MacBank to Terminate Telephone Banking, Cash Deposits and Cheques in 2024

mzqa395 on 07/09/2023 - 21:07
Last edited 07/09/2023 - 22:05 by 1 other user

https://www.bankingday.com/macquarie-to-terminate-telephone-…

The war on cash and cheques at Australian banks is about to intensify with two of the country’s leading deposit takers – Macquarie and CBA - flagging new measures to manoeuvre customers away from analogue methods of banking.

Macquarie Bank this week began notifying holders of its transaction accounts that it will cease accepting cheques and cash deposits next year as part of a strategic transition to becoming a pure digital banking platform.

MOD: rest of the article removed. Since the link has been provided, please do not quote the entire article.

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payless69 on 07/09/2023 - 21:20

Consolidation is in full swing!
Mebank is restructuring, closing dormant accounts.
NAB admits its Citi mistake, possibly shutting it down.
European banks are also consolidating, many refusing to deal with cash. Either use the ATM or get lost!
more to come!
digitalaxon on 07/09/2023 - 21:37

+4

This is how it starts: slowly get rid of cash, then implement a social credit system. If you express disagreement with the government and post something that goes against the official narrative, you may be prevented from buying a train ticket or purchasing milk for example.

Same if your bank is down for whatever reason - you won't get very far.

Least with cash you don't need an internet connection, nor electricity and the government can't track you… People have given up their freedoms for convenience.
- Pcosmic on 07/09/2023 - 23:53
  
  -2
  
  Less power for right wingers?
  - EightImmortals on 08/09/2023 - 06:22
    
    If you are still in the left/right paradigm then you are the right audience.
    
    Here's the latest from NAB: https://www.nab.com.au/content/dam/nabrwd/documents/guides/b…
    
    "NAB will investigate instances where it identifies or is made aware that an account
    or an electronic banking service is being used in a financially abusive manner,
    including:
    • coercive or controlling behaviour to limit a person's access to or use of funds;
    • making profane, derogatory, discriminatory or harassing comments to any person;
    • making or promoting threatening or abusive language to any person;
    • making or threatening physical or psychological harm to any person.
    We may reasonably exercise one or more of our rights in these terms and conditions
    to suspend, cancel or deny an account holder's access or use of the account, card or
    an electronic banking service if we reasonably consider it appropriate to protect a
    customer or another person from financial abuse. "
    
    None of those actions have ANYTHING to do with banking services and all of them are worded pretty vaguely. The other guy was right, social credit and CBDC's are the order of the day. Or to put it another way "No man may buy or sell unless he has the mark….."
    
    Also plenty of global pushback on the CBDC's that the media aint telling about, Corbett did a good article on it the other week.
    
    https://corbettreport.substack.com/p/the-global-uprising-aga…
    - iCandy on 08/09/2023 - 07:40
      
      Yep. They’re slowly taking away your rights. Like boiling a frog. They don’t ban anything outright, just make it more and more difficult for you until you give up. Like not upgrading major roads in a timely fashion, charging you to park on the roads or in car parks, not building enough car spaces in apartment buildings, all slowly making you give up your car. If you think it’s bad now, just wait, BTW I think it’s CBA that has the exact same new terms as NAB. Although I expect all of them to implement the new terms asap.
      - EightImmortals on 08/09/2023 - 08:07
        
        @iCandy: And all powered by our limitless obedience. On a a positive note a few retailers have mentioned to me that more people using cash lately. I'll pull out a couple of hundred each week at the supermarket for my local spending.
        
        iCandy on 08/09/2023 - 08:13
        
        @EightImmortals: We proved how quickly we will roll over with the vax. They now know if they terrify the public with something we will give up our rights and turn on others who are strong enough not to. Like climate alarmism. Plenty of experts out there saying it’s rubbish but media won’t allow or will hide their sites and presentations. They’re doing the same thing with the voice. The Yes politicians are calling No advocates racist, scared of change. Never be shamed into a vote. It gives them all of the power.
        
        EightImmortals on 08/09/2023 - 08:47
        
        @iCandy: Conversely they have started to wake up a lot of people in the process so maybe some of them wont fall for the fear game again. And don't get me started on the voice. I read the full agenda yesterday and it's pretty scary. The Voice is simply step 5 of a 6 step program.
        
        https://www.niaa.gov.au/sites/default/files/foi-log/foi-2223…
        
        The juicy bits are towards the end but here are two highlights.
        
        "19. The Bill establishing the Makarrata Commission should confer all necessary powers
        and functions to facilitate the settlement of a National Makarrata Framework
        Agreement between Australian Governments and First Peoples, as well as subsequent
        First People Agreements at the local level (named in the relevant ancestral language of
        the First Nation, representing for example the Meriam, Yorta Yorta, Anangu, Wiradjuri
        and the many First Nations of Australia). The role of the National Native Title Tribunal
        should be subsumed by the Makarrata Commission, which should have as one of its
        functions the role of a Truth and Reconciliation Commission to enable all Australians
        to face the truth of the past and to embrace a common hope for the future.
        
        The consultation and negotiation leading up to the settlement of the National Makarrata
        Framework Agreement should take place between the Voice and the governments of
        all relevant jurisdictions in a process supervised by the Makarrata Commission.
        
        The Makarrata outcome should be legislated by the parliaments of all relevant
        jurisdictions. "
        
        If that isn't a government takeover I don't know what is.
        
        iCandy on 08/09/2023 - 08:53
        
        +1
        
        @EightImmortals: I think it’s important to note that the Australian govt has already paid out financial settlements to Aboriginal groups. I, myself, participated in the meetings and reimbursements handed out to one group who had received $20 million. That’s just one mob and this was 15 years ago.
        
        iCandy on 08/09/2023 - 08:15
        
        @EightImmortals: Actually, every time I shop now I take out cash as well.
    - djsweet on 08/09/2023 - 08:13
      
      +1
      
      making profane, derogatory, discriminatory or harassing comments to any person
      
      judging from the comments here, NAB could restrict most ozbargainers from accessing their own money based on those terms.
      - EightImmortals on 08/09/2023 - 08:43
        
        +1
        
        @djsweet: Yes the terms were way to ambiguous and we only have to look at what they recently did to Nigel Farage to see what's really going here. Nothing to do with banking.
shaybisc on 08/09/2023 - 08:26

Some paid me by cheque a few weeks ago. What a pain. I had to go to a post office to deposit it - no bank branch of course - and it took 9 days to clear.
- iCandy on 08/09/2023 - 08:56
  
  +1
  
  Yep. They’re making it more and more difficult for you to be paid by cheque. In this day and age, no way should a cheque take 9 days to clear.

MacBank to Terminate Telephone Banking, Cash Deposits and Cheques in 2024

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