Australians are warned to make bookings if they want to make cash withdrawals as banks go digital

Yorky said:
www.dailymail.co.uk

Australians warned to make bookings to make cash withdrawals

More Australian branches are forbidding cash withdrawals as the banking system moves into the digital age, with customers urged to call ahead to see if they can take their own cash out.
www.dailymail.co.uk www.dailymail.co.uk

That'll be Danny Captain Hooked!
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They'll make a ton of extra money on the ATM withdrawals. As if they don't make enough. The tax man will have a field day. They'll know every dollar you make, have, and withdraw. Soon every transaction you make will be there for the government man to see. No more cash soon, all plastic and electronic.

The future is uncertain, and the end is always near.
 
Too tell the truth. Banks in Australia have been cashless for quite a while, all they done is make it official.
I cannot say when the last bank robbery I ever heard of was. Maybe forty years ago.
 
Rice said:
Too tell the truth. Banks in Australia have been cashless for quite a while, all they done is make it official.
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I don't know how this will effect Danny. He uses cheques! I told him last week that I can transfer money in about 5 minutes from UK. Not the two months that it takes him.

Although I still have a cheque book (NatWest International), it must be 10 years since I wrote one and even longer since I received one.
 
Yorky said:
www.dailymail.co.uk

Australians warned to make bookings to make cash withdrawals

More Australian branches are forbidding cash withdrawals as the banking system moves into the digital age, with customers urged to call ahead to see if they can take their own cash out.
www.dailymail.co.uk www.dailymail.co.uk

That'll be Danny Captain Hooked!
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Just what on earth are you talking about??? Does he withdraw large amounts of cash in Australia? To take to Thailand? If so how often?
In what respect is he Captain Hooked???? You have me very puzzled.
 
Rice said:
Just what on earth are you talking about??? Does he withdraw large amounts of cash in Australia? To take to Thailand? If so how often?
In what respect is he Captain Hooked???? You have me very puzzled.
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As far as I am aware, he writes cheques from an Australian bank and deposits them in his Thai bank here. Then 2 months or so later the money appears in his Thai bank. I am only going by what I am told.
 
Yorky said:
As far as I am aware, he writes cheques from an Australian bank and deposits them in his Thai bank here. Then 2 months or so later the money appears in his Thai bank. I am only going by what I am told.
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So he does not deal in cash at all. I think you need to read the OP. This only concerns cash withdrawals at a bank in Australia. This has been problematic for quite a while.
Five years ago I rang up my bank and made an appointment to book an amount to withdrawer. I arrived to be told. I needed an appointment. When they checked, they found out ,yes I had booked a cash amount and did have an appointment. All they said was OH, Well you did that and you are still screwed. We can waive your ATM limit for the day and charge you $2.50 a withdrawal. I was not amused. Sadly I still bank with them. They are one of the best. The others are far worse.
 
Yorky said:
As far as I am aware, he writes cheques from an Australian bank and deposits them in his Thai bank here. Then 2 months or so later the money appears in his Thai bank. I am only going by what I am told.
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By the sound of it he avoids having to pay a 'wire transfer' fee to his bank in Oz...saving $50-$100 for the inconvenience in time.

His money..."a dollar saved is a dollar earned."
 
Coffee said:
By the sound of it he avoids having to pay a 'wire transfer' fee to his bank in Oz...saving $50-$100 for the inconvenience in time.

His money..."a dollar saved is a dollar earned."
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But how long will it be before cheques are obsolete? I actually thought they were already. And how much does it cost to process a cheque these days?
 
Yorky said:
But how long will it be before cheques are obsolete? I actually thought they were already. And how much does it cost to process a cheque these days?
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Surprisingly it costs nothing to process. Because the damned bank uses your money for a week until it clears which they actually do in minutes. Its all scanned. The actual filing of the paper item is done in months. But yes cheques will finnish oneday along with Telegram and Telex.
 
Rice said:
Surprisingly it costs nothing to process. Because the damned bank uses your money for a week until it clears which they actually do in minutes. Its all scanned. The actual filing of the paper item is done in months. But yes cheques will finnish oneday along with Telegram and Telex.
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Khun Rice, banking is clearly not your area of specialization. If you want educating on cheque processing costs, and the value of transient deposits, please PM me.. :blush:
 
CO-CO said:
Khun Rice, banking is clearly not your area of specialization. If you want educating on cheque processing costs, and the value of transient deposits, please PM me.. :blush:
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Things have changed a hell of a lot. A bank friend in Australia told me. How it was done these days. In days gone bye clearing houses were the thing. I was told cheques were converted to an electronic token and processed, But were still cleared finally the old way. Maybe I misunderstood. Your right not my area. But I have a good memory for what I am told. Mind you. Garbage in is always garbage out.
 
Rice said:
Things have changed a hell of a lot. A bank friend in Australia told me. How it was done these days. In days gone bye clearing houses were the thing. I was told cheques were converted to an electronic token and processed, But were still cleared finally the old way. Maybe I misunderstood. Your right not my area. But I have a good memory for what I am told. Mind you. Garbage in is always garbage out.
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It seems incredible thinking back to the days of the important job of cancelling cheques.

You might bank with HSBC and issue a cheque to the local DIY retailer who process your cheque through their accounts system and then physically pay that cheque into Barclays bank.

That cheque processed by the Barclays bank branch and sent to their clearing centre. Then it is sent to HSBC's clearing centre, then it is sent to your local branch for cancellation. Once there cheques are sorted in approx 10 alphabetical groupings ie A-C, D-F..

Staff would then have the task of physically cancelling their batch of cheques, and that was achieved by initialling through the signature on the cheque. Before that there were about a dozen things that you were supposed to check ....date, words and figures matching, signature etc, etc

Now you can just tap your card on the retailers machine.....job done.
 
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