Following the Optus outage this week, the Senate has launched an Inquiry into the issue and impact. One element to the fore was the lack of access to cash thanks to recent bank branch and ATM closures and some businesses choosing to go digital only. Useless when the network or power goes out.
So we need to make sure the Government hears from us about the essential utility of cash, and that they need to legislate to protect access and acceptance of it.
So make a submission to the current inquiry, deadline for which is 17th November.
Use your voice to make sure our elected officials get the message. Access to cash is a requirement, and it needs to be protected – as a safeguard to democracy!
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Optus’ network failures have again highlighted the risks to the community when technology breaks. There were structural reasons why the failures happened, but the fallout was significant.
This brings the need to ensure access to cash is enshrined in law in Australia into sharp contrast again. This has already happened in a number of other countries.
The Change.org petition https://www.change.org/p/an-australian-cash-and-banking-guarantee has more than 130,000 signatures, and I encourage my followers to sign up.
We cannot be held hostage to a digital future which is intrinsically unreliable.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
Cash Remains King In An Outage (So Let’s Protect It!)
Optus’ network failures have again highlighted the risks to the community when technology breaks. There were structural reasons why the failures happened, but the fallout was significant.
This brings the need to ensure access to cash is enshrined in law in Australia into sharp contrast again. This has already happened in a number of other countries.
The Change.org petition https://www.change.org/p/an-australian-cash-and-banking-guarantee has more than 130,000 signatures, and I encourage my followers to sign up.
We cannot be held hostage to a digital future which is intrinsically unreliable.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
An important debrief on the past weeks Senate Inquiry into Regional Branch closures, use of cash and other banking issues, with Robbie Barwick from the Australian Citizens Party.
An important debrief on the past weeks Senate Inquiry into Regional Branch closures, use of cash and other banking issues, with Robbie Barwick from the Australian Citizens Party.
Robbie Barwick from the Citizens Party and I discuss the latest moves in the battle to retain cash in society ahead of the next Senate hearings which are scheduled for next week. The battle is reaching a head, and there is everything to play for, not least as Adrian Orr put it recently, its a question of social cohesion!
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
Who’s Really Driving The Abolition Of Cash? With Robbie Barwick
Robbie Barwick from the Citizens Party and I discuss the latest moves in the battle to retain cash in society ahead of the next Senate hearings which are scheduled for next week. The battle is reaching a head, and there is everything to play for, not least as Adrian Orr put it recently, its a question of social cohesion!
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
The UK banking sector is being warned it faces penalties if it does not secure free access to cash for the UK population, including businesses, following waves of branch closures over more than a decade.
The Financial Conduct Authority (FCA) and Treasury confirmed the guidelines the industry was expected to follow. The legal framework showed that no person or business should be further than three miles away from facilities to withdraw or deposit cash including a cash machine.
Meantime in Australia, the Regional hearings on Branch closures continues to highlight the high-handed approach taken by the banks. We clearly need a similar bill in Australia to that now in operation in the UK.
Access to cash is a human right and needs to be preserved, and if banks are not willing to provide appropriate banking services, a National Bank in needed to provide services, especially in in regional areas!
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Access to cash is an essential requirement for businesses and households, and this aspect of the current Senate review into Regional Branch Closures is a critical issue.
This same issue is playing out in the UK, and today we look at a recent report which highlights some essential issues. This needs to be incorporated into the Senate’s current thinking.
Access to cash is an essential requirement for businesses and households, and this aspect of the current Senate review into Regional Branch Closures is a critical issue.
This same issue is playing out in the UK, and today we look at a recent report which highlights some essential issues. This needs to be incorporated into the Senate’s current thinking.
