Concerns for seniors in shift to cashless society
<p>Experts have voiced their concerns that senior Aussies will be left behind as the banking industry continues to move away from using cash.</p>
<p>National Seniors Australia chief operating officer Chris Grice said there has been a "big shift to getting people off cash", as many financial institutions favour digital transactions. </p>
<p>While this shift is geared towards leaning into technological and advancements and making things as convenient as possible, there are worries that older Aussies will be left struggling with the change. </p>
<p>"The feedback we're getting it is not as easy as, you know, just tap and go and away you go," Mr Grice told <a href="https://9now.nine.com.au/today/commonwealth-bank-statement-on-claims-of-cashless-branches/63ed8948-8dbc-40a9-a2cc-a58b2b94255e" target="_blank" rel="noopener"><em>Today</em></a>.</p>
<p>"Some of these regional communities in particular, have challenges around internet access."</p>
<p>While cash will still be readily available, Mr Grice warned that people trying to access their cash could face increasing transaction fees at ATMs. </p>
<p>Meanwhile, Commonwealth Bank has responded to reports that it has increased the number of "cashless" branches, where a general banking teller is not provided to service customers, saying Cash withdrawals and deposits are available at all Commonwealth Bank branches and Specialist Centres."</p>
<p>They went on to say that Specialist Centres, for people who require a face-to-face service, will remain in "major metropolitan locations".</p>
<p>There are fears that a growing number of cashless branches across the entire banking industry would disadvantage older Australians who rely on cash as their primary form of banking, leaving many wonder how they will access their money given the limitations. </p>
<p><em>Image credits: Getty Images</em></p>
