Cashless society push continues..

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BANKWEST CLOSURES

Bankwest recently announced it will close more branches in Western Australia as it moves towards a “digital future”, citing staffing issues and a rapid decline of demand for cash services.

The changes come as Commonwealth Bank pursues a plan to reshape Bankwest into “almost solely” an online bank, highlighting the continued acceleration towards a cashless society.

The Australian bank, which serves more than 1.1 million customers across the country, said it would shut down more branches, including its branch in WA’s Maddington and Kununurra regions.

Bankwest General Manager for Personal Banking, Scott Spittles, said it would close its Maddington branch as ‘digital transactions surged’ and ‘demand for cash services declined’.

Last month, Bankwest also announced it would close its doors on its Armadale branch in Perth.

With its Armadale branch shuttered on January 18, Bankwest confirmed on Tuesday that its Mt Lawley, Wembley and Success branches will close in March.

The changes have been gradual over the last 12 months, including broker investments towards “Bankwest digital”, starting with closures in Baldivis on 9 November, South Perth on 16 November, and Osborne Park on 23 November, and the first closure of the Subiaco branch on 20 July.

In September, Commonwealth Bank Chief Executive and Managing Director, Matt Comyn, confirmed Bankwest would transition to a “predominantly” and likely “solely digital” customer service operating model in the coming years (more like the coming months).

The bank has also experienced significant problems during this time.

A rural Bankwest customer recently blasted the bank for refusing to allow a cash withdrawal, despite the fact he and his wife drove 130km to access their nearest branch.

Graeme Reid, a resident of Latham in WA’s mid-west, said the bank refused a simple $300 withdrawal despite the over 100km they had to travel to the Wheatbelt town of Dalwallinu and back.

A teller told him they were the third customer that day to make the request and she was unable to withdraw money, directing them to the post office.

Yet another story to add to the list of Australia descent to a digital currency dystopia.

How long will it be before the parent bank, Commonwealth, and others, adopt similar strategies.

The pot is certainly brewing and we are witnessing things begin to speed up further as we enter 2024.

THE CASHLESS CREEP

Bankwest is the latest to add their name to the NWO cashless agenda.

CommBank, who owns Bankwest, announced last year that cash would no longer be available over the counter at a number of locations, with ‘Specialist Centres’ to focus on “more complex banking needs”.

Macquarie Bank soon followed, stating that by November 2024, customers would be unable to write or deposit cheques (including bank cheques), deposit or withdraw cash over the counter branches, or make a super contribution or payment with a cheque. All part of a new ‘internal transition’.

Macquarie Bank joins cashless society push

It seems they are pushing ahead with forecasted timelines first released in 2021 (during lockdowns), that stated Australia will become “effectively cashless’ by this year.

Let’s not forget that lockdowns themselves helped push this agenda over the final hurdles with record online sales and a switch-of-shopping-culture to apps like Uber Eats and Menulog.

Bank branches themselves are becoming a thing of the past, disappearing at “alarming” rates, and in the future, each branch will only have one obscure branch 400km away you can visit if you want cash.

Australian bank branches are closing at an alarming pace

In December, 7-Eleven also confirmed it will start to ‘wind back’ the number of ATMs in their stores.

Cashless society: 7-Eleven stores to begin removing ATMs

Federal Treasurer Jim Chalmers also announced last June that cheques will be phased out nationwide by 2030, in a federal government ‘shake-up’ of Australia’s payments system.

Cheques to be phased out in Australia by 2030

But it is not only at the cashless point where they intent to stop with this vision.

The removal of cash is just a large piece in an even bigger puzzle that will slowly emerge soon to follow.

The ‘Big 4’ banks in Australia are already following in suit with the Reserve Bank’s push to soon introduce Central Bank Digital Currencies, with pilots currently being tested in the industry.

Reserve Bank launches centralised digital currency pilot program

Underpinning all of this will be digital identity checking services to keep your new virtual-only CBDC transactions ‘secure’, all for your ‘safety and security’, of course.

Australian banks ready to introduce digital identity checking service

With each day that passes, the worlds of science fiction become more real and encompassing.

The latest transformation in the usury system that began many generations ago.

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