12 votes

Australian petition against bank actions cutting branch locations and restricting access to cash gains more than 120,000 signatures

Posted by boxer_dogs_dance
Tags: banking, australia, banks, petitions, money, cashless, tabloid, author.brett lackey, source.dailymail
https://www.dailymail.co.uk/news/article-12391503/Change-org-petition-launched-stop-Australia-cashless-society-banks-restrict-customer-access-cash.html

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Title
Petition launched to stop Australia from becoming a cashless society
Authors
Brett Lackey
Published
Aug 10 2023
Word count
778 words

5 comments

  1. [5]
    ignorabimus
    Link
    Eew Daily Mail. I have to say that given how difficult it is to deal with many banks (mostly around issues of identity verification, which are at once very tedious, but don't seem to be very...

    Eew Daily Mail.

    I have to say that given how difficult it is to deal with many banks (mostly around issues of identity verification, which are at once very tedious, but don't seem to be very effective[0]) I can totally understand why people are upset about their branches being closed down (although branches are just as bad – I have spent several years trying to recover some money from an account made dormant at a major bank and they keep putting up in-branch procedural impediments).

    It would be nice to have a government ID system (e.g. passports are cryptographically signed) which would make online banking a lot more pleasant. Governments should also push banks to adopt basic features (e.g. instant free transactions which thankfully are now pretty common). Banks who leak customer data (because they are hacked) should have to pay large fines to each affected customer.

    [0]: I have had bank employees move money out of my account (unauthorized, so theft), fraudsters open fake credit cards in my name.

    4 votes
    1. boxer_dogs_dance
      Link Parent
      I did check to see if I could find the story in a more reputable paper. I'm a fan of post office banking for basic savings and cash management. I'm not a fan of requiring people to have smart...

      I did check to see if I could find the story in a more reputable paper.

      I'm a fan of post office banking for basic savings and cash management. I'm not a fan of requiring people to have smart phones to use money. Some people are homeless and more are poor.

      (US perspecive) https://www.investopedia.com/what-is-postal-banking-5217341#:~:text=Postal%20banking%20refers%20to%20providing,paying%2C%20and%20even%20small%20loans.

      3 votes
    2. [3]
      skybrian
      Link Parent
      Yes, better government ID systems would likely be helpful for many organizations serving the masses, but it will be resisted because it looks too dystopian to many people. What if you don’t have a...

      Yes, better government ID systems would likely be helpful for many organizations serving the masses, but it will be resisted because it looks too dystopian to many people. What if you don’t have a government ID?

      An alternative to traditional banking is what the more idealistic cryptocurrency advocates were trying to build, until they ran into all sorts of problems. Many people who want to make more money aren’t fussy about how they do it. Anything having to do with anonymous money attracts scammers.

      2 votes
      1. [2]
        ignorabimus
        Link Parent
        I think most of the cryptocurrency advocates were primarily trying to evade financial regulations.

        I think most of the cryptocurrency advocates were primarily trying to evade financial regulations.

        1 vote
        1. skybrian
          Link Parent
          They are rarely happy about financial regulation. They can still be idealists, though, sometimes.

          They are rarely happy about financial regulation. They can still be idealists, though, sometimes.

          1 vote