[FoxtrotGolfXray 5.0]

Originally Posted by b0son

3 branches nationwide... so effectively, no, they dont have branches.

Well, yes, it is a small number. And perhaps the headline is a bit misleading (wow, there's a shock, eh? )

But if you read through the article a bit further, the impacts are a bit larger than just cash at the branches:

Macquarie Bank has announced it will phase cash out across their branches in 2024, and by November of the same year, the bank won’t accept cash anywhere.

“Between January 2024 and November 2024, we’ll be phasing out our cash and cheque services across all Macquarie banking and wealth management products, including pension and super accounts,” the bank said in a statement to clients.

As well as scrapping over-the-counter cash transactions, Macquarie will also stop accepting payments via telephone banking from May next year.

The move means customers wishing to withdraw or deposit cash will only be able to do so via an ATM.

The bit that is a bit confusing for me, from the above, is that one statement says they won't be accepting cash anywhere, but then mentions that customers will be able to deposit cash at atms? That appears contradictory to me.