It is reported that around 6000 ATM machines have been removed in a period of 5 years due to Australia’s transformation to a digital society.
In the last financial year alone, around 200 bank branches have been removed from all states and it is reported that the aim is to encourage people for digital transactions.
Canstar has carried out a study in this regard and its director Sally Tindall said this was not a win.
It is also stated that Australians who transact money will have to travel many kilometers to find an ATM machine due to the closure of ATM machines in shopping malls or bank branches.
Canstar analysis has found that some Australians rely solely on cash for their payments.
Also, the latest figures from the Reserve Bank show that Australians have withdrawn $107 billion from ATMs in the last 12 months alone.