I wasn't sure where to post this so please move if this is the wrong Forum.
I wanted to know if Australian Banks have a legal requirement to provide access to physical legal currency?
This comes about because one of the banks I use for personal and business has basically refused to stock and provide change (mainly small amounts of coin) from 1 of their branches located near our business. Another Bank that we also use for business hasn't refused but makes it so painful and time consuming to get change that I consider it constructive refusal of service.
As a consumer and business we don't have the ability to obtain phyiscal money from the Reserve Bank of Australia. Our only option to get money is from a bank. I would think that it should be a legal requirement for banks to act as the conduit between end users and the Reserve Bank and therefor provide unfettered access to the legal currency of Australia.
This is not meant to be a discussion on the pros/cons/inevitablity of a cashless society.
Thanks for any input and advice.
I wanted to know if Australian Banks have a legal requirement to provide access to physical legal currency?
This comes about because one of the banks I use for personal and business has basically refused to stock and provide change (mainly small amounts of coin) from 1 of their branches located near our business. Another Bank that we also use for business hasn't refused but makes it so painful and time consuming to get change that I consider it constructive refusal of service.
As a consumer and business we don't have the ability to obtain phyiscal money from the Reserve Bank of Australia. Our only option to get money is from a bank. I would think that it should be a legal requirement for banks to act as the conduit between end users and the Reserve Bank and therefor provide unfettered access to the legal currency of Australia.
This is not meant to be a discussion on the pros/cons/inevitablity of a cashless society.
Thanks for any input and advice.