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Is cash dead in Australia?
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this post was submitted on 23 Aug 2026
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The surcharges suck, and in another month they won't be allowed, but it's not as though everything is going to be cheaper in the long run.
What we want is for the list price to be the final price, instead of this plus this plus that nonsense.
Yes, by carrying cash things might be 1% cheaper, but most people are happy to pay an extra 1% for the convenience of not carrying cash.
That said, as a card-only person for decades, I think I'm old and grumpy enough to start carrying cash again just because I don't like my bank being all up in my stuff.
Unfortunately the new legislation only stops unforwarding the charge directly, there is nothing to stop the banks and card companies charging the vendor. Prices will likely go up across the board and if you pay cash, you'll technically be paying part of everyone's card surcharge.
I suspect that any attempts to discount for cash will be quashed, if it's not already buried in there.
Banks have always charged the vendor.
The no-surcharge rule in itself won't prevent discounts for cash:
From: https://www.rba.gov.au/payments-and-infrastructure/review-of-retail-payments-regulation/2026-03/conclusions-paper/faqs/#can-businesses-offer-discounts-on-other-payment-methods
Many stores agree. In the U.S., there's a debate about whether cities should require private businesses to accept cash, and the only reason why it's a debate is because some stores are going cashless already. It saves them the labor of counting cash and depositing it at a bank, and it reduces the risk of mistakes, lost/misplaced money, theft/robbery, etc.
The metadata of being able to associate a transaction with an individual is much more valuable.
A business dealing with Cash is a legal liability because a transaction cannot be associated with an individual, especially if it technology.
Burner phones aren’t a thing in Australia. A lot of car dealers refuse to take cash payments due to laundering; it is legally safer for them to illegally reject cash than for them to get embroiled in more serious illegal activity.
Counterfeiting is also a concern as technology enables higher quality fake currency.