Debt Management

Australia is a Cash Based Society

The Reserve Bank of Australia has conducted a recent study that indicates that Australia is still a cash based society. However it is not to be overlooked that the use of credit cards continues to rise.

The RBA study of consumer payment behaviour found that cash accounts for 70% of all transactions. EFTPOS, MasterCard, and Visa Debit Card payments make up 15% of all transactions followed by MasterCard and Visa Credit Card transactions at 9%. Only holding 1% of total transactions is American Express and Diners Club cards.


ATM Fees in Pubs and Clubs

Customers are being warned of a new system of ATM’s that are being dispersed throughout New South Wales. The ATM’s, promoted by a company called iCash are called Cashpod’s and are going to be placed in pubs and clubs and other free standing operations throughout NSW over the coming weeks.