Cashless Banks?

I've had no reason to go to my bank branch in person for quite a while (probably not since we bought our house).

Recently I received a gift of cash from an elderly relative who only deals in cash.

Today I went to my bank to deposit it, and was told it had been cashless for two years. Well, knock me down with a feather! A cashless bank! I was told to go to Australia Post to deposit it instead.

So, is this a thing? Is your bank cashless?

No, our local westpac is not cashless. Which bank is this?

I know some of the non big four are cashless.

P.S. a way around having to go to the bank with cash, obviously depending on the amount, is to pay for your groceries with cash, and transfer the amount of the gift into whichever account you want it in, presuming it's different.

In the end with my business, cash and even cheques were so uncommon that I did just that with the cash - transfer from our personal account to the business account, and otherwise use the cash.

Yes, its a thing.

I went to deposit cash at a big westpac branch in the city a while ago. And was directed to the ATM to deposit it.

I think it depends on the branch location and how much buisness banking they do.

The two bank branches here in my parents regional town both take cash - however the westpac is not only open 4 hrs a day. So most business' have moved to the CBA.

Yes, its a thing.

I went to deposit cash at a big westpac branch in the city a while ago. And was directed to the ATM to deposit it.

I think it depends on the branch location and how much buisness banking they do.

The two bank branches here in my parents regional town both take cash - however the westpac is not only open 4 hrs a day. So most business' have moved to the CBA.

That makes sense. Our westpac is in the middle of a big shopping strip, many of whom would still have cash takings.

I wonder how many of the ones who've changed to contactless payments will stay that way?

The ANZ closest to our work will only take cash deposits through the ATM that is in the foyer, the real people bank tellers do not handle cash.

My credit union/now bank has been cashless for years. They do keep a little bit and can step around the rules a little. I can't remember the last time i needed to deposit cash my friends all to EFT transfers.

Which bank is this?

 

It is a former credit union, and there's only one branch in my (capital) city, which is why I was surprised it's cashless! Surely there are other people out there who need to deposit cash and would rather do it at the bank than at the post office? (I just don't fancy waiting in line there with a - to me - substantial wad of cash!).

And I'm wary of paying for things with cash these days, as many places don't accept it, which is why I wanted to deposit it.

DH has an account with a different bank so maybe I'll see if he can do it for me.

But what if you need to deposit a heap of coins? Cant put them into an atm

But what if you need to deposit a heap of coins? Cant put them into an atm

You can put them into certain coin counting ATMs.

But what if you need to deposit a heap of coins? Cant put them into an atm

Lots of ATMs take coins.

On westpac you can even search your nearest branch that has an atm coin deposit machine.

You can deposit notes into the ATM at the NAB banks - we have to do that for work (yes we still have clients pay cash).

But other than that - supermarkets happily accept cash still, as does Officeworks - which at this time of year can be handy for back to school booklistz!

But what if you need to deposit a heap of coins? Cant put them into an atm

I used to take them to a corner shop, buy a chocolate and swap the rest for a note.

But what if you need to deposit a heap of coins? Cant put them into an atm

The ATM at our local branch accepts coins.

I have banked with ING for years so have always needed to use Aust Post for deposits.

My kids bank don’t have a branch in our town and don’t do post office deposits.

I just use the post office to deposit to my account - I live 400m from a post office franchise - and then transfer to theirs.

When we move I’ll be about 800m from a small post office so planning to do the same.

I banked with Newcastle Permanent. Not cashless but the time I had to withdraw $15k for my brother within a day, it was the biggest pain the arse as I had to transfer the money out and waited a couple of days. Their closest branch was a 2 hours drive from me.

To be honest that was the only time it mattered as it was the only time I’ve ever had to withdraw such a large amount in such a small timeframe.

I keep accounts with multiple banks. I have ones with ING, Citibank, Bankwest and CBA so this way I can transfer cash back and forth depending on my needs. Most of my money now sits with CBA so large funds and buying bank cheque isn’t a problem as I live within Sydney metropolitan.

Cashless banks and depositing coins at the ATM, well I never! Things have certainly changed since I worked in a bank!

Actually, I haven't been in a bank in years. Went in to deposit a cheque and got lectured about how I could deposit it in a box in the wall. And I very rarely carry cash on me nowadays, although DH likes to carry some.

Bet the banks still have to deal with pension day and the passbook run, Thursday fortnight was always flat out when I was working.

Does the post office charge you for the deposit though?

Here you have to use the atm.

And yes you can put coins in the atm.

Does the post office charge you for the deposit though?

nope!

I have a few local banks that have specific coin machines next to the atms

when I worked in a bank we took note deposit but it had to be in an envelope now the envelope is not needed but a lot of atms still take note deposit

One of my local suburbs still has a full service CBA branch, including a street front deposit atm.

The nearer shopping area has had a CBA atm since its branch closed. Noticed the other day that it’s now Armaguard branded, and wondered whether this is an underhanded way to bring back atm fees?

One of my local suburbs still has a full service CBA branch, including a street front deposit atm.

The nearer shopping area has had a CBA atm since its branch closed. Noticed the other day that it’s now Armaguard branded, and wondered whether this is an underhanded way to bring back atm fees?

The big banks have all sold (or are in the process of selling) most of their off-premise atms to companies like Armaguard or Redibank etc.. they’re too expensive to operate & maintain when so many people going cashless.. branches still have bank branded atm though.

I use cash for about 3 things a fortnight atm, the $2.50’fee is just a rip when I’m caught out.

I use cash for about 3 things a fortnight atm, the $2.50’fee is just a rip when I’m caught out.

That is why I bank with ING.

The only time I need cash nowadays is at the club for raffles!!

I use cash for about 3 things a fortnight atm, the $2.50’fee is just a rip when I’m caught out.

 

That is why I bank with ING.

Same here. That said mostly I only get cash for pocket money so I want coins and go to the post office franchise about 400m from my house!