Category Archives: cash

EXPERTS LINE UP TO SLAM CSIRO COVID CASH LINK

Widely reported research published this week in Virology Journal by the CSIRO and the Australian Centre for Disease Preparedness (ADCP) in Geelong found that COVID-19 can survive for significant periods on non-porous surfaces. The experiment was conducted in a dark area, with artificial mediums using high loads of virus. Professor of Infectious Diseases, Peter Collignon from the Australian National University

Read more

RESERVE BANK REJECTS DIGITAL CURRENCY, SAYS CASH IS SAFE

The Reserve Bank of Australia’s latest Quarterly Bulletin has rejected the idea of issuing a digital currency for Australia. Long held up as the future of the ‘physical’ currency, a digital currency is a verified token or account that could replace actual notes and coins without a bank or a card company involved. It’s real money online, issued by the RBA, worth

Read more

RBA must protect our right to use cash

The Reserve Bank of Australia recognised the essential role of cash in the economy in last week’s Payment System Board update: The PSB noted “the importance of the community continuing to have good access to cash withdrawal and deposit services, even as the overall use of cash for transactions declines.” However, unlike the RBNZ, the RBA does not propose concrete

Read more

Cashless society – embrace it or fear it?

There has been a surge in cashless payments during the COVID-19 pandemic, igniting expectations, and fears, that Australia could become a completely cashless economy. More than two thousand ATMs and hundreds of bank branches throughout Australia have been removed already in 2020. Plenty of Aussies are not embracing the idea of a cashless economy according to a big new study

Read more

We need ATMs for access to cash

More than seven thousand ATMs have been removed from communities throughout Australia in the last three years. The big banks are reducing their ATM network and branch network footprints and our access to cash along with it. More than two thousand ATMs have disappeared in the last three months according to the Australian Payments Network. 175 bank branches have also

Read more

Reserve Bank FOI docs reveal virus research

Reserve Bank of Australia documents released under Freedom of Information in June 2020 reveal the RBA has been investigating cash and virus transmission since way back in 2003. And it turns out cash poses no significant risk of carrying viruses. A senior researcher told his superior: “banknotes pose minimal risk of transmission of disease.” “die-off of microbial populations is more

Read more
Recent Entries »