Cash payments have made a comeback as households struggle to cope with high inflation, according to a new study. After decades of falling cash use, the impact of the rapid inflation growth has been reversing the trend toward digital. Credit Karma and The Harris Poll conducted a survey last month, which showed that 53 percent of…
Major Australian Bank Starts Cutting Cash Services At Branches
April 7, 2023
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One major Australian bank has begun phasing out cash transactions at a number of its branches saying it is keeping up with the changing behaviour of customers. Australia and New Zealand Banking Group (ANZ)—one of Australia’s “Big Four”—revealed it would begin removing cash withdrawals and deposit services on March 30. Customers will only be allowed…
Austria Says It Opposes EU Plan to Cap Cash Payments at 10,000 Euros
VIENNA—Austria on Thursday reinforced its status as one of Europe’s most cash-loving countries by saying it opposed a plan by the European Commission to cap cash payments at 10,000 euros ($11,800). Cash is occasionally a topic of political debate in Austria, where the far-right Freedom Party (FPO) has long called for the right to use…
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