Bank outages prove Cashless society just a myth
Banks, card companies and financial institutions like to encourage cashless payment systems. Cashless payment systems generate surcharges, fees, transaction revenue, merchant service charges and consumer information that can be bought and sold.
But they still can’t provide reliability of access and ensure their payment and bank systems are UP and running all the times when they are needed, which is all the time.
Last week, on the 17 June 2021, Commonwealth Bank, Westpac, ANZ and other banks all experienced significant system outages affecting businesses and customers.
Last month many banks had problems impacting their payments functions.
Today, the 23 June 2021, Commonwealth Bank, the biggest bank in Australia is down again. Commbank’s Netbank and Commbank app are both not working leaving customers fuming and without access to their funds.
Why would we give up the most reliable payment system – cash – when the banks can’t provide reliable 24/7 access to our money?
Commonwealth Bank regularly boasts of being the most advanced bank in Australia, with the best app, the best payments systems and is often first to announce new innovations.
But bank systems regularly go DOWN leaving shoppers, businesses and retailers stranded. This can be literally dangerous for people who can get caught out without access to pay for essential supplies, food, medicine.
Cash is always “UP” and it’s surcharge-free! Say No to the Cashless Society