In a major move to modernize its offerings, Australian bank Macquarie Bank will stop providing cash, cheque, and phone payment services from January 2024.
Instead, all transactions will be conducted digitally and only ATMs will accept cash from November 2024.
The first new chequebooks for cash management accounts will be introduced in January.
In March, the bank will stop providing its telephone banking service.
In May, the ability to deposit or withdraw cash at branches will also be eliminated.
Customers will no longer be able to order or deposit cheques for their existing accounts from May.
In a statement, the bank noted that customers can still use ATMs to withdraw cash without additional fees.
In November 2024, the ability to deposit or write checks, as well as make payments using cheques, will stop.
In November, the National Australia Bank will stop allowing its customers to deposit or withdraw cash at its branches.
The bank noted that it will no longer provide these services in 2024.
Instead, it will allow its customers to make payments using digital means.