RBA’s little changes point to altered direction on cash

The Reserve Bank of Australia has quietly changed this page today:

banknotesrba

 

This new page from the RBA reflects a subtle but important new emphasis and the start of what could be a continued gentle push from the PSB/RBA to protect the cash economy.

While some Australian state health departments have advised consumers and retailers against using cash at the POS if possible, the World Health Organisation, RBA and Mint advice has been consistent – cash is no more susceptible to virus transmission than other common surfaces, including cards and POS terminals.

The longer the pandemic has persisted, the more we have learnt about transmission of the virus. Money, of any kind, whether digital, on plastic card or as physical notes, has not been a big problem.

The cash industry has pushed back against governments whose health advice went gone beyond the WHO and the RBA’s COVID-19 guidance. The cash industry, including ATM and cash distribution companies, has made strong representations to all the Australian financial regulators and Commonwealth financial ministers.

“We all need to be safe and follow the health advice during this pandemic,” said Tim Wildash, Chief Executive Officer of Next Payments, a leading ATM network.

“And that means good hand hygiene, regardless of what payment method you choose.”

More information about cash at www.CashWelcome.ORG

 

tim wildash

Tim Wildash CEO Next Payments

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