Australia’s ANZ Bank to Cease Cash Widhrawls in Some Branches

ANZ, one of Australia’s largest banks, will stop facilitating withdrawals and deposits from certain branches to encourage customers to use a reduced number of ATMs and deposit machines. The move has sparked criticism that it may disadvantage older customers and increase the risk of technical issues.

The bank stated that the affected branches are all in metropolitan areas with nearby ATMs and deposit machines and that in-branch transactions have decreased by over 50% in the last four years. The shift towards a cashless society in Australia has been accelerated by the COVID-19 pandemic, according to the Reserve Bank of Australia.