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Is cash dead in Australia? (nord.pub)
submitted 1 week ago by to c/australia@aussie.zone
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I mean, since the last time I've visited: it seems like no one ever carries it. I prefer it because CC charge additional fees (which end up making the item cost more) I have a small rant about that: STOP RIPPING OFF PEOPLE WITH THOSE SURCHARGES?! (It should be 0 rather than 1%) as it may seem trivial, they add up overtime. Are stores allowed to refuse cash payments outright despite them being legal tender?

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[–] 1 point 1 week ago (2 children)

I suspect that any attempts to discount for cash will be quashed, if it’s not already buried in there.

The no-surcharge rule in itself won't prevent discounts for cash:

Can businesses offer discounts on other payment methods?

Yes. Businesses can continue to offer discounts for particular payment methods. Businesses should consult their payment service provider and the ACCC guidance on appropriate pricing displays.

Removing the RBA’s prohibition on ‘no-surcharge’ rules is not intended to prevent discounts being offered to consumers for using certain payment methods.

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

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  • [–] 1 point 1 week ago

    Okay, though if this created a resurgence in the cash economy, I think the government would amend the legislation. A lot of companies might not want to deal with the cost/ risk of handling more cash.

    Mostly I expect that the highest card surcharge will become the new price and if there is a cash price, it will just be the current price at best. It really looks like it will just mean higher prices for all consumers and less versatility - the biggest rent payment platform owned by Macquarie bank has already stated they just won't accept cards any more.

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