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Men's Weekly

Cash could be almost gone in Australia in a decade – but like cheques, who'll miss it?

  • Written by Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University
Cash could be almost gone in Australia in a decade – but like cheques, who'll miss it?Shutterstock

Late last year, the Reserve Bank gave 1,000 Australians diaries and asked them to record every payment they made over the course of a week. Of the 13,000 payments, only 17 were with cheques.

It’s been an astounding collapse. Back in 1980 at the start of the credit card era, 85% of non-cash payments were made with cheques. Today...

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