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Submission - Acceptance of Cash Payments Review - Jean Sim - 10 July 2024

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It is very important we keep the ability to use cash. When you use cash the banks do not get a percentage of your money. If we have no cash the banks make money on every transaction and can then increase charges at will and no one will be able to stop them. If businesses pay their bills in cash too as they used to, the banks can't charge them for paying it into their account. This is how it used to work. The government should legislate to stop banks charging extra for cash deposits. We are an aging population and older people are not all comfortable using technology

Jean Sim