, especially in the bush.
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