Leave the bank
You’ll own nothing and like it is moving forward
“and all cash withdrawals to take place entirely at ATMs”
so the customers can still get cash.
There is no more need for tellers and walk-up banking. Sounds like a cost-cutting measure since you can still do cash transactions at ATMs.
This is essentially what we have worldwide right now. The only difference is that human tellers won’t have to worry about being killed or taken hostage by a bank robbery. Its a security decision, not the mark of the beast.
The real looming controversy is the planned transition from paper currency to digital currency like the CBDC stable coin pegged to the US dollar and under test by the Federal Reserve.
The theory is that this will eliminate the multi-step clearing procedure that now takes place when purchases are made and accounts are debited and credited in a secure way. In an ideal world, all validation of transactions would be handled by AI agents in milliseconds eliminating the 31 current processing steps needed to clear checks and credit card transactions.
The chief opposition to this is from the middle men processing businesses that make billions skimming off the flow of trillions of dollars in transactions every day.
I was there earlier this year. I found that many businesses, and especially restaurants and public services, would not accept cash. However, when I did pay for something in cash, I immediately came to regret it. Australian coins, known locally as "shrapnel", are very large and very heavy.
“.. a safer, quicker, and more convenient way to bank.”
Safer for whom? Hackers must love these sorts of decisions.
Transfer your money to another bank. 🙄
Considering how remote alot of that country is-—Depending on power/electronic services is madness.
Australia has been a prime test market before a US rollout for many things.
Preview of how they will do it here. The government will issue a secret order to banks to stop accepting cash, and voila cash will become illegal, without any legislation or Supreme Court review.
THEY WANT CONTROL OF YOU