This week, Australia’s biggest bank, Westpac, will stop allowing customers to withdraw cash using their card without a physical bank card. This has caused a backlash from consumers.
Effective from 8 pm on Friday, the company and its subsidiaries, including BankSA, St. George Bank, and Melbourne Bank, will no longer offer cardless withdrawals.
According to a spokesperson for Westpac, the number of customers using the cardless cash withdrawal feature has decreased.
The company attributed the decline in customer usage to the shift toward digital payments.
In the past year, the number of transactions involving mobile wallets has increased by 21 percent.
The spokesperson for the company noted that the number of cardless cash withdrawals has decreased.
However, it noted that customers can still access the company’s network of over 7,000 ATMs and over 500 branches.
They also stated that those who want to conduct cash transactions can do so through Australia Post’s Bank@Post outlets.
Despite the change, the company noted that it will still provide customers with cardless cash deposits. Many of them said they no longer carry a physical card with them.
They noted that cardless cash is their only option when they need to make a quick cash withdrawal.
One of the customers said that the change seems like a backward step. They also questioned the need for a physical card when they haven’t had one for a long time. Another person noted that it was very sudden and unexpected.
Some customers even said they would switch banks due to the change. One of them noted that they have been keeping an account at St. George Bank because of the cardless cash withdrawal option.
Another said it was time to close the account. Commonwealth Bank, on the other hand, provides its customers with cardless ATM withdrawals through its app. Customers can withdraw up to $500 a day.